ONTARIO, Canada – March 3, 2011 – A study by the University of Guelph in Ontario analyzed the wording of more than 20,000 home listings and determined that specific phrases can impact price and the time a listing spends on the market.
Homes sold for an average of 5 percent more when described as “beautiful” rather than as in “move-in condition,” for example, and homes moved off the market faster when their ads indicated “curb appeal” rather than describing “value” and “price.” Experts say ads that mention foreclosures, short sales, REOs, bankruptcy and auction do not attract buyers in all neighborhoods.
“It’s important to help a seller elaborate on their home’s assets with details and to give the buyer a visual,” says Catherine Lindstadt of Prudential Douglas Elliman Real Estate in Huntington, N.Y., who uses “open floor plan” instead of “spacious” and calls homes with older features “lovingly maintained.”
Vicky Reynolds of Norma Reynolds Sotheby’s International Realty in Westhampton says, “A good Realtor will create a little romance in an ad because every home has it.”
Meanwhile, a study by the University of Texas at San Antonio reveals that agent “comments” or “remarks” on the MLS that provide additional property information can boost sales prices.
Source: New York Newsday (02/24/11) Aharoni, Gigi Berman
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