Have you ever seen an MLS listing that seemed so good on paper that you couldn't wait to get to the house? and then....when you got there, the house was nowhere near as big, beautiful or in such mint condition as it was described?
The first thing you might think of is how dare those your agent and, those sellers waste your time like that. Well, I really rest the blame there on the sellers agent for misrepresentation, or utilizing "excessive artistic license" in the listing. Any way you want to label it, it's just plain deceitful on many fronts, and in some cases it can cost you dearly.
The two big offenders? Size and Condition. Once a buyer figures out that either one of these was not truthfully represented, they almost always walk away from the house. It creates a level of distrust that just cannot be mended.
Size: Truly the biggest intentional error on MLS data sheets is the size of the home. There are so many repercussions to this!
The bigger the better, right? Only if it's true- and by the way, some buyers don't consider bigger as being better. The buyers that do want bigger will know the second they walk through your door that the square footage was not accurate, and they probably won't buy your home.
For example, let me tell you that if you allow your home to be marketed as 4,000 square feet instead of the 3,000 square feet that it actually is, you will end up paying for it one way or another.
Buyers get a pretty good idea of home sizes as they look at properties. Your home will look very small compared to home with accurate sizes listed, and it will also appear to be overpriced based upon the competition.
Having a finished lower level is great. Additional living area is wonderful. If you have a full walk out basement, that's great, too. But it cannot be counted as main level living space. Be careful with lower level bedrooms, too. They pose additional risks. The town tax assessor's records are really quite accurate. The appraiser that comes out on the banks behalf to appraise your house will rely on the town's records as well.
There are only a few styles of homes where adding the finished lower level square footage is ever considered appropriate, (raised ranches, hi-ranches, and split-levels)and even then it becomes sketchy. At any rate, and whatever you do, if you feel that you MUST add the lower level square footage, it must always be disclosed within the remarks section of the listing if you choose to go this route. As an FYI, sometimes it really can be appropriate to list it this way with the caveat that it MUST be noted in the remarks section of the listing.
Condition: What about that house that is purported to be in "mint conditiion"? When I see a home that is marketed as being in mint condition when it's not, it always get's me wondering.. just how does that agent live where they think this is mint? Mint condition should mean that the house condition is in near perfection- no if's, and's or but's.
Bottom Line: It's always best to be honest and forthright- in your day to day life, your personal relationships, and your business dealings.
I am in the business of selling homes, and I'd like to be in business with you. Contact me today to get your home IN the Market, and I WILL get your home sold.