BY THE NUMBERS

5 TIPS TO MAKE NEW

By the Numbers: Understanding the True Value of Square Footage

Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure. True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of

a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.

1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus, original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.

2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage:

n Called “below grade spaces,” basements and sunrooms beyond a home’s typical

living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings.

n Did you know the space inside closets and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.

n When recording square footage, ANSI actually suggests performing measurements from a property’s exterior—though this method does not account for the thickness of exterior walls, which could skew square footage numbers.

n Just like below grade spaces, a garage, a pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.

3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures

when it comes to true square footage? If you want to take on the endeavor yourself, here are a few helpful steps to take.

n First, you’ll need a few things to get started, including a tape measure that can measure at least 100 ft., graph paper, and a pencil.

n Next, choose a room to start measuring wall-by-wall. Measure Wall 1, then proceed to assign each square on the gridded paper a corresponding measurement, rounding to the nearest tenth of a foot for the sake of clarity.

n From there, draw out the wall you measured and measure the remaining walls in the

room. Once you’ve completed the room’s measurements, multiply the room’s length and width to determine its square footage.

n As you go measure throughout the home, using your own system to scale, you will construct a failsafe floorplan.

Mastering your craft is everything, and the real estate industry is no different. Every now and again, it’s worthwhile to update your well of information, take matters into your own hands, and continue to innovate with the industry. While square footage may not seem like the juiciest starting off point for such a venture, never forget: mastery of technical knowledge is a sure sign of expertise.

CARLOS ESPINOZA

Carlos Espinoza found his passion for real estate at a young age. When he graduated from Towson University in 2005 with a degree in Business, his sister—who is a Realtor— asked him to work with her. He decided to give it a try, soon became licensed, and found his passion for the real estate business. Fifteen years later, he serves the Washington DC area, and has consistently been among the top producers in the region and has achieved RE/MAX Platinum and Hall of Fame Club status.

As a bilingual agent, he works with both English and Spanish speakers. He prides himself on providing outstanding service to his clients and earning their referrals to friends and family. As a result of his dedication to quality, an impressive 90% of his business comes from repeat and referral clients. “I have a commitment to providing excellent Realtor services for the sale of their home, or finding the perfect home and negotiating a great price,” he says. His clients appreciate that he is always available and is straightforward, honest, and always puts their interests first. To stay in touch with past clients, Carlos prefers a personal approach, reaching out by phone, following them on social media, mailing letters and cards, and sending gifts to celebrate important milestones. “Many of my clients become close friends,” he explains.

When it comes time to market a listing, Carlos understands that in today’s market, most buyers start their search for a home online. First, he provides cleaning, staging, landscaping, and professional photographers to prepare the home. Once the property looks its best and is ready to go to market, he posts the listing on social media platforms, Homesnap, and all the major real estate websites. He also spreads the word throughout his broad sphere of influence. This thorough, meticulous approach often results in quick sales at excellent prices. Last year, as a solo agent he completed 36 transactions for a total of $15 million in sales volume.

What’s Carlos’s favorite part of his job? “I like to help people accomplish their goals, whether it be to trade up to a larger home, buy for the first time, or sell/purchase an investment property. I love making it an enjoyable experience for them,” he says. He also enjoys the fact that every day is different, that he never gets bored, and there is always something new to learn. In his free time, Carlos enjoys spending time and traveling with his wife and their two young children, playing golf, and seeing friends. For the future, he plans to grow a team with multiple agents while maintaining boutique service that caters to his clients’ needs and helps them to achieve their hopes and dreams.

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