Multiple Listing Service numbers and letters

Hello everyone!! I know it has been a while since I’ve been here. Honestly I’ve been very busy & I have learned a tremendous amount. Today I would like to share with you about the Multiple Listing Service. When a property is being sold by a realtor, it is usually found on a MLS system. The initials stand for Multiple Listing Service. Real estate brokers who belong to the MLS agree to share property information and work together to connect buyers and sellers. They also agree to split a commission for selling the property in an agreed percentage.

Here in Grand Junction, as part of Grand Junction Area Realtors Association, known as GJARA & pronounced “gee-jar-a,” we realtors use the Navica Multi-Listing System. When it is posted on the MLS, each property has its own unique 6-digit number. There are also letters in front of each number and a letter at the end of the number. For example, a complete MLS# could look like this: RR123456A. If you see “RR” in front, it means that the property is a “single family residence.” The “A” after the number means that it is an “active” listing, available for sale. The letters in front of the number should also coordinate with the Mesa County tax assessor classification of how the property is primarily to be used.
 
Here are some other examples of letters in front of an MLS#:
RC—a single family condominium for sale
RT—a single famiy townhouse for sale
 
An “M” as the first letter means that it is multi-family property. There can be:
MD—a duplex, or a building that houses 2 separate families
MT—a triplex, or a building that houses 3 separate families
MF—a fourplex, or a building that houses 4 separate families
MA—an apartment that houses more than 4 separate families
MM—a manufactured home park that houses multiple families

An “L” as the first letter means that the property is just land or that the land is the most important part. There can be:
LC—Land zoned for commercial use rather than for families
LD—A lot zoned for a duplex or some kind of multiple-family building
LS—Property that is 0-9.99 acres & is zoned for housing just a single family
LR—Property that is recreational farm or ranch with over 10 acres

There are other letters that can be in front of the number, such as CB for commercial buildings, OA for agriculture, SR for single family rental, and EL for commercial lease.

Here is the list of what the letter at the end of the listing number means:
A—Active, as mentioned previously
M—Under contract-Contingent/Kickout—This means that the buyer may not be able to go through with the contract because of having to sell another property first or not being sure about getting financing
U—Under contract, planning on everything following through & closing on the property
S—Sold, which means there was a closing where the title to the property was transferred from the seller to the buyer
R—Rented or Leased, just as good as sold if this was the goal for the property
W—Withdrawn, usually by the seller, and if this occurs early, something came up to interrupt the selling process
X—Expired, happens when the property has been available for sale as long as the contract specified and it was not sold
D—Deleted, removed from the MLS system, which could have happened for any number of reasons

That's it for today. I plan to share more later. I hope you are doing fine.