The first rule of real estate is location but the first rule of real estate advertising might be locution. According to a Canadian study completed last year, the words used to describe a home in advertising may be worth money in the bank and can affect the time it takes for properties to sell.
Professor Paul Anglin of the University of Guelph studied 20,000 homes that sold over a four year period in Windsor, Ontario. Anglin found that when REALTORS® described homes as “beautiful” or “gorgeous,” they sold 15 percent faster and for as much as five percent more than a comparable home without those descriptors. Houses described as being “as-is” or as a “must see” took longer to sell and sold for less money in the end. Words like fresh paint, quiet or clean had little or no effect because they suggest that there is nothing remarkable about the house.
I firmly believe that truth in advertising is essential and calling a home beautiful when it is not, is simply bad practice and unethical too. Finding ways to accentuate the features of a home or property though, is good business as it helps buyers to visualize a home that they might want to live in. For example, would you rather have a “house with a dining room” or a home with a beautiful big dining room suitable for family gatherings?
Have a look at the chart (you can click to enlarge it) to see what Professor Anglin found. Some other words that had positive effects on selling time and/or sale price were:
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg