Spring is finally here and we are seeing signs of the real estate business picking up! We do not know what effect the expiration of the tax credit will have, but we are hopeful that sales and sale prices will continue to rise as we saw in the first quarter of 2010.

Recently, we have received quite a few complaints regarding inaccurate or incomplete data on MLS listings. Specifically in the number of bedrooms, room measurements, year built and square footage. These fields are all required when submitting a listing to Realcomp.

There are two (2) obvious reasons why all the data should be included on listings. First, it will help to market and sell the property. When working with buyers with specific requirements, you need to know that the listing information in the MLS is complete and accurate so that searches in Realcomp Online^® will return all properties that match the requested criteria. Secondly and just as important is the use of the MLS data in appraisals, CMA’s and other valuation procedures used to properly price listings.

In some cases, we receive reports that the data is incomplete. Other reports show that the room dimensions or square footage, for example, were not measured and the submitted information is simply there to meet the requirement of having data in those fields. Both of these scenarios are unacceptable and compromise the integrity of the database.

We are asking you to provide us with complete and accurate information for all fields of data. We will begin looking at additional ways of monitoring the data as it comes in at the request of so many of you that are concerned about this important issue. If you have suggestions that could help, please let me know! You can reach me by email or by phone at 248-699-9120. Your input is critical.

In the next few months, I will provide you with more information on NARs RPR (REALTOR^® Property Resource), which is being tested around the country. Staff and the Board are also researching other programs like this one. We will bring you information on all of these as it becomes available. Stay tuned.