When you’re ready to choose the local real estate agent, you are choosing someone who must fill a variety of roles: marketer, stager, tour guide, negotiator. And don’t leave out another role — psychology major!
To build – and maintain – our kind of successful track record, a great real estate agent needs to understand the way prospective buyers think about their search for a home, how they may react to presentation forms, and what builds – or detracts – from the value they assign to your property. It’s psychology, all right — and it’s usually a vital part of any sales or marketing success.
There was a very revealing study conducted at the University of Texas that looked at how psychology can affect a real estate transaction. A couple of years ago, they began conducting psychological studies, with one of them using statistical tools and a huge sample of real estate transactions. What was interesting is what they discovered about using the word “new”. Agents who marketed homes with phrases like “new paint,” new carpets,” wound up selling them for slightly less than those who did not?!
Their explanation for this was that with homes that aren’t brand new, highlighting “all new” features seems to call attention to the fact that the items mentioned needed to be replaced. It unnecessarily opened the door to suspicions about what went wrong that made replacement necessary.
I favor the tactic that under-promises and over-delivers. So, rather than trying to convince buyers how “new” an older home is, do the renewal work, but don’t brag about it. Then when potential buyers walk into the home, they will be impressed by the new carpets and fresh paint. It’s the approach that uber-successful Zappos company founder Tony Hsieh calls “surprise and delight.” What is effective for leading a company and retaining customers can also be psychologically effective for selling a local home.
I am constantly reminded of how important it is to never stop learning. If you are considering selling your home and are looking for marketing success with a psychological-edge, I hope you’ll contact me for a complimentary consultation!
Warm Regards, Lauren Bianco, Realtor
Helping you Find your way Home!