Thoughts on MLS Data from Our Appraiser Subscribers

 

As a Listing Agent, maybe you've never thought about your role in the "real estate data chain". During Realcomp's Appraiser Focus Group session, here are some thoughts our Appraiser volunteers expressed:

  • Real estate agents play a huge role in data accuracy. The "data chain" begins with the listing agent.
  • The data provided by agents is a key component to the appraisal process and that process running efficiently.
  • Agents verifying the accuracy of the data they submit to the MLS benefits many parties to the real estate transaction, including: the listing agent, the seller, the buyer, the buyer's agent, and the appraiser.
  • Accurate and complete data being provided to the MLS ensures appraisers have what they need. When the MLS data matches the data in public records, fewer phone calls and interruptions to the Listing Agent are necessary.
  • Appraisers benefit from the accuracy and completeness of the MLS data that agents provide -- agents benefit from timely and efficient appraisals being performed. The relationship between these two parties is truly symbiotic.
 Last Modified: Monday, November 17, 2014

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