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The MLS May Need More Categories

Almost Excellent House While showing properties this weekend it hit me. The reason so many properties seem to be improperly identified is there are not enough categories in the MLS system.

For example let's look at the condition of homes. We definitely need some more categories here.

Instead of just excellent, we need a few levels of "Excellent"

Really Excellent - Move in condition, with upgrades and a great yard.
Nearly Excellent - Recently painted the bedroom
Almost Nearly Excellent - Paint and carpet less than 10 years old
Used to be Excellent - You should have seen it 10 years ago.

Above Average Condition

Really Above Average - Ready to Move in, but could use updating
Nearly Above Average - Badly needs paint and carpet
Almost Nearly Above Average - The roof is not leaking. The blue tarp was recently replaced.
Used to Be Above Average - The termites holding hands are keeping it standing.

This post may be a little tongue in cheek. But seriously, agents who list a home as Excellent Condition when it needs about $50,000 worth of repairs, is wasting a lot people's time. It also hurts their credibility and loses the public's trust of our industry.

Another related post: Your Reputation May be Your Best Source of Business

Posted by Randy L. Prothero - Hawaii REALTOR® on 06/17/2008 04:53 PM

Comments (22)

mls, real estate ethics, real estate listings, real estate agents

Originally posted at: Hawaii Randy's Real Estate Opinions: The MLS May Need More Categories

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22 Comments on The MLS May Need More Categories

JUN

2008

You missed the crappy little row house category and the falling down to the ground category. Just kidding!! I love both of those categories, they have stood me well.

June - That would fall under Almost Nearly Above Average. LOL

Randy I can see it now, grading like in coins ......... LOL

That could be the start of a whole new industry .......... Professional House Graders ............ LOL

George - I almost think we need that, when you look at what some agents put down on the listing.

Randy,

Thanks for the laugh, although it is deeply rooted in reality.

We have a range from "dump" and "not disgusting" to "shows well" and "renovated". But it's usually what's in the comment section that creates the magic, or lack thereof.

Randy, I was almost with you until I started to read further. The blog took a turn from "you have a point" to feeling like I wanted to make up some words and definitions too.

JUN

2008

We don't have that feature in our MLS and I have to say I'm kind of glad. Everything would be in "Excellent" condition... Oui! What a pain that would be.

We do not have a "condition" catagory in our MLS. I am not sure if it is valuable as people may feel mislead....

Do you find it of value?

Love your sense of humor, Randy, but so much truth to what you say. What aome agents will say for the sake of marketing. Saw an REO the other day which was marketed at "immaculate home...". Granted, having seen lots of these I was suspicious, but the reality was as far from being immaculate as one could be. Downright lie. When I talked to the agent I gave her my thoughts, politely. It was outright misrepresentation. And my buyer was kinda peeved since she wanted to see the home based on the write-up.

Jeff

Randy - we need more categories for waterview, too: Is it from inside the house/condo? Is it from the balcony? Is it only from the roof? Is it only when the leaves are off the trees (difficult in this part of Florida)? Do you have to lean out the window precariously to get a glimpse? Or is the view from one end of ther yard? Or from the park down the street?

Mike J. - Unfortunately it is based on truth.

Patricia - When they put an incorrect condition, it becomes even more annoying when they do not give pictures or a description.

Latonia - If some of the agents can make up definitions, I thought I could make up the titles.

Good post Randy. I am always mystified by over promise and under deliver listing remarks. If you build up your listing as the greatest thing since sliced bread, you are setting up the buyer for a whole lot of dissapointment if it does not live up to its accolades. It reminds me of that scene from American Beauty where Annette Benning described the pool as an inviting tropical lagoon and she was instantly met with a barrage of complaints from underwhelmed buyers.

Jesse - So they don't give you a condition. I thought that was common on most or all MLS systems.

Charles - I do find it helpful among the professional agent's listings.

Jeff - I had a celebrity from California here to see property with me earlier this year. One property was advertised with ocean view. The agent met us there and was quite surprised that my clients were upset when we found no ocean view. She said we wasted her time having her show it if we weren't interested. That fact she lied, in her mind was not a problem.

Sharon - The ones that kill me are the listings with a picture of the beach. (two miles away)

Pete - Good point, no one will buy a property they are disappointed with.

Hi Randy, The guys on the MLS committee need these kind of recommendations. Jerry

JUN

2008

Randy,
It should be a nice feature, here in our mls, always we miss some great features, and they charge us per minute ouch !!!!!! I do not know in your state, but many mls they do not do it.
btw, nice to see you again and I am back.
Ray Saenz

Jerry - I am not sure they would appreciate it. They could post an updated set of standards for what is excellent.

Ray - Your MLS charges by the minute? With what we pay in annual dues they would have some upset agents if they did that here.

No, there's no category for condition. We use Paragon (which I'm not crazy about) and it's just the basic stats plus two fields for agent fed remarks.

How often are the categories on the money in your area?

JUN

2008

Jesse - Most are pretty good, but every now and then I get a run of 4 or 5 in a row that really makes the industry look bad to clients.

JUN

2008

Interesting... I've never seen that feature here, in Anchorage or in NC (that I remember anyway). Seems like you guys have it down pretty well though if you don't run into that many that are true exaggerations.

Jesse - The best systems are only as good as the weakest participants.

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