Portland Metro/Tigard Real Estate News

In this forum we will offer discussions on a wide variety of subjects, but focus on Portland Metro and real estate. Hopefully our insights and experiences will inform, educate, challenge and entertain our readers week after week.

Wednesday, January 31, 2007

Ad words can help or hinder the selling process

Just read a great article on the Sellsius real estate blog regarding the use of ad words and their effectiveness. Certain ad words sell real estate faster, while others can cost you time and money.

Looks like we need to rewrite some the descriptions for our listings.

Bottom Line: Emphasize beauty and extravagance rather than value and price.

Good Ad Words: Sell Faster, Get higher price

  • Curb Appeal
  • Landscaping- 20% faster
  • Gourmet
  • Handyman’s special
  • Beautiful & gorgeous- 15% faster
  • Golf - 5.6-7% higher price
  • Lake- 7% higher price but 8.9% longer to sell
  • Updated- 2.7% faster, 5% higher price
  • Move-in condition
  • Starter home

Bad Ad Words–Longer to Sell, lower price

Rental- 60% longer to sell
Motivated- 15% longer (prior study showed 8% longer)
Good value
Foreclosure 16% lower price but no effect on sell time

Neutral- Little effect, possibly negative on price/time

New Paint
New Carpet
Roof work & other property improvements
Vacant (4% lower price)

Original Sources: Very interesting reading
Real Estate Agent’s Remarks: Help or Hype? [pdf] Haag, Rutherford & Thomson (Univ. of Texas) Study of 58,000 closed transactions between 1994-1997
The Selling Process, If at first you don’t succeed…Prof. Paul M.Anglin (Univ. of Windsor, Canada) Study of 20,000 listings from Essex and Windsor County MLS 1997-2000
Prof. Paul M. Anglin’s Other Working Papers.

H/T: Redfin Blog. (via LA Times)

1 comment:

Real estate for sale ads said...

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