Tricky Lot Listing – Will It Work?
Okay, this is in the pet peeve category…. we’ve seen some weird stuff in MLS listings, usually just people who don’t know any better, but this was intentional—technically legal, but misleading by design. It is the bozos like this guy that give our profession a bad name.
Here’s the trick.
While researching waterfront property vacant land, we ran across one that was listed at $250,000. Hmmmm. That’s way below market, and yep, it got our attention. And it is in fact a waterfront lot, but it is being sold only in conjunction with an adjoining lot listed at the same price… in order to sell a build-able double lot. So the real asking price is $500,000.
(We wrote earlier about Cape Coral lot sizes: they are build-able only when you have a double lot: two 40×120 lots. It’s understood by all that if you use the singular term “vacant lot” that you mean a build-able double lot, or larger.)
So will this play on words and historical nuance work? We can say right now we hope never to do business with that person. If he believes deception is a sales strategy… what else is up his sleeve? We also feel empathy for the seller… does he/she know about the deception and the likely harm it’s doing to the prospect of getting it sold?