Texas has a long history and an attachment to a law that prohibits deeds, etc., from revealing the price a buyer paid for a real estate acquisition.
Our deeds read, "For $10.00 and other consideration...." The actual price isn't noted.
Professional licensed agents, appraisers, etc., are allowed to share that information with one another, but not with the public.
The tax appraisers are strictly prohibited from requiring access to documents that accurately show the price and conditions of a sale.
So it's somewhat odd that Zillow, Redfin and others claim to be able to provide an accurate opinion of the value of any Texas home.
So if you're thinking about selling your home, they insinuate that they can instantly provide that value without seeing your home or having any documented comparables.
And without being licensed in Texas. And without consulting a licensed real estate professional.
It's interesting to me that apparently this practice has not been seriously challenged by the state real estate commission, the Association of Realtors, or the man on the street who believed one of those value assessments, and who later learned that it was seriously incorrect, and probably caused him to lose money.
Those who collect licensing fees, board membership fees, lobbyist fees, etc., don't seem to be concerned about how our professional service is being watered down by outsiders.
BILL CHERRY, REALTOR
Since 1966
Dallas
214 503-8563
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