The short answer is not always. Per the MLS, the “MLS is deemed reliable but not guaranteed” meaning the listing agent does his/her best to put accurate info into the MLS, but there can be (and very often are) errors in the MLS listing. It is important to do your due diligence to make sure the information is correct. in Colorado we have a wonderful MLS system but it does rely on listing agents putting in accurate information. The agents get their information from the County public records as well as the seller. Frankly, some sellers don’t know every detail about their home or might not know about items done by the previous owners. It’s important to double check anything in the MLS that is important to you and we will help you with that.
Has MLS ever been wrong?
Yes, it’s often wrong. I get this particular question a lot after closing, when buyers discover something in the MLS wasn’t correct. Things like the property has engineered hardwood floors instead of real hardwood or the property isn’t in the school area it was advertised to be in. This is alarming but most agents do their best to add all information as accurately as possible. Since there can be mistakes, the bottom of every property listing in the MLS states, “The accuracy of all information, regardless of source, including but not limited to square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.” The buyer is responsible for their purchase and we recommend between the appraisal, inspection, and due diligence that we make sure no questions go unanswered.