MLS-PIN New Required Data Entry Fields

MLS-PIN is the largest multiple listing service in the Greater Boston area. With all the short sales & bank owned properties on the market many buyers & sellers were looking to be able to sort out regular sales from special bank owned or short sale properties. This will also allow for appraisers & out of area consumers to better differentiate between regular sales and "distressed" or "other" sales.

This also allows for consumers to better search for properties that are bank owned or short sales if that's their primary interest. If your property is currently on the market you should make sure that the fields are properly filled out to not confuse those looking at the MLS data. The default position is unknown or non-disclosed but as more and more properties are properly filled out the ones with incorrect data or default data will be weeded out or risk the wrong analysis of it's condition or statistics.

New Required Data Entry Fields - from MLS-PIN May 2009

MLS-PIN has added two new required data entry fields for "Lender Owned" and "Short Sale with Lender Approval Required." The options for the newly required field Lender Owned are Yes, No, or Undisclosed. The options for the newly required field Short Sale with Lender Approval Required are Yes, No, or Unknown. These two fields have also been added to the standard listing search screen and are displayed on the full listing report. If during listing input of your existing listings, you chose Lender Owned under the current Terms field, the new Lender Owned field has been automatically updated to say "Yes." All other existing listings have been updated to say "Undisclosed" and we suggest that you manually update them.

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