Do you speak real estate?
The remarks section is where agents get to describe their listings – the home they are actively engaged in trying to sell. Some agents simply give the facts. Others use their imagination to paint a picture so you can use your imagination to fantasize what it would be like to live there. While out-and-out lies are unethical, “puffery” is ok — even if the puffery paints an unrealistic impression of the house. For instance, it’s okay to say a house is “in a quiet neighborhood” or has “a great view” because this is subjective. But it’s not okay to say a house is the largest on the block if it’s not true.
Many times, agents go too far in either minimizing or overstating the reality. I recently read about a house with a “stunning” interior. When I looked at the photos, the bedrooms had laminate floors, $25.00 Home Depot light fixtures, and white kitchen appliances. (There also were a few missing electric plates.) Nothing wrong with laminate floors or Home Depot light fixtures, but let’s be honest – it’s not “stunning.” The fact is, you’re unlikely to find a “stunning” house for $60K in any major metropolitan area.
The next time you’re perusing real estate websites, use this key to decipher coded messages.
Phrase Interpretation
Needs some work | Major rehab to make it livable | |
Will only accept cash offers or 203k loans | This is a gut job | |
Value is in the land | This is a tear-down; the house needs to be razed | |
Price improvement | Price reduction because it was overpriced in the first place | |
This one won’t last long | Yes, it will | |
Motivated seller | Desperate seller | |
Hardwood floors | Maybe. Could be anything from vinyl to laminate to engineered wood | |
Rental potential | You wouldn’t want to live there | |
Improved basement | Concrete floor is painted (usually gray) | |
Newly updated | Very plain but functional | |
Investor alert! | Exclamation point means it definitely needs major rehab | |
Gourmet kitchen | Lots of counter space, and that’s it. Don’t expect SubZero, Wolf, etc. | |
Adorable (1) | Relatively small for the price | |
Adorable (2) | Small and needs some work | |
Cozy | Smaller than adorable | |
Charming | In good condition and somewhat smaller than average | |
Good bones | Needs lots of work, but not a total gut job | |
Elegant | Maybe a chandelier and some crown molding | |
Newer | Appliances or mechanicals less than 5 years old | |
Striking | Some architectural detail |
I’m Greg Bridges with Long & Foster Real Estate and I sell and write about real estate in the Baltimore area. Office 410-889-9800, Mobile 410-215-0565 or g.bridges@lnf.com
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