Question

A buyer's broker is showing a house listed in the MLS at 2,000 square feet, but the broker believes it is no more than 1,500 square feet. What should the broker do?

1) The broker should not argue with the listing broker
2) The broker is responsible for reporting obvious mis-measurements
3) The broker should measure it himself
4) The broker should do nothing

Answer 1

A buyer's broker suspecting a discrepancy in the listed square footage should verify the information against public records, measure the property themselves or with a professional, and communicate their findings to the listing broker.

Step-by-step explanation:

When a buyer's broker discovers a potential discrepancy in the square footage of a property listed in the MLS (Multiple Listing Service), they should address the issue with due diligence. According to best practices, the broker should:

1. Verify the information: The broker can cross-check the square footage with public records or previous listings to see if there is a consistent mismatch.
2. Measure the property: If the broker has significant reasons to believe there is a discrepancy, they can take measurements themselves or hire a professional to confirm the accurate size of the house.
3. Communicate with the listing broker: It's essential to communicate any findings with the listing broker to address the discrepancy. This could lead to a correction in the MLS listing and ensure ethical standards are maintained.

It is the responsibility of the broker to report any obvious mis-measurements to maintain the integrity of the transaction and protect the interests of their client. Simply doing nothing or not discussing the concerns with the listing broker could lead to ethical issues and potentially harm the buyer's interests.