Income vs. Residential: Do You Know the Difference?

When you enter a listing into the MLS, it’s important to have a thorough understanding of the available property types so you can correctly categorize your listing. This helps you target the right audience, especially in searches conducted by brokers in Matrix, by clients in the Client Portal, and by consumers on REcolorado.com.

Because REcolorado subscribers do business across the state in a variety of terrains, there are five available property types. We’ve made sure each type contains the fields and options you need to effectively and successfully market a listing.

Want a handy reference document? Click here to download the Dictionary of Property Types >>

Commercial

A property type that brokerages transactions, including offices, industrial, retail, hotel, or another special purpose. If you’re listing a commercial property for rent, be sure to mark the Transaction Type as For Lease.

Income

A residential property type that has multi-family properties with two or more units, which could generate income for the buyer. This includes (but is not limited to) both sides of a duplex/paired home, an entire triplex, or an entire condo complex.

Land

A property type that includes vacant land zoned for commercial or residential use.

Rental

A residential property type that is for rent or lease. You must offer compensation. You should not enter commercial properties under this type. If you have a commercial property for rent, refer to the Commercial property type described above.

Residential

A property type that consists of a single-family dwelling. This includes (but is not limited to) a house, one side of a duplex/paired home, one unit of a triplex, one condo in a condo complex, a townhome, or a patio home.

Residential also includes Farm & Ranch, a property that is income producing and consists of 35 or more acres.

Pro Tip: A home is categorized as Residential – Attached if it shares a wall with another home, even if that wall is a garage.