In addition to ethical reasons to not use pocket listings, these sort of listings affect data – comps and appraisals, specifically. If even 20 percent of agents did not enter data in the MLS, it affects how accurate Houston’s comps are. Accurate data is yet another reason agents can’t live without the MLS in Houston.
Fama adds that HAR does not make its info public – agents are the gatekeepers of info, so to speak, and it’s important to keep this data as accurate as possible.
“You’d be a fool not to put information about your transaction on the MLS,” she says. “We have true market data, and when properties close, agents can edit comments to make it even more accurate – a seller paid for $10,000 in repairs, or 3 percent of the closing costs, etc., that might affect its appraised value. Data is incredibly powerful and our most valuable tool as agents.”