DON'T SELL BY SQUARE FEET! THAT ADVICE IS SIMPLE RISK MANAGEMENT!

BOB HAYWOOD provides some authority for advice I've given agents for decades - "I'm Sorry, But I Can't Tell You How Big the House is..."

DON'T SELL HOME BY SQUARE FEET. 

About 20 years ago, I read a case law report of a lawsuit by a buyer against their agent.  THE AGENT LOST.  The square feet given the buyer by the seller was 100 square feet lower than that included in the appraisal report. 

Since that date, about 20 years ago, I have never sold by square feet.  We sell by bedrooms, bathrooms, amenities, lot size, etc. 

IT JUST MAKES COMMON SENSE.  Quoting square feet is rarely relevant to the information the buyer is really seeking.  For instance, if the house is showing 2500 square feet in the tax record or former appraisal report or even if you measure the perimeter, that information often does not satisfy the buyer's needs.  Agents too often believe that if a buyer requests XXXX square feet,that the buyer knows what it means.

WHEN A BUYER REQUESTS LARGE BEDROOMS in a two story home, they dont always understand that the OPEN FOYER that they also wish to have will reduce the square feet on the upper level available for bedroom space. 

WHEN A BUYER REQUESTS A HOME WITH AN ATTACHED GARAGE RATHER THAN AN INTEGRATED GARAGE to maximize the interior square feet, that the lot must be large enough to accomodate that garage width in addition to the house with the required set backs. 

WE WANT 5 BEDROOMS ON THE BEDROOM LEVEL BUT NO MORE THAN 2,000 SQUARE FEET TO KEEP THE PRICE DOWN!  Not going to happen.  When a buyer hears that the average cost per square feet is $XXX, they will often divide their mazimum price range by that number.  However, they then design the home that they want which often far exceeds the square feet for which they qualify to buy.

WE WANT A LIBRARY/DEN ON THE MAIN LEVEL.  Fine.  However, you're not going to get that feature in a 2,000 square feet home with traditional floor plans.  The homes in Maryland and Northern Virginia that offer main level library/dens are going to need at least 1350 square feet on the main level.  If your price range is no more than 2,500, the only way to have a library/den on the mail level is to use the space designed for the living room, a floor plan not yet accepted by most buyers in this area. 

HOW DO WE OVERCOME THE REQUEST FOR SQUARE FEET SEARCHES??  We show the buyer homes that meet their needs requirement, i.e., bedrooms, baths, kitchen isle, separate tub/shower, open/closed foyer, etc.  Finished basements often offer an alternative to finished rooms on the main and upper levels.  

RISK REDUCTION LESSON #14.

• DON'T SELL BY SQUARE FEET.  
• DON'T RISK BEING SUED. 
• DON'T RISK YOUR BROKER BEING SUED.

"LET'S ALL BE CAREFUL OUT THERE."  Don't "stake yourself out" by the need to satisfy every request of home buyers.  BEST PRACTICE requires that you show homes that meet their needs criteria, not simple square feet, which has many meanings to many consumers and agents.

Square feet requests are more easily satisfied by new home builders.

Courtesy, Lenn Harley, Broker, Homefinders.com, homes for sale in Maryland and Virginia, 800-711-7988.