What Accurate Property/Area Details do Agents have Access to?

Question

I heard of the MLS showing accurate Comparable House Sales and therefore ARV but what else does it show with 100% or Close Accuracy and is there anything beyond the MLS they have access to?

Christopher Phillips · Answer

@Jermaine White

Pretty much what you already have access to on most websites.

The MLS will sometimes have better search functions, but that depends on which MLS you are using. Some consumer sites have better search functions and are certainly improving their services on a regular bases.

It all depends on what you are looking for. As an example, in my MLS there is a checkbox for shortsales. So, I can search specifically for shortsales or eliminate them from my search. Not all consumer sites have that ability. Many have it for foreclosures, but not for shortsales.

In general, the listing information in the MLS is a little more detailed than the consumer search sites like Realtor.com or Zillow. This is due to sites limiting the display of the listing data. However, the information may or may not be important.

Everything else is just publicly available data anyone has access to.

Comparables are just recently sold homes (similar in size, style, age, etc., sold within the past 3-6 months). You can get that information from any website that accesses the public records like Zillow or Realtor.com (ignoring non-disclosure states).

Agents have to search for homes and decide which ones are comparable. There are some paid subscriptions that try to automate some of the process, but they all tend to have their limitations.

Lynn McGeein · Answer

In our area, we have access to the MLS and Realist Tax Records, with both providing very good search tools so we can target more specifics than the average person looking on Zillow or at their city records assessment site, although some city websites are actually a very good tool.   They are continually providing updates to make searches easier and more specific, so it just depends on what your MLS offers and how competent your agent is in using the tools they have available to them.