FACTS:

Broker A has a listing that was originally built in 1981. Between 2008 and 2012, the house had extensive remodeling done. As a result, the County Assessor’s Office made a “weighted age adjustment” to the property to reflect a new age of 1990.

ISSUE:

In the MLS, what year should Broker A list the property as, 1981 or 1990?

ANSWER:

See Discussion.

DISCUSSION:

Broker A may list the year of the property as 1990, based upon the Assessor’s records. However, Broker A should direct the Seller to disclose the two different years in the SPDS, and explain what occurred. The Buyer should be directed to the Assessor’s Office for any questions.