Data is the main ingredient in the appraisal process. Clear, concise and verifiable data helps to ensure an accurate appraisal report. Where do appraisers get such data? They depend on the multiple listing service. In states with non-disclosure laws—i.e., where sales prices aren’t included in the public record—an MLS is typically the only source of the data. In disclosure states, an MLS is still generally the most accurate source. So, what happens when the data is not there or is inaccurate?
