MLS® Update

Refresher:  Entering Sales and Leases

The MLS® department has been receiving many questions about how to enter sales that have been sold by a salesperson who is not a member of RAHB and about how to enter leases.  The following MLS^® Policies provide clear instructions for reporting these sales and leases:

SALES
When broker loading any sales where the selling salesperson is a non‐board broker, members will be required under Selling Salesperson field to enter “NONMEM” and on the comment line “SOLD BY N.B.B.”.

LEASES
Leases reported for the sold sheets must be on a per unit basis so that the listing and the lease price are reported in the same units. i.e., list price = $14 per square foot; lease price = $12 per square foot; the comments line of the sold sheet will give the breakdown and total volume for the lease.

Example:    Leased for 1 yr. @ $1,000/mth.                    =    $12,000

                  OR

                  Leased 100 sq. ft. for 5 yrs. @ $5/sq. ft.      =    $30,000

The lease may have different prices for different years and those amounts must be broken down.

Example:    Leased 100 sq. ft. for 2 yrs.   =    $13,200

                  1^st yr. @ $5/sq. ft.                  =    $  6,000

                  2^nd yr. @ $6/sq. ft.                 =    $  7,200

Questions regarding the reporting of sales or leases should go to the ML^® Department, 905.667.4650.