Buyers tips on reading and understanding a listing description (Part 1)
My advice is to go and see the property with your own eyes. Ask questions and make sure that you understand and verify as much as you can about the properties that you are interested in possibly purchasing. It is not wrong or a bad idea to view the property a couple of times and take notes. This will help you get a true picture of the home.
When reading the listing description, remember often time the agent have to abbreviate and use buzz words to get as best description out to the public as possible. I have provided a cheat sheet to help you understand what agents usually mean with the buzz words.
A good Rule of Thumb: When reading a listing, pull it apart for descriptive words that are usually put there to either pull you in and/or is trying to cover up a weakness in the property. Be careful of hype words and exclamation points and bold print.
When you read a listing description, pull it apart for descriptive words that are trying to cover up a weakness. And beware of exclamation points: Too much hype is usually just that - hype.
Here is a few tips on descriptive buzz words:
Descriptive words | What they probably mean |
Custom | This means one of a kind, unique/special specs |
Lovely | see wonderful, fantastic, romantic |
Great neighborhood | This is to make you feel safe with the neighborhood |
Renovated | Wow or oh no - check for permits |
Remodeled | Same as renovated - check for permits |
Fixer-upper | A shack, check your budget, check foundation |
Handyman's dream | A wreck, same as fixer-upper |
Needs TLC | Probably not taken care of, you'll find a lot of these with foreclosures |
Romantic | Old, cozy, cute, tiny, hardly any space but could be decorated "cute" |
Tear-down | Just what it says: tear it down - check your budget - like fixer |
No price | Overpriced , might be room to negotiate |
Great starter home | Tiny, small, small, need TLC, charming |
As-is | Foreclosure, fixer, handyman's dream, Needs TLC, might even be a tear-down! |
Magnificent | same as, fantastic, wonderful, beautiful, great, etc. |
State-of-the-art | Who knows, it could be a modern home or it could be off the hook! |
Stunning | Pretty good word to say nice, something like wonderful, lovely, & fantastic |
True Value | Is saying it is priced right or below market, you'll have equity! |
Spacious | Hugh, large - check the square footage |
Wonderful | Another word like Fantastic |
Well-maintained | Owner has "owner's pride", might be older but in good shape |
Fantastic | This could be a matter of opinion... |
View | No matter how far away that view is |
Cute or cozy: | Small, tiny |
Gourmet | comes with the works |
Charming | Small (might be a little outdated) |
Here are 5 examples, in which I give my 02 cents of how I interpreter the descriptions - keep in mind everyone read things differently.
1) Looking for a project? Possible income property- needs TLC. lots of potential: To me, an agent, this means "attention investors" and that would be investors or buyers that have money to put into a property. It was built in 1959 and the photo says a million more words.
2) This home was the model. Stunning single level. Gracious entry, large dine-in kitchen, beautifully maintained, boasting super landscaping. To me, an agent, this means the words model, stunning, gracious, beautifully, boasting are all buzz words but it does make the property sound "irresistible". I'd go see the property first before I rendered must option because the listing agent did not put a photo on MLS.
3) PRIDE OF OWNERSHIP SHOWN HERE. To me, an agent, this is an older home (built: 1956) that the listing agent heard how proud the owner is about their property and they heard this during the whole listing presentation! The agent was so excited, the whole description is typed in capital letters!
4) THIS IS A MUST SEE PROPERTY!!! IT HAS SOME VERY UNIQUE FEATURES.
To me, an agent, I'd look at the year built (1966). The word unique carries several meanings.
5) One of the largest, most spacious floor-plans in (city). An incredible opportunity awaits with this amazing home. 5 Bedrooms - 5 1/2 Baths. Detached guest unit. And so, so much more... This home is a real Must See and a TRUE VALUE! To me, an agent, this is a good listing description, because the house is large (over 4,000 sq ft), and it could be a great opportunity to own this home.
Part 2 will be on common (or close to it) abbreviations in listing descriptions.
the Mother and Daughter Realty Team @ Evolve Realty Group (866-750-8282)
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