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Look What My Local MLS Announced

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TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
this was posted this week. it made me smile but then i wondered who will actually comply and how effectively will it be enforced...

The correct way square footage should be entered is explained below


  • Above ground is anything above grade/ground level that is finished.
  • Below grade is anything below grade level that is finished including any portion of that property whether it is 1 foot or 10 feet under ground – which means walk out basements should be included in below grade.

We are using the ANSI guidelines to be more consistent across our listings.


Above Grade Finished SqFt (approx) = Finished above-grade* areas only. The above-grade finished square footage of a house is the sum of finished areas on levels that are entirely above grade.


*Attic space should not be included in square foot fields. It can be noted in the Public Remarks Field.


**Note: Definition is based on the ANSI Standards for measuring Square Footage for single-family residential buildings. When considering Above and Below Grade for Bi-Level or Split-Level style homes, local practices, may differ. Click here for the ANSI Standards


Below Grade Finished SqFt (approx) = Finished square footage below grade/ground level. The below-grade finished square footage of a house is the sum of finished areas on levels that are wholly or partly below grade. Include the finished part of any basement space in this field.

**Note: Definition is based on the ANSI Standards for measuring Square Footage for single-family residential buildings. When considering Above and Below Grade for Bi-Level or Split-Level style homes, local practices may differ.
 

Tom Woolford

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Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Why bother measuring when you can just pull it off a property card.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
Why bother measuring when you can just pull it off a property card.

that's what they have been doing for years, which is what made me wonder how many agents will actually do what they are supposed to. so much easier for them to copy/paste from public records or just write down what the owner tells them.

i wonder if this will be opening the door to future law suits for misrepresentation...
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Fannie has access to many MLS systems.

Youse guys must have ticked her off. Now everyone gets to measure.
 

Mike Garrett RAA

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Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I get the sketch from the county, blow it up, print it on the back of my inspection sheet and then just verify the measurements. Since the 1970s, builders are required to file plans with the county and the sketches come from the plans as well as a field inspection by the assessor's rep.
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
that's what they have been doing for years, which is what made me wonder how many agents will actually do what they are supposed to. so much easier for them to copy/paste from public records or just write down what the owner tells them.

i wonder if this will be opening the door to future law suits for misrepresentation...

I wouldn't get too excited. Our MLS did this years ago and all the agents lost it. Got quite a few measuring assignments out of it. Then they lobbied to just use the public data with a disclosure. Now every listing has a "Square footage from assessment records" blurb in it.....and that was the end of it.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
I wouldn't get too excited. Our MLS did this years ago and all the agents lost it. Got quite a few measuring assignments out of it. Then they lobbied to just use the public data with a disclosure. Now every listing has a "Square footage from assessment records" blurb in it.....and that was the end of it.

that's exactly what we have now, or had.


SqFt Approximate FINISHED / Source:
Approx Sqft: 900/Auditors Website

Tot Living Area: -

Lot Size (acres): 0.3547 Auditors Website

Information is Believed To Be Accurate But Not Guaranteed
 

Renee Healion

Elite Member
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Joined
Feb 21, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Agents have been using assessor figures in recent years,an improvement over guessing and rounding to the nearest 1000. But it is not foolproof. A few years ago, I did contract work for the assessor office doing field inspections (measuring, visiting inside quite often) so I have some familiarity with how they work.

Recently I did an appraisal inspection in a house which just seemed larger than what was listed. It was a vague impression. I just measured carefully and wrote my figures down, somewhat distracted by the agent's conversation onsite. Later when I calculated the GLA, it was larger. I looked more closely at the street card and noticed that the inspector included a notation that he did not inspect the interior. He missed a good part of the upper level finish, just estimated from outside. So this property was listed as far smaller twice because the agent never checked for himself.

Like the OP, I cannot see how they are going to get agents to measure to that standard. A for effort but on to the usual disclaimers.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
that's exactly what we have now, or had.
I wish ours did. At least it is a source. We have a local brokerage who inflates SF and invariably adds basements and attic rooms into the GLA. At least 50% of their listings are inflated.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
They have appraiser data here which is really good for GLA. They give the appraiser a small discount for submitting it. On new construction it is priceless. I do ANSI.
 
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