Accuracy in Real Estate Listings
Posted by Hank Miller on
Technology continues to transform marketing, real estate in particular. Accuracy in real estate listings is more concerning than ever, 
how a home is represented and described may not always be what a buyer sees. Advertising, especially in real estate, always pushes the boundaries, but there is an expectation that the information presented is factually accurate.
Accuracy in Real Estate Listings Matters:
- Legal Implications: Providing inaccurate information could lead to legal issues. Misrepresentation of a property can result in lawsuits and fines. Real estate laws vary by state but there is the expectation of full disclosure of all material facts about a property. Seller disclosures are completed and assumed to be truthful but that’s not always…
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national media, this market is not crashing and there is no reason to expect it will. A May 2022 to May 2023 look at key Atlanta housing market indicators demonstrates what we professionals saw; an adjustment to rising rates followed by a recovery.
fixtures, things can get sticky. Maybe they love the special features like the glass kitchen cabinet doors, custom lighting fixtures, high tech thermostats or even a favorite miniature Japanese Maple tree. Traditionally, these items remain in the home for the next owner to appreciate. However, some sellers have a deeper attachment to certain items, going as far as removing them prior to closing.
advantageous, a limited housing supply led to a grueling home buying experience. Atlanta area home sellers on the other hand, enjoyed historical sway and leverage. They could effectively name their price and state the conditions; buyers were willing to comply. Things changed fast, midway through ’22 rampant inflation and the Fed slammed on the brakes. Things quieted and the stage was set for the spring 2023 housing market in Atlanta.
sales reps or calling the information lines. Seemingly innocent inquiries which often result in them being unrepresented by a buyer’s agent if they move forward. Builders love unrepresented home buyers. Not using a buyer's agent when building a home is the single biggest mistake new home buyers make and it will result in problems over the build.
seeing distress around the greater Atlanta market. That message however, is often taken at face value and some home buyers expect a bargain basement spring. Best advice as to what home buyers should expect in the spring of 2023...understand that it's not the spring of 2011.
the last two years was real estate. Prices and inventory of course, but the massive influx of "hobby agents" over this period was a lesser covered negative result. The number of real estate agents soared to record highs, as did buyer remorse and complaints. It is likely that a frequent question in 2023 will be; can you fire a real estate agent in Georgia? YES, but the devil is in the details of the brokerage agreements.
certain to be on the radar of all is the appraiser; sometimes an ally, sometimes an enemy. More on Karen later...
Fear sells. The speed at which surveillance devices became "the norm" after 9/11 is mind-boggling; from satellites to cell phones, cameras are rolling. Out shopping for a home, always assume that you are being recorded when you step onto that property. The idea that home surveillance devices are now essential is marketing gold, not to be fully ensconced in "protection" could easily result in your or your loved one's demise. The result? Continuous growth of home security systems, from Ring to full video/audio surveillance; inside and out. Homebuyers are being recorded and there's no obligation for anyone to disclose that.
are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In fact, some real estate agents would also benefit from a reminder about their respective roles.