In their best-selling book, “Freakonomics,” authors Steven D. Levitt and Stephen J. Dubner discuss residential real estate agents’ selling techniques.
It turns out that when real estate ads use vague adjectives and descriptions, the homes sell for less. When real estate ads are specific, the homes sell for more because they have more intrinsic value.
Where have I recently been hearing vague adjectives and lack of specificity regarding real estate?
On the Cargill/DMB proposed Saltworks project in the Bay. They have no pictures of actual housing units, no specifics on square footage or price. And DMB representatives even concede that no one really knows yet how the project will look so it is premature to comment. Is Cargill/DMB’s vagueness cause for concern? Should Peninsula residents trust these tactics?
Kaia Eakin, Redwood City
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