Launching soon, the current commercial transaction types of Business Opportunity, Commercial Sale, and Commercial Lease will become individual property types! Each property type will have its very own corresponding data entry input form with only fields that directly relate to that category. This will allow for streamlined data entry and property searching for commercial properties.
Additionally, when a Commercial Lease listing is entered, the listing agent will be required to complete the price field and indicate the Lease Price Per Unit as either total or per square foot.
Commercial Property Types
New commercial listings will be required to be input as one of three different property types in the MLS, including:
- Business Opportunity - Selling the business name may or may not include real estate or equipment related to the business type.
- Commercial Sale - Sale of a commercial property where a transfer of ownership will be relayed.
- Commercial Lease - Entering into a contract with the owner to use a commercial property for a specified term without transfer of ownership.
Separating the property types for commercial listings inside of Matrix and adding the new lease price field will ensure Stellar MLS is meeting RESO standards and that you, your clients, and the commercial marketplace are receiving the most relevant commercial listing data available.
For questions or concerns, please email us at firstname.lastname@example.org or call 800-686-7451.