The reality of “Price per Square Foot”…
- It has become common lingo among many agents, title reps, and marketing firms.
- The stat itself, does not tell the whole story of the property value
- It easily becomes a “debatable” statistic that prevents a great “selling conversation”
- Typically, agents who are not skilled in pricing have a greater tendency to use this formula.
Where Price per Square Foot is great:
- Construction purposes
- Commercial real estate, where emotion is less influential
- The words “price per square foot” does not mean the same as “value”