Monday, January 10, 2011

MLS information you may not have known about

I wanted to post some information I recently found out about regarding MLS. After doing some searches for my clients, I came across a listing that stated the home did not come with certain appliances as well as having a $0 pet deposit. Unkowingly, my client had called the listing agent for this rental property and was told the home DID have these appliances as well as a $200 pet deposit. Further investigation into why this listing agent did not fill out the MLS form correctly lead to the answer of "MLS is advertising only and not a contract in any way".

I find it sad that we REALTORS have to pay so much money for these services when in fact there seems to be zero policing of the listings as far as truthfullness goes. It seems clear to me now that many agents are putting false information into thier MLS listings so that your searchs pull their listing up and then you later find out the depostits and/or price is incorrect, but there is nothing you can do about it since it's considered "advertising".

I hope change is in the near future for MLS and that some sort of fine or penatly will be standard for agents/brokers who continually put false information into MLS.