M, Home Buyer in San Francisco, CA

Why should i disclose sale price on MLS?I am buying a house, and i don't want my friends to know what i

Asked by M, San Francisco, CA Wed Jul 30, 2008

paid for it, but my agent is very UPSET that she wouldn't be able to list it on the MLS. What is the downside to her if i don't list the sale price on MLS? I don't want the pending price either.
am i being unreasonable?

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Both the Seller and the Buyer must sign the forms necessary to have your wishes respect and the sale price not show up in the MLS. If only l side signs, the forms are null and the price goes in. The Title Co you are using must receive these forms as they are the ones who do the Recording at City Hall.

It is shocking your Agent is upset. Her side of the sale will show up as representing the Buyer - but it will show the listing price. No big deal.

Good luck!
Sally
0 votes Thank Flag Link Wed Jul 30, 2008
Chances are your friends already know...think about it these days everyone knows everything via the net...chances are your friends already know from visiting other sites that give you house prices or the county records so no luck my friend, no luck
0 votes Thank Flag Link Wed Jul 30, 2008
First let me say that your agent is not behaving correctly. She is your "agent" she is to put your interests above hers.
Many people don't want the sale price posted. The method to do that is to instruct her of your wish and put it in writing. The brokerage needs your written instructions per the MLS rules. The agent will put the list price in the sold field with an asterisk. We all know what it means and if we are doing comps and your house is important enough we can call the agent and ask.
You might also be interested to know that sold information isn't accessible to the public from the MLS.
Web Reference: http://www.FogCityGuide.com
0 votes Thank Flag Link Wed Jul 30, 2008
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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Hello Home Buyer. If your escrow hasn't closed yet, the sold or pending price will not be shown on the MLS. Once your escrow closes, the price you paid automatically becomes public information here in California. It will show on tax rolls, property profiles, and other data that REALTORS(R), title reps, and consumers have access to. Your friends might not bother to look up what you paid, but they could. Our MLS system here in So. Cal requires sold prices be put in so that area comps can be accurate. When you're ready to sell at some time in the future, wouldn't you like your agent to have full access to the most accurate comps available?
0 votes Thank Flag Link Wed Jul 30, 2008
There is a way to have it on the MLS as sold so your agent and the community knows the property is no longer for sale without disclosing the final sales price. The price will show an asterisk by it and I think they will use the listing price.

That said, having the sales price disclosed is helpful to the greater real estate market b/c it helps establish fair market values (appraisals) for comparable properties. Also, I think the tax record will eventually show your sales price anyway and that is where sites like Zillow get their information.

Before Zillow, sales prices were harder for the public to get unless they asked a MLS member or went to the tax records department at City Hall. Now, it's all out in the open, though often inaccurately.

Hope this helps!
0 votes Thank Flag Link Wed Jul 30, 2008
It is certainly your choice about the MLS data. But at least in Illinois, this data is becomes public after closing anyway and many sites including places like Zillow etc. will pick it up, too. The upside of listing it in the MLS is that if you go to sell it agents and their buyers will readily know what you paid for it and hopefully won't offer you less!
Web Reference: http://number1nancy.com
0 votes Thank Flag Link Wed Jul 30, 2008
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