Inflated square footage?
Hi everyone, I bought a studio in 2001. It was listed and assessed at 400 square feet. I never took the time to actually measure the square footage myself until recently, and was surprised to learn the square footage is really closer to 325 square feet. Is this type of square footage inflation common when…
Hi everyone, I bought a studio in 2001. It was listed and assessed at 400 square feet. I never took the time to actually measure the square footage myself until recently, and was surprised to learn the square footage is really closer to 325 square feet. Is this type of square footage inflation common when selling? Any opinions/insight is appreciated. Thanks.
As an RE agent I am not allowed to state square feet of an apartment to a customer, which is frustrating (to be polite).
We all know size does matter. I think it helps everyone involved to discuss square feet and is a critical piece of information for so many reasons.. Seriously.
I spend a fair amount of time explaining this conundrum to customers. Some take it better than others. I find most customers understand the number of square feet is only a gauge not a rule. People are pretty smart. When pressed to answer, which I am, I always say I am estimating square feet and encourage a customer to bring a tape measure.
In terms of agents and lying about measurements… they do. Don’t work with agencies or agents that employ these practices. Just say No.
I see the realtors sort of circling the wagons here. They don’t like this talk so they’re all -oh well, we always include the thickness of the walls, we always include the area under the radiators, and what does it matter anyway if the space is pretty?
Buyer beware!!!!
buyer be very aware, you said it 2:34!
Do not take any shit from lame-brain brokers who tell you: well we include the space beneath the radiator. What snakes!!
I can’t tell you how many times I’ve been out to look at houses that our for sale and the square footage advertised does not even match the floor plan provided by the real estate agent. I recently saw a 3 story in Bed Sty thatt was listed at 0ver 4000 sq ft, but the floor plan provided by the broker only added up to 1000 sq ft less than this– even if you included the cellar! I suspect that since the mistake is almost always an inflation of the square footage, that there’s reason to be suspicious of intent.
Buyer beware.
Even in single family houses – you measure from outside of building. It is never called ‘liveable square feet’…so don’t ever consider it to be.
well I’m all for suing brokers when they deserve it, but I do not think people would call you a liar if you were off by one square foot. You are insulting your clients intelligence. Of course one includes closets and the space under the radiator -do you really think that is what we are talking about here? We are talking about the false business practise of inflating square footage by a factor of ten to thirty percent. And then using the inflated square footge to show what a bargain per square foot the property is. that is what we are talking about.
Square footage in a condo can include “limited common elements” and may be measured to the exterior walls. You also have to include closets, bathrooms, space beneath the radiators, etc.
I’m a broker and I will list the SF of a condo as it is stated in the prospectus. I don’t put square footage for coops as it is not stated in the offering plan. When asked I’ll tell the truth & say I don’t know –which will start you all bitching about how brokers who don’t know their properties–yet if I gave you a number that was 1SF off you’d bitch about lying thieving brokers (and try to sue me).
It matters because in order to trick the public, realtors and developers use “price per square feet” to compare listings and of course the square feet are completely manipulated. And the best part is that nobody goes to jail.
I posted about this a few days ago. square footage is a total crock. It is totally false half the time. measure the space yourself and don’t believe the realtor. It is a false business practice plain and simple but no politician has yet taken it on.