Agent’s Source Of Square Footage May Affect Sale Price
Excerpts: If you use county tax assessor information as a square footage source in your listings you may want to rethink this. I recently did a study to see how homes sold based on where the agent got their information from and I have to say what I found was intriguing. Agent square footage and sales prices for appraisers is important.
The Greater Alabama MLS, of which I am a member, provides the source of square footage information that is included in the listing. The four sources include tax records, seller, building plans, and appraiser.
Below the article are links to some other good posts by the author on this topic.
My comment: Very interesting analysis and graphs. My MLS is the same, except “other” is included and tax records is the default. Tax records are iffy in California as Prop 13 passed in 1979 and records have not been updated since then, unless there is new construction. Also, what assessors include in GLA can differ from what the current market does. Some neighborhoods and properties are reasonably accurate and some are way off in my small city.
I have done a lot of relocation appraisals, where 2 or 3 appraisers appraise the same house. If we had the same square footage it was sorta suspicious… Some measure to the half foot, rounding up or down, some use decimals, etc. It is not exact.
I can really see a demand for using appraiser measurements. I will be writing an article in my paid newsletter soon about this topic. There are a few appraisers who do them, including discussing pricing and liability.
Tax records and Square Footage in Appraisals(Opens in a new browser tab)
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