FMLS is making more changes and I think they're good. In metro Atlanta, GA we have 2 Multiple Listing Services, GA MLS and FMLS which stands for First Multiple Listing Service. I am a member of both because it gives my sellers the most exposure and it gives my buyers access to the most home choices.
The changes are as follows and they are scheduled to take place on January 14th, 2010 based on member feedback. It is the hope of FMLS that these enhancements will aid in more quickly matching buyers with sellers. New fields, field changes, enhanced features, and additional pick list selections are among the updates coming.
The most notable changes are:
- The addition of Square Footage and Square Footage Source for Residential Detached properties. This means that single family homes will now be able to list square footage. If you list square footage, you must list the source where it came from. Buyers should not solely rely on what is listed. We all know that information is deemed to be correct but may not always be. By the way, the square footage rule for condos and townhomes was added last year. If you're listing a condo, please include the square footage there too. I still see lots of listings that don't add the square footage for condos when that information is so easy to obtain.
- Increase in photos allowed per listing to 20 (formerly 16) Buyers want to see photos. If there is a listing without photos, I think the listing agent is either lazy or the house is just so horrible they are afraid to show people what it looks like. If you're an agent wanting to get a house sold, do the maximum number of photos and make sure they are clear enough, please.
- Sold Listings to be stored for 5 years (formerly 3 years) This is huge, especially in neighborhoods that don't have high turnover. Remember that the sold homes from 5 years ago cannot be used as comparables on a current appraisal, but it's just good information to know.
- Sold Listings to include a new field "Lender Mediated- Y/N" This means that if a home was sold as a short sale, there's a space now to identify it as such, once again giving more accurate information for comparables in a neighborhood.
- Enhancements to the Shadow Listing Program (formerly Ghost Listing). This Ghost or Shadow listing is one I think just confuses people. I recently saw the same home listed twice, with different areas and county listed because it was near the edge of Dekalb County near Fulton County. My opinion is that if all agents just put accurate information in to begin with we wouldn't need this feature. I have been seeing a lot of listings lately that are labeled as the wrong area. When this happens, if a savvy agent is searching by area and a listing is submitted incorrectly, it just won't show up in the search. This hurts both buyers and sellers. I can't change the world though... :)
I hope this information was helpful. If you are thinking of of buying or selling real estate in or around Decatur, GA contact Realtor Jen Bowman, Broker Associate & e-PRO with Success Realty at 404-456-5024. We are also looking for quality real estate agents to join our team.
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