When you sit down to enter a listing into the MLS, it can really be a challenge, especially if the property is unique. So much information coming from so many places, it can be tricky to remember it all. To help, here is part three of our guide to obscure MLS fields and how they work (part 1, part 2, part 4 and part 5 are available here).
Roller Shields
Roller shields are the blinds you see on the outside of windows. Homes can have a variety of types and brands of roller shields that can help with anything from break-in protection to noise reduction to saving money on energy bills.
Capital Improvement Fee
A “capital improvement” is often defined as the addition of a permanent structural improvement or the restoration of some aspect of a property that will either enhance the property’s overall value or increase its useful life. HOA’s and their board members typically have language in their documents surrounding the rules of spending on capital improvements. There is not, however, an industry adopted definition of what projects constitute a capital improvement.
Variable Commission
Variable commission occurs at the time the seller enters into a listing agreement with the listing agent. By selecting yes the listing agent is telling the potential buyer’s agent that their commission (the listing agents) will vary if they write the contract for the property. Meaning the sellers net or what they make from the sale of the property will change. This occurs before the property has even gone on the market and there is a potential buyer.
Tandem Garage
A tandem garage is a two-car garage, but designed so that one car parks in front of the other. You may also run into a three car tandem style design, where two cars can park side by side with a third car behind one of those two.
Interior Levels
In the MLS an interior level is defined as a discrete horizontal plane of interior living space for a dwelling. This does not include basements. It can also be open to interpretation based on the agent enter the listing. Think about split level homes, they would have 2 interior levels even though they are not a 2 story house. Some agent may consider a house to be split level, while others may not based on the homes design. See an image explanation here.
