BIC TIP #1223: Do You Measure Up?
Do you measure up? In real estate, at least? In this BIC TIP, Stephen Long takes on square footage, one of the most common sources of trouble for listing and buyer agents alike. His message is clear: the tax card is not an accurate source, builder blueprints are not an accurate source, and brokers should be following the North Carolina Real Estate Commission’s residential measuring guidelines.
Stop Leaning on the Tax Card
It is tempting to pull the square footage off the tax record and call it a day. It is fast, it looks official, and it is frequently wrong. Tax records may use different methods, may be out of date, or may not reflect additions and changes to the home.
New construction blueprints have the same problem. Plans are not the finished house, and they may measure things differently than the guidelines require.
The Commission Has Leaned In
Stephen notes that the NC REC has very much leaned into the expectation that brokers follow the residential square footage guidelines when measuring residential real estate. That means reading the guidelines, understanding them, and applying them.
Either you measure the home yourself or you use someone you have designated to measure for you. Either way, you are responsible for reporting an accurate figure.
Accuracy and the Variance
The goal is to report an accurate gross living area. Stephen explains that brokers get some room for error, which he describes as a 5% variance from the actual square footage. That is a cushion for honest measurement differences, not a license to guess.
If you are unsure how the variance applies to a particular property, check with your broker-in-charge.
Buyer Agents, This Is Yours Too
Measuring is not only a listing agent job. If you are representing a buyer and the represented square footage looks grossly off, do your own due diligence. Your buyer is relying on that number to judge value, and an appraisal surprise is no fun for anyone.
The Practical Takeaway
Read and follow the NC residential square footage guidelines. Do not rely on tax cards or builder blueprints. Measure it yourself or have a qualified designee do it, and if you are on the buyer side and the numbers look wrong, dig in. Accurate measurements protect your clients and your license.
