If you do have proof of this rampant price inflation, I would think it’s your duty as a licensed agent to report it to TREC.

Otherwise you’re just some blowhard on a blog.

Not doomed. Just overvalued in some areas.

It seems to me that whether a house is bought by a fool, a buyer from out of market, or just an inaccurate sale listing, it’s still a sale and can be fairly compared to other similar houses in the area. Besides, not ALL agents are posting bad numbers so a comparison of numerous houses should still balance out and give you an idea of what the prices are doing.

What would be the motivation for this? Do you really think an agent is going to risk their license to pad their MLS stats?

Anyway, I just wanted to point out some inaccuracies in your post. Feel free to continue spreading misinformation throughout the blog.
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The motivation is to keep the comps up to indicate a stable market with little devaluation. Many sellers don’t care. Most buyers don’t care either. HCAD is aware of the selling price. They just don’t make the sale price available to the public. The buyer of course protests the subsequent appraisal if HCAD doesn’t make the adjustment itself. Which it usually doesn’t. Selling agents only care about the commission. Showing a house sold for $250,000 when it only sold for $200,000 guarantees a little more commission on the homes that are comped at $250,000 instead of $200,000. And commmissions are all any agent cares about.

You want to talk about ethics? Ask TREC how many complaints are filed each year against Realtors in Texas. Just because they don’t act on most of them doesn’t mean there is no basis to them. It usualy means the Realtor has an attorney. And TREC for some reason doesn’t like messing with attorneys.

I doubt TREC would revoke someone’s license over an “error” on MLS. Occasionally I’m sure someone reports the “error” and I’m also sure it’s blamed on an assistant who was in a hurry.

I guess that makes you an expert then.

So you’re proposing that agents are simply lying about the data they enter…and the selling agent’s never notice or care?

What would be the motivation for this? Do you really think an agent is going to risk their license to pad their MLS stats?

Anyway, I just wanted to point out some inaccuracies in your post. Feel free to continue spreading misinformation throughout the blog.

I have seen the most absurd list of excuses in your posts.

Please explain to all of us why the MLS data is not accurate.
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I’ve had a real estate license since 1987. As for MLS data it is dependent upon the Realtors entering the correct information. Someone has to notify MLS that the information is incorrect. And the selling brokers usually don’t report incorrect information reported by the listing broker. Not the smart ones anyway. Honor among thieves as they say.

(although if i was trying to sell my own house….and it wasnt moving….)
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This does occur but any agent can easily pull up the actual listing date of a property. This big “*” symbol next to the DOM is a big give away.

I find that it’s a stupid practice and ends up casting more attention on the DOM figure than would otherwise be the case.

You are correct that this could potentially skew average days on market figures.

I’m addressing the sales data.

What reason do you have to believe that the sales data in inaccurate?

(although if i was trying to sell my own house….and it wasnt moving….)