Tucson – TAR MLS Time to Raise the Fine

Time to Raise the Fine

I spent time today getting the Statistics Report for November ready to publish tomorrow.   I’ve noticed almost every month this year the number of closed transactions being turned in after the statistics are pulled has been increasing.

This was a huge problem in the past.   A year ago (May 15, 2008 Tucson MLS Time to Raise the Fine) I wrote about all the closed transactions that weren’t showing up each month.   In December of 2007 I wrote about the 7% of closed transactions that weren’t showing up in any reporting because closed transactions weren’t being turned in within 2 business days.   In 2007 there were 810 transactions which went unreported for the year.

This past year there was a change in procedure to go back each month and roll those additional transactions into the current report.   This really is very beneficial when looking at a current report.   If you are keeping those reports month after month you will find that the previous months figures compare to the current report.

The fine is $250 per transaction not entered into the system within 2 business days after it is completed.   I have no way of tracking this during the month when this might be violated.   But at the end of the month when the statistics are pulled, it is done so after that period has closed.   The closed transactions entered after that date can be tracked.

Lets take the past two months as an example:

October 2009   Closed Transactions reported 1021.   The number as of today, 1078; Difference: 57 x $250 = $14,250

November 2009 Closed Transactions reported 1011, The number as of today, 1043; Difference 32 x $250 = $8,000

Money to Burn?

This adds up to $22,250 in fines in the past two months.   These are hard times?   Sounds to me like brokerages have money to burn if they are spending this much money because they didn’t enter their transactions in a timely manner.

You Want To Raise The Fine?

It is obvious isn’t it, the fine isn’t high enough to get the data turned in on time.   The pain isn’t significant enough to make this more than a scoff.   Then it is time to increase the fine and raise the pain level.   It isn’t up to me to set how high the fine should be.   I leave that to those in charge.   But I do draw attention to this now for everyone’s benefit.

I hope I’m not the only one that is frustrated with the lackadaisical approach to providing good solid data to the public and to the Real Estate community itself.

The Cynic in Me

Yeah, yeah, I hear the cynics, (because I are one)   “Well, why should they raise the fine, they got a good little money maker going there.   If they raise the fine then brokerages will start getting the data in on time and they will loose their cash cow”.   See I knew that’s what some of you were thinking.   Like minds . . .   Let’s hope this isn’t true.

BTW, the staff at TAR is top notch. They respond to emails, and return phone calls. We are fortunate to have such great people employed at TAR.

So weigh in now.   What do you think?   Is this something just a data geek like myself is concerned about or is this something that should be addressed as we move into the next Decade.   You tell me.