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MLS Policy Clarification on AVM passes by narrow vote

by Greg Robertson on May 17th, 2014

UPDATE: The tweet references a motion to send the policy back to committee. The actual policy did get approved.

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  1. Rosemary Scardina permalink

    Request for clarification from anyone who understands….Does this policy make it mandatory for MLS’ who must stay in compliance due to theur NAR E&o?

  2. Stephen McWilliam permalink

    Yes it is mandatory. However, it allows the MLS to establish a license agreement that would restrict the data for this specific purpose and prohibit the use for other ancillary purposes. Furthermore, the licensing agreement can prohibit the parcing of the data so as to prevent display of individuals sale prices on properties in the event state law, not state custom, would prohibit such display. No NAR policy or rule would ever been enforced if such enforcement would constitute a violation of state, local or federal laws. The display of an AVM is a composite of values and cannot be sourced and/or attributed to any one specific property. Lastly, brokers not wishing to have an AVM on their listings should have the Seller indicate NO AVM on their listing agreement which would then prohibit any such AVM from being displayed.

  3. Everyone seems to forget that all NAR Policies and Rules include a “Where Applicable by law,” and the MLS Rules allow local option to declare “Confidential Fields,” like sales information.

  4. Chris Carrillo permalink

    All good and correct statements. However, as the policy was adopted, I don’t think selective opt-out is allowed. I would be like saying individual listings can’t used for CMAs or BPOs.

  5. Stephen McWilliam permalink

    The policy doesn’t provide for an opt-out nor does it prohibit it from being restricted in via the data licensing agreement. The public display of an AVM when the Seller has instructed the Listing Broker not to display AVM would should be best prohibited as part of the data licensing agreement.

  6. I know our neighboring MLS has not instituted the US D.O.J. mandatory fields re: VOW AVM Y/N, and VOW Comments Y/N. The website vendors have no way to even monitor the consumer’s expressed wishes when the same listing appears in two systems.

    There is a whole other discussion where a broker may feel at a disadvantage because our rules have do not apply to entities that are not members of the Association.

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