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Mind your language when selling
He found that if you want to cut selling time in half (compared to the average for your area), you should have your agent advertise your property as a "handyman's special" - the downside being that you can then expect the selling price to be around 30% lower than the area average.
On the other hand, the term "beautiful" in ads reduces selling time by an average of 15%, while increasing the selling price by around 5% - provided that the advertised property really deserves the description.
Surprisingly, the term "landscaping" has the best overall effect: Selling time is reduced by 20% and selling price increased by 6%.
Chas Everitt International managing director Berry Everitt says the survey also shows that if you advertise your property as "good value", sellers will take you at your word. The description shaves 5% off the average selling time, in return for 5% off the average selling price.
Buyers also like homes in "move-in condition", which sell 12% faster, and "starter homes", which sell 9% faster.
"They don't, however, respond sympathetically to emotional appeals such as the fact that the owner is moving, and if you state you are 'motivated to sell' you can expect your property to actually stay on the market up to 30% longer than average, while the selling price drops by 8%."
According to the survey homes described as "vacant" or available for "immediate occupation" also sell at 8% less than the average and the words "rental property" add a whopping 60% to the sale time while taking 9% off the average price.
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Posted on Wednesday, September 26, 2007 (Archive on Wednesday, October 31, 2007)
Posted by hayleym Contributed by hayleym
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