Mls 2 months behind? - Is this true?

[agkatz]

I've heard that the MLS in Austin is 2 months behind, regarding info. on properties that have sold.  

Is this true?

[StacyKellams]

agkatz,

Where did you here that MLS is two months behind?

I've never heard that before so I don't know.

[Admin]

Adam,
Please explain what you mean here.  I don't understand the question.  Thanks.

[agkatz]

Temper what I'm saying with the fact that I've only ever looked at print out sheets from the MLS, and haven't had the benefit of poking around in the computer system, itself.

However, if I understand correctly, you can pull up comps of properties that have sold in the past, to find out the selling price, right?  

According to the Realtor next door, those numbers are more than 2 months behind in being updated into the system.  

- A.

[Admin]

The agent's comment is completely wrong.  I've looked at enough comp sheets to know they certainly don't lag by 60 days.  Perhaps that agent is slow to update his listing information, but some of the comps I've seen include the pending date within the last few days.

Even if he meant actual listings being shown as "sold", the listings are updated daily.  There must be some miscommunication here...

[Dretke]

How do you get a copy of the MLS if you're not a licensed agent or broker.  I have a friend who is an agent and I asked him for it and the look I got was like I committed a major NO NO!

[Admin]

Dee Dee,
There's not an easy way to get access without being licensed.  Other states have associate members who are able to get MLS, but phone calls to TREC indicated that wasn't possible here.

Here's some ideas:

1. Make nice with an agent and make sure they get paid on some deals for their efforts in helping you.  Then see if you can move the relationship forward where you can get access under their supervision.  The issue here is getting coordinated times as most residential agents use MLS quite a bit.  The same holds true for appraisers who generally have licensed agents in the office for MLS access.

2. Get licensed yourself or have a family member do so.

3. See if you can befriend a licensed agent who focuses exclusively on commercial deals.  Most commercial transactions seem to happen through the referral network and not through MLS.   Although the agent still has to pay all the required dues to be a member of the local board, etc., they rarely use MLS.  Perhaps you can work something out with them in exchange for supervised access.

I do agree that it's difficult to feel comfortable without MLS unless you seriously focus on just one or two areas.  You can learn your farm areas well enough to know values better than someone running comps through MLS.

Also, I would recommend asking the agent to actually send you copies of the comps and listings.  It's been my experience that many agents have a different idea of what a "comp" is compared to my own view.

Hope that helps.

[krandle]

agkatz,

It is my understanding that the company Actris which runs/monitors MLS in the Austin area, will fine agents for not updating their listings.  I believe the agents have 24 hours to put in information such as contract pending or sold.