The ITSO MLS® Rules say that each property that is traded separately must be listed individually. Sometimes properties may be sold together, or a property may be the subject of more than one listing. This article explains when to use separate listings and when to use a single listing.
The example property
The scenarios below use a duplex. Each side has its own PIN and ARN. The same person owns both sides.
Scenario 1: The units must be sold together
The Seller insists that both units be sold together.
- Create a single listing for the property.
- Reference both PINs and both ARNs in the listing.
Scenario 2: The units can be sold separately or together
The Seller is willing to sell the units separately or together. Create three listings:
- A listing for unit 1
- A listing for unit 2
- A listing for units 1 and 2 together
Each listing should reference the MLS® numbers of the other listings.
When the property sells
Update the listings to match the sale. For example, if the units sell separately:
- Report the sale price for unit 1 on the unit 1 listing.
- Report the sale price for unit 2 on the unit 2 listing.
- Cancel the combined listing. The sale of the whole building is no longer an option, so report the sale only on the two individual listings.
Scenario 3: The units are for sale separately only
Both units are for sale, but selling the building as a whole has not been considered.
- Create a listing for unit 1 and a separate listing for unit 2.
- You do not need to reference the MLS® number of the other listing.
Summary
| Scenario | Listings to create | Reference the other MLS® numbers? |
|---|---|---|
| Units must be sold together | One listing with both PINs and ARNs | Not applicable |
| Units can be sold separately or together | Unit 1, unit 2, and units 1 and 2 together | Yes, on every listing |
| Units for sale separately only | Unit 1 and unit 2 | Not needed |
Tips
- Each property that is traded separately needs its own listing.
- On a combined listing, reference every PIN and ARN.
- If you have individual listings and a combined listing, reference the other MLS® numbers on every listing.
- After a sale, update every related listing. Cancel any listing that is no longer an option.
- For the full rules, see the ITSO MLS® Rules and ITSO MLS® Policies.