March/April 2006 Issue
Page 9

Dear MLS Update:

I received a call yesterday from the MLS office questioning the closed price reported on one of our listings. Can you explain why we were called and what we can do to prevent a call in the future?

Closing in Goshen

Dear Closing:

Your office was called because the Sale Price far exceeded the list price. When we see this we always double check to make sure the entry is correct. Many times the number has been entered wrong in the MLS mostly because the system uses two fields when entering the price. The first field is for the thousands. The second field is for the hundreds. The list price for your listing was entered correctly as 69,900 (69 thousand, nine hundred). However the closed price was entered as 69,900,000 (69 million, nine hundred thousand). This happens when the price is entered in the first field only. What can be done to prevent it? After the first field is entered (thousands) TAB to the second field to enter the hundreds.

The MLS monitors these prices very closely because one error can drastically impact the statistics in our MLS. If you have any questions, give us a call.

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