Psychology of Home Sales

We now know the best way to sell homes, thanks to this article. (Hat Tip to Judy Karofsky at the Coalition of Wisconsin Aging Groups for sharing this.)

Apparently if you're selling your home, have neutral colors (no pink rooms!), don't list recent repairs or improvements (which makes people wonder what else needs to be fixed), and most of all, have an attractive female agent.

In brief, the study found that the more attractive a male buyer found the female agent, the higher the price he was willing to pay for the house. Women buyers also responded positively to attractive female agents, though not as much as men, the study said.

The closing lines made me laugh:

Interestingly, the study also found that neither men nor women responded much to attractive male agents. Apparently nobody trusts them.

Is it logical?  No.  The agent isn't going to be there after you buy the home.  But it's the same logic the pharmaceutical industry have been criticized for using in marketing drugs to doctors.

So now you know how to get the best price for your home!  And better yet, how to find a hidden gem in your next home purchase by being aware of the psychology of home sales to figure out what homes are marketed badly & low-balling the offer.