Summer 2000, Vol 25, No 2
Abstract: The perceived quality of property influences its pricing, marketability, and value. Confirming and communicating quality are crucial to real estate transactions. Subsequent shortfalls of actual quality relative to representations of quality in such communications can impose significant liability for both those who build and sell properties and also for those who provide professional services to transactions. Understanding consumers’ expectations of housing quality can both increase the prospects of positive property performance and also aid a developer in building a brand name and strong market identity. Concurrently, understanding the role of quality in property transactions is crucial to mitigating litigation risk. This manuscript explores the role of quality in the context of housing decisions.