Publication Date:
Fri, 2011-10-14 16:08
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10. Put your houses on the MLS
In many markets, sales of new homes aren’t listed on the Realtors’ Multiple Listing Service. That’s unfortunate because the MLS is a prime resource for appraisers looking for comps. “The more data the appraiser has, the better,” Gardiner says. “I think putting the listings on the MLS is a great help.”
Just make sure the information you input is accurate. “Typically, the builder-entered MLS data is some of the least reliable data from what I’ve observed,” Gardiner says. “It’s entered by a sales agent who doesn’t work much with MLS. A lot of times the sales price isn’t right. They put in the base price instead of the sale price with upgrades. It’s very common. Just make sure there’s some quality control.”
If that’s not an option in your market, create a fact sheet on each of your houses with information that corresponds with the information typically included in an MLS listing. Put it in a book or on a flash drive and make it available to appraisers.
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