Is Your Copy Hurting Your Real Estate Sale?

March 2, 2007 |

Most of the time, people speak and write without giving a tremendous amount of thought to what they are doing. As an English major in college, I learned very early on that words mean something. Depending on the context, words can even mean different or unintended things. The meaning of words is paramount in advertising and marketing copy, where space is often limited, and the purpose is to cause people to act. Real estate listings are no exception.

My interest in the meaning of words was especially piqued by an article I came across from MSN Real Estate. The article is about a recent Canadian study that attempted to measure out how certain words or phrases affect real estate listings. The accuracy of the findings may be questionable, but they are interesting nonetheless. Take a look at this chart from the article that shows what effect certain words and phrases appear to have on the sale of a property:

The right words pay off in speed and money*

Term Effect on time until sale Effect on list price Effect on selling price
Beautiful -15% +5% +5%
Move-in condition -12% Insignificant Insignificant
Good value -5% -6% -5%
Must see Insignificant +4% Insignificant
Starter home -9% -10% -10%
Vacant Insignificant -5% -8%
Rental property +60% -7% -9%
Handyman special -50% -30% -30%
Moving Insignificant -1% -1%
Motivated +30% -6% -8%
Landscaping -20% +5% +6%
Source: “House Prices and Time-till-sale in Windsor,” professor Paul Anglin, University of Guelph, Ontario*The study examined roughly 20,000 listings in Windsor and Essex counties, Ontario, from between 1997 and early 2000. The effects shown are averages; wide variations appeared within categories.

It would appear that if your listing copy contains the word “motivated,” as in “motivated seller,” it will take 30% longer to sell, and sell for 8% less money. On the other hand, simply using the word “beautiful” in the property description will help the property sell 15% faster and for 5% more money in the end.

I think there are a lot of variables that would go into a study like this one, enough that it would seem to make the results highly debatable. What cannot be denied, however, is that words most certainly have an effect on the way a property is perceived by potential buyers and their agents. The article makes that very clear.

So the million-dollar (or tens-of thousands, as the case may be) question is, have you read the copy of your listing lately, and how might it be affecting your sale?

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Posted by Daniel | Filed Under Buying, Industry Issues, News, Selling 

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