Wrong MLS Data

In search of Investment properties in Kenner or Condos in Metairie LA verify all information. In order to make the right investment property decision work with an investment property Realtor.

Ok, I believe we all have these types of stories. It could be an honest mistake that anyone could do. My position on this matter is this. If you enter data into the MLS and let's say it benefits the seller don't be offended when the offer comes in base on the facts.

Recently, I was showing one of my investors a property listed in Kenner La by another broker. Based on the information on the MLS, it appears to be priced correctly and showed promise as far purchasing multifamily property in Kenner. After inspecting the investment property we noticed that what was advertised as a three bedroom and two and half baths truly were only two bedrooms and one and half baths. To add to the misrepresentation the rent were lower than stated.

The Seller's agent did come out and meet with us during this viewing. I pulled out a copy of the MLS data sheet. She could not explain why any of the information was not correct. Here is a short list of inaccuracies:

•1.       Rents

•2.       Square footage

•3.       Bedrooms

•4.       Baths

•5.       Vacancy Rate

My buyer did submit a purchase agreement base on comps in the area for two bedrooms etc... The seller's agent became unglued. What kind of offer is this ~ not even close. Basically what was told to me.  My thought is the Realtor took a listing and did not inspection or measure (because the square footage was inaccuraute as well) the property.

Now when she presented the offer she should have explained the reasoning behind the offer. My guess is she did not and this seller will end up sitting on a property that they want to sell.

MLS data should always be reviewed. It will give you a reason to call the seller and showing that you're putting some effort in trying to market and sell their property.