Property Class

Posted by | May 01, 2012 | TERM | No Comments
What does property class mean?

What Does Property Class Mean?

Property class is used on real estate listings and in the MLS® system as the most basic way of categorizing and describing a property.

Real Estate Agent Explains Property Classes

There are only 5 property classes, they are:

 

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Property Class Abbreviation
Single Family SF
Condo COND
Rural Land/Vacant Lot RLND
Country Residential CRES
Country Recreational CREC
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Property class is the first category in a three-tiered categorization system used by the real estate industry. There are further subdivisions in categorizing real estate – they are property type and property style.

In Edmonton, real estate can only really have 3 property classes because there are no Country Residential or Country Recreational properties inside the city. These are still an option outside the city in the surrounding counties, though.

Why Does It Matter?

When you are comparing properties, or looking up homes for sale, it is important to only be looking for what you want. That is, condos are not the same as single family homes which are nothing like vacant lots.

 

by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com

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About Alan F Macdonald

Alan F Macdonald is a real estate agent with Realty Executives Challenge in Edmonton, Alberta.

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