Since Texas is a non-disclosure state, a listing broker does not have to report a client’s sales price to the MLS.
Fiction. MLS rules state that sales of listed property, including sales prices, shall be reported promptly to the MLS by listing brokers. As such, the Residential Real Estate Listing Agreement, Exclusive Right to Sell (TXR 1101) includes a notice in Paragraph 6A that goes over this requirement so that clients are aware of their broker’s obligations. Local MLS rules also control how, if, or when sales prices can be disclosed by brokers or used in advertising.
It is a misconception that the status of Texas as a non-disclosure state means that a listing broker does not have to disclose sales data to the MLS. That is not true. Rather, it means that governmental entities—including local appraisal districts—cannot force anyone to provide the sales price to those entities.
If this is the case, should MLS allow government agencies, ie., Appraisal Districts to be part of the MLS?
based on my interaction last year during my protest, they have access to MLS somehow.
Yes they do and have for a long time.
See my post below
Agreed. CADs must have some kind of agreement to get sales info because every protest I’ve had, they’ve had MLS sales abundantly.
See my post below
See my post below
I have taught many CAD appraisers in my association’s MLS Rules and Regs Class which is required for everyone who gets access to the MLS.
This is a serious issue that I’ve been championing for a few years now. In a new age where homeowners and homebuyers have many other options besides engaging a Realtor to represent them to buy and sell property, we should be hyper vigilant in the protection of their information, such as sale prices. Every member of Texas Realtors should be pressing upon their local association, as well as with Texas Realtors association at the state level. It will require pressure from all of us, at every level. So call them! Email them! Demand change. We need to purge this breach… Read more »
Well articulated. TR needs to straighten up their ambiguity.
See my post below
last year at a Collin County protest, I asked the appraiser if she had MLS access? She looked right at me & said she did not. I asked where her data came from & she said ‘a little of everything’. This year… they sent me back a Sales Comp report (MLS) and an EQUITY COMP report. How do you argue an EQUITY COMP report when protesting your property tax today?
See my post above
By using a counter set of equity comps. And pointing out the deficiencies in their equity comps.
This just ain’t right.
See my post above.
Since Texas is a non-disclosure state, why are the appraisal districts able to access the closed reports on MLS systems? Thank you Robin Kelly 0334337
See my post above
Does that apply to Commercial transactions as well?
Probably not, but check in with your local association.
Some CADs will over value a property that has recently changed hands. Many residential property owners will send in their closing statement to prove their protest. Any documents sent to CAD become property of the CAD. A closing statement helps the CADs a lot in valuing neighboring properties.
Root cause is the contradiction of laws – Tax code requires CADs to value properties at market as on Jan 1st. Non-disclosure law prevents CADs from obtaining market values from the source – county clerk. CADs have no option but to use MLS and where sale price is not on the MLS, use other techniques!
What if your buyer doesn’t want their purchase price disclosed on MLS?
It’s a terrible system. Realtors work hard hit the pavement everyday to have the mls’s/boards sell the info they work hard to produce and sold to third party vendors so they can share with appraisal districts, Wall Street and other data conglomerates. Not all bad but the data needs to be protected for the consumer and the public’s benefit.