MLS & Associations

Big brokers want NAR to require that MLSs provide data for AVMs

Some MLSs argue that selling valuations to lenders is not part of marketing a property

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Big brokers would like to use multiple listing service data to create automated property valuations to sell to financial institutions, and they want the National Association of Realtors to require MLSs to help them do it. That's according to a letter from The Realty Alliance, a network of 60 or so large real estate brokerages that says it represents more than 100,000 Realtors nationwide and counts heavyweights such as HomeServices of America, Long & Foster Real Estate and Crye-Leike Realtors as members. NAR is set to grapple with a policy proposal stemming from that letter at its midyear conference in May in Washington, D.C.. "MLS participants are already entitled to use MLS information to broker and value real property," NAR spokeswoman Sara Wiskerchen told Inman News. "So the issue isn’t whether participants can develop AVMs for clients or customers, but rather how MLSs deliver the information to participants to do the AVMs." NAR operates a money-losing subsidiary, ...