When you're selling your home, one of the most important things you can do is create an effective advertisement. Your goal is to reach as many potential buyers as possible and generate interest in your property. But did you know that there are specific requirements for what information must be included in a real estate listing? Keep reading to learn more.
When you're ready to list your home for sale, there are a few key pieces of information that you'll need to include in your advertising. By law, real estate listings must consist of certain disclosures and disclaimers in order to be considered legal. This blog post will give you a rundown of what information needs to be included in your real estate listing.
1. The Property's Legal Description
The legal description is a brief statement that identifies the property's boundaries. This description can be taken from the property's deed or title insurance policy. The legal description should be included in all real estate ads, regardless of the medium (print, online, etc.).
2. The Property's Address
The address is another required piece of information for all real estate ads. In addition to the street address, you should also include the city and state where the property is located. If you have a photo of the property in your ad, the address should be superimposed on the photo so that it's easily visible.
3. The Sales Price
Including the sales price in your ad is optional, but it's generally a good idea to do so. If you choose not to list a sales price, you can still include other pricing-related information, such as "starting at $XXX," "prices starting in the low $XXs," etc. Remember that if you choose to list a range or starting price point, you must include an asterisk next to that information with a disclaimer stating that the actual sales price has yet to be determined.
4. A Disclosure Regarding Agency Relationships
You'll need to disclose that relationship in your ad if you're working with a real estate agent or broker. This disclosure should state whether you're working with a buyer's agent, seller's agent, or a dual agent. Dual agency occurs when one agent represents both the buyer and seller in a transaction—something that is allowed in some states but not others.
5. A Disclaimer Regarding Square Footage
Suppose you choose to list the square footage of your property in your ad (and we recommend that you do). In that case, you must also include a disclaimer stating that the square footage has not been independently verified and may differ from actual measurements. This disclaimer protects you from any potential legal action that could arise if it's later discovered that your listed square footage was inaccurate.
6 . A Disclaimer Regarding School Districts
If your property is located within a certain school district boundary, mention that fact in your ad (especially if it's a highly sought-after school district). However, before doing so, you'll need to include a disclaimer stating that school district lines are subject to change and that prospective buyer should verify enrollment with the school district itself.
Conclusion:
As you can see, there's a lot of information that needs to be included in your real estate listing. However, by including all of this information, you're helping buyers make an informed decision about whether or not your home is right for them—and that's good for everyone involved!
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