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#460533 - 01/29/18 11:35 AM Re: Gross living area stats [Re: avidstudent]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7837
Loc: Vermont's North-East Kingdom
I think this may be verging on going off-topic too much; but there's now too much water over the dam already that I can't see starting a new thread at this point; so here's hoping that the OP (avidstudent) will indulge me as I'm not trying to hijack his thread on the subject of calculating GLA.

I was somewhat of a new-bee when Vermont decided to eliminate Sub-Agency in the mid-1990s, and many old-timers saw it as some kind of loss.

Looking back now, I am pleased that I have usually let the responsibility for validating all information lie with the Listing Agency . . . . why would I ever want to become responsible for verifying EVERYTHING associated with a property listed by someone else ?

If I haven't listed the Subject property, I'm quite happy to serve as a Broker's Agent and represent their interests. And I've chosen to only become a Buyer's Agent IF the Buyer really demanded representation . . . . AND I had already sized them up as being compatible with me. Most Customers don't care, and why would I voluntarily put a target on my back ?

Towards the end, I think I almost always asked for and received a Retainer in exchange for my representation . . . . not always; but once I explained what being a Buyer Broker meant, I don't recall ever not being paid a Retainer.

I'm jealous of my time and know that I don't have to take on responsibilities with every Buyer who wants me for a slave . . . . and after more than 25 years of occasionally performing as a Buyer-Broker, I can say I've never been sued by a Buyer-Client. Can't say the same for Seller-Clients.

But this "L" Shaped Ranch episode that I described above looks like it was a pretty close call !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#460904 - 03/15/18 02:09 PM Re: Gross living area stats [Re: avidstudent]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 1078
Loc: Virginia
I took the NABPOP course 2-3 years ago. I don't think it's going to help inasfar as determining a square footage if you have absolutely NO figures to go by! It deals in-depth with figuring square footage when you HAVE figures or can take measurements yourself (it's REALLY in-depth). Good course - certainly not for an agent who thinks he can just skim through and get certified.

In Virginia, GLA is ABOVE ground. Below ground is figured at a different value and is not considered 'living' space.

Our MLS print-outs always have a disclaimer that entries are "deemed to be accurate, but, not guaranteed".

What gets me about buyers who gets ticked years down the road when they find out their square footage is less than what was stated or they 'thought', if they had an appraisal done, the appraiser IS supposed to do actual exterior measurements and buyers would know THAT way, or, I'd be saying, "You LIKED the house, didn't seem to have an issue with the size when you viewed it (probably several times), so what's your problem? You were visually happy with the size and the price." I can only think they 'thought' they were getting a fantastic "steal" at a large square footage (with a fantastic view) for such a low price and then find out they didn't get the fantastic deal they thought they were stealing from the seller. People are NEVER satisfied. Everybody else's fault but their own.

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#460908 - 03/15/18 07:57 PM Re: Gross living area stats [Re: avidstudent]
JohnN Offline
Member

Registered: 11/21/13
Posts: 247
Loc: Minnesota
I have a listing coming up, over $500,000, that is very difficult to measure. There are several additions that jut out every which way. I happily paid $150 for a cerified appraiser to come out and measure and supply a floor plan.

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