"Here is an amazing opportunity for you to own a spectacular 800 square-foot alcove studio is in one of the citys most sought-after locations..."
Square footage quotations are historically one of the most abused terms in Real Estate. Exaggerated numbers are, at best, an error; yet more often than not those numbers are an attempt to finagle higher bids. For today's well-educated buyers, these "tactics" are counterproductive and can result in a lower closing price. When buyers see a mistake they begin to doubt the seller's credibility in other areas, including the asking price. If they suspect they've been lied to, they become angry. Gross exaggeration is a sign of weakness, difficult to miss, and flags an owner's asking price as attackable . This is hardly a prescription for a successful sale.In a perfect universe square footage would never be quoted. A far more scientific approach is to measure each room individually and compare the dimensions across apartments. The problem is that when buyers read ads that omit square footage, they automatically assume the apartment is overly small. As a compromise many realtors quote an estimated square footage, but are careful to ensure the listed number has some relation to reality.
It's far more effective to state all the facts about a property as accurately as possible. As each claim about a property is verified , the buyers confidence rises - and so may his bid.
Posts
