The only way to keep up with the latest about real estate investing is to constantly stay on the lookout for new information. If you read everything you find about real estate investing, it won't take long for you to become an influential authority.
It seems like new information is discovered about something every day. And the topic of real estate investing is no exception. Keep reading to get more fresh news about real estate investing.
Selling a house? What single word in your ad can add thousands of dollars to the selling price? Do you know which words work best? Do you know that some commonly used real estate ad words can backfire and harm your sale opportunities?
There are a lot of standard phrases used in real estate ads. Just because you see a phrase used a lot doesn't make it a winner. Some of those common phrases, like "motivated seller" can work against you!
Are you a FSBO? That translates to "For Sale By Owner", pronounced "fizz-bo". Do you use a real estate agent? Either way, you need to pay attention to how your home is marketed. The words chosen for your ad and flyer's can lure in prospects or can turn them off!
A real estate agent's experience cam be valuable in marketing your house. But how about adding a little scientific research?
Paul Anglin, a professor at the University of Guelph in Ontario Canada is also a real estate economist. Professor Anglin led a study in two counties in Ontario to study the affect of real estate ad phrasing on sales price and time on market. The results showed that some common words had a demonstrably positive affect on selling price, and shortening the time to sell. The surprise, to me, was that some commonly used words can get in the way and cost you money!
What's the magic word?
One of the words that can put more money in your pocket is "beautiful". The study showed that using the word beautiful scored an additional 5% in the resulting sales price. That works out to $15,000 on a $300,000 house. I don't know about you, but my house is beautiful!
What are some of the other words that scored positively and negatively in the study?
Words that sell:
Some words strike a positive note with today's buyer. Here are some words that have shown a positive effect:
??? * Curb appeal
* Move-in condition
* Landscaping
* Granite
* Gourmet
* Golf
* must see
Words that can fail:
Some good sounding words can double-cross you! Here are some commonly used ad words and how they can be misinterpreted:
??? * Motivated seller - loosely translated as "I'll take less money so low ball your bid"
* Good Value - loosely translated as "It may not be much, but it's a bargain."
* As-is - loosely translated as "It's a mess and we can't do anything with it, are you dumb enough to try?"
Other words and phrases that can work against you:
??? * must sell
* good value
* starter home
* vacant
* handyman special
* motivated
A note of caution:
It should go with out saying that the words you use must be honest choices. If it's a dump, then the word "beautiful" will get a snicker, not a sale. If you use "curb appeal" then the house better look good as the prospect drives up and gets their second impression. You ad is their first impression; and it should be as good as you can make it!
Now might be a good time to write down the main points covered above. The act of putting it down on paper will help you remember what's important about real estate investing.
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