Ask a Wahi REALTOR®: How To Read Between the Lines of Vague Listing Descriptions

There’s an overwhelming amount of information about homes online, but it isn’t always easy to parse. Here’s how to read nondescript real estate listings with a critical eye.

By Josh Sherman | 2 minute read

For most homebuyers today, the homebuying journey begins with browsing online listings. Online listings are like a dating profile for homes. They are intended to convey important information about what to expect from a property and include photos along with a writeup. But also like dating profiles, real estate listings are crafted by Realtors to attract attention.

Dishonest Realtors are statistically rare. In fact, according to the Real Estate Council of Ontario, the real estate regulator in Canada’s most populous province, Realtors are barred from providing deceiving, false, or misleading statements. However, sometimes listings can be opaque, whether intentionally or not. This is potentially one of the red flags to look for in listings — after all, a lie by omission is still a lie. By the same token, a vague listing doesn’t necessarily mean anything is amiss.

In the latest edition of Ask a Wahi Realtor, we coach homebuyers on how to read between the lines of vague listing descriptions. 

1. Unrealistically low price 

You may be wondering how the list price — a specific dollar value that the seller is ostensibly hoping to attain — could contribute to the vagueness of a listing. Well, this occurs when the seller adopts the rare auction-style listing strategy of putting the home on the market for $1. In doing so, the seller vies to spark a bidding war. They’re hoping to avoid creating any pricing expectations that may limit how much the home ultimately changes hands for.

In the past, this strategy might have been more effective, as transaction records were kept under lock and key. But homebuyers today have access to unprecedented data. On the Wahi app and website, homebuyers can check how much recently sold homes transacted for in specific areas. If you’ve already enlisted the help of a Realtor, they can also provide comparable sales of homes with similar attributes.

When confronted with an unrealistically low price, homebuyers can also consult Wahi’s proprietary home value estimate tool, which boasts a 90% accuracy rate for estimated values. Every Ontario listing displayed on Wahi.com features a value estimate directly below the list price. While it isn’t perfect, it should cut through pricing strategies and provide some clarity as to what price range the home could sell within.

2. Limited visuals  

The listing presents an opportunity for the seller (and their Realtor) to showcase their home in the best light possible — and doing so has also proven to be worth the effort. For example, research from U.S. property portal Zillow found that buyers paid 2% more for properties that made a good visual impression. Many major real estate boards in Canada allow 30 to 50 (or more) photos per listing, depending on the system.

Given the importance of photos, if a listing only presents a few or provides just a vague look at the home, it is an early sign that there might be certain issues with the property. Being aware of this early on saves time and helps avoid disappointment when attending a showing later on. Here are a few things to take note of:

• Missing interior photos: Generally, if every image is of the exterior, the interior may be unphotogenic at best and uninhabitable at worst. In rare cases, the seller may value privacy highly, only making additional images available upon request.
•  Photography style and staging: Wide-angle or fisheye lenses are often used to make a small space look bigger. Strategically placed mirrors also make it difficult to eyeball the space.  

3. Unclear listing descriptions 

A typical real estate listing contains a description of about 250 to 500 words: enough to cover the essentials and highlights without turning into a novel. However, the words used are open to interpretation, and there are ways for sellers to gloss over what could be perceived shortcomings. Here’s a brief rundown of commonly used terms homebuyers may encounter in vague listings and what they really mean:

• Cozy = small
• Opportunity = needs work
• Handyman special = significant repairs
• Character = older home
• Dated = not updated
• Affordable = lower-priced relative to the market
• Unique = unconventional layout or features
• As-is = seller won’t repair defects
• Original condition = little or no updating
• Investor’s dream = likely unsuitable for many owner-occupants, especially those who aren’t particularly handy (or who don’t know somebody who is)

4. Missing information 

Real estate boards typically have mandatory fields that a Realtor must fill out. In the Greater Toronto Area, the local board mandates fields including basics such as address and property type, as well as specifics such as whether or not there’s a garage or basement. However, certain fields that aren’t mandatory may surprise you — such as age. Meanwhile, square footage is mandatory, but only a range, which could vary by hundreds of square feet. A wide range in square footage or missing age can be frustrating, but as they are not mandatory fields, the seller isn’t necessarily withholding any information intentionally. Take the absence of these details with a grain of salt.