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Lot Size will be Added to SFARMLS Sept. 4

Ever wondered the specific lot size of a property? Now you don’t have go to the tax records to find this information. On September 4, SFARMLS will be adding a new "Lot Size" field to all property types, except condo, apartment lease and business opportunity. Users will be able to enter lot size data and filter their search using either square footage or acres. The new "Lot Size" field will also be added to the appropriate MLS reports.

 

SFARMLS Will Add Fractional-Timeshare Property Type Sept. 4

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A new property type for fractional ownership listings, commonly referred to as timeshares will go live on the SFARMLS on September 4. Fractional ownership or timeshare listings are properties in which multiple parties possess rights to use the property, and each owner is allotted a period of time that they may use or occupy the property. Fractional-timeshare listings will include fields that allow listing agents to indicate the percentage interest being sold and the period of time that a purchaser is entitled to use the property.

A fractional-timeshare listing could be appropriate for any type of property but is most commonly found with condominiums. The fractional-timeshare designation refers to the time-limited nature of the ownership. It should not be confused with the fractional financing available for tenancies-in-common.

 

Tuesday Tour Deadline Changes

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The SFARMLS has changed the Tuesday Tour deadline to noon on Mondays, from the previous deadline of noon on Fridays. The change to a Monday deadline gives listing agents more flexibility in promoting their listings. Agents can continue to enter new listings on Friday, allowing for a weekend open house, or they can choose to enter listings on Sunday or Monday morning, with the Tuesday broker tour being the first showing. The process to add a Tuesday Tour listing remains the same; simply select "Tuesday Tour" from the listing's Revise Listing menu. Users will still be able to cancel their tour at any time.

Know the Perils of Off-MLS Listings

As the California real estate market changes, so does the vocabulary of real estate. Once common phrases from the real esoff-mls-listingtate recession such as distressed property, short sale, and shadow inventory are fast being replaced as the real estate market improves by new phrases, such as equity sale, multiple offers, and "off-MLS" or "pocket" listings.

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SFARBoardThe San Francisco Association of REALTORS® is a professional trade association of more than 4,000 licensed real estate agents in San Francisco and the Northern Peninsula.

Our members abide by a strict code of ethics and have access to a wide variety of business services that are not available to non-REALTORS®. This gives them a competitive edge in the marketplace, enabling them to provide superior services to buyers and sellers of real property. Join us!

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