The Psychology Edge in Kenai Real Estate

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When you choose the Kenai real estate agent who will be your
home-marketing partner, you are choosing someone who will need to fill many
roles: marketer, stager, tour guide, negotiator.  And don’t leave out another role —
psychology major!

 

To build our
kind of successful track record, a real estate agent needs to study and
understand the way prospective buyers think about their search for a future
home, how they are likely to react to different forms of presentation, and what
builds or detracts from the value they assign to your property. It’s
psychology, all right — and it’s usually an integral part of any sales or
marketing success.

 

A good
example of how psychology can affect a real estate transaction comes from a
study done at the University of Texas. There they have a Real Estate Finance
and Development Program. A couple of years back, they began conducting some
psychological studies, and one of them used sophisticated statistical tools and
a huge sample of real estate transactions.

 

What’s fascinating is what they discovered
about using the word “new.” Real estate agents who marketed homes with phrases
like “new paint,” “new carpets,” and “new roof” wound up selling them for
slightly less than those who did not!

 

The study’s
explanation is that, for homes that are not brand new, touting “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.

 

A more
effective strategy is one that I frequently favor: under-promise and
overdeliver. 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 Kenai home.

 

As a leading
real estate agent on the Kenai Peninsula,  I am constantly reminded of how important it
is to never stop learning. If you are considering selling your home and are
looking for cutting-edge marketing and advice, I hope you’ll contact me for a
complimentary consultation.

Real Estate Websites by Cherie Young