Tuesday, December 22, 2009

Realtors' MLS Hides the Rancid Truth

Surprise!! MLS data are not accurate.

OK. So if real estate market conditions are local, and millions of Americans study local market housing conditions and even shop for homes on the internet at sites like Realtor.com and other MLS-linked database services, then why is the information therein so incomplete and inaccurate?

If "local" is the critical factor here for buyers and sellers alike, then why not make a concerted effort to clean up the slop?

ArrrghhhhH! When will we all stop asking such ridiculous questions!!!

Realtors declare "trusted advisor" status in their industry by fiat. Our first mistake would be to accept this preposterous claim and then understand it to have been supposedly earned sometime ago. They have NO claims to such authority. The colossal housing crash of California and the nation has thoroughly stripped realtors of any such authority.

This MLS problem really needs to be corrected. Not just because it's feeding consumers inaccurate and incomplete data. That can happen with any database. It should be corrected because of the massively incorrect inferences that can be, and are, regularly drawn from such "local" real estate market numbers.

See the excellent write up here by Dr. Housing Bubble Blog on the same subject.

Let's get it together people. First do the home work. Then you can maybe play princess in front of the mirror all you want. Declare yourselves empresses of the kingdom of ashes for all I care.


Colin said...

They really said inventory was high??!?!? Wow. What group is that, it's too hard to read the small print.

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