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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (77978)	5/22/2007 10:14:29 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Looks to me that all you and Liz are talking about is another version of Realtor.com. That website already exists. A modern MLS system is basically an agent-to-agent communications system with features that go far beyond anything that could possibly be well-managed nationally about local real estate markets. It also requires special software and training, or the user can't use it. Who wants to buy the software, learn to use it---to buy or sell one house? It comes equipped with servers that store billions of bits of data about properties, has cross-search and report-generating capabilities, ties property addresses to the local tax records and automatically extracts key info from the tax records and enters it into a listing when the agent first enters the address, almost immediately reports when a home has received an accepted contract or has settled, and keeps certain personal and sensitive data out of the public eye, where it belongs. Agents generally do, however, provide all the data to clients and customers by printing out the full listings for them--but you sure don't want it all on the internet, such as instructions for showing (beware of teenager who might be asleep upstairs, do not show between the hours of X and Y, call seller's cellphone at 555-0555 before showing, ferocious watchdog safely locked in garage so no threat to visitors or burglars, call lister for security system code, etc. etc.) It's also up to agents and ultimately their brokers and local Realtor Assn. to comply with and enforce MLS rules that keep the data accurate, or risk fines (which I understand are now up to $1,000 in our area if any agent tries to misrepresent days on market for a property, for example). Who could possibly be the sheriff for all this stuff in a national database? Why should local market data be available nationally, anyway, as in "who would read it?" And most of all, who's going to make sure that not just all the available houses are in the system, but all the comparable sales data is complete and up-to-date?