Have you ever tried to list your property for sale on the? If so, there is a chance that you will have rushed the process considerably, as you look to strike the ideal balance between optimising profitability and executing an expeditious sale. It is easy to make errors in haste, however, especially when it comes to listing your property and the words that you use to describe and market it to buyers.
The value of words is often underestimated at the best times, but this can influence the price at which you ultimately sell your home. According to new data released by Zillow (which analysed more than 24,000 home sales conducted in 2014), there are certain words that have a negative impact on the way in which your home is perceived and its ultimatein the eyes of buyers. This has much to do with the way in which individual words and phrases are applied by subjective vendors to describe their homes.
Individuals who owned a relatively low-cost home and described this as having ‘potential’ saw a 5% drop in the value of their properties on average,. These words are generally perceived as being negative in the property market, as they highlight potential deficiencies in terms of layout and value. Homes with potential are believed to require significant work, for example, while so-called bargain properties are often considered to lack quality or long-term value.
While it is easy to understand why these words can reduce the value of your home, there are others that may be more surprising. The aforementioned research revealed that homes deemed as an ‘investment’ sold for nearly 7% less than expected, for example, despite the fact that this hints at long-term profit and the potential for resale value. The issue with this is that it may deter buyers who are looking to reside in a property for a prolonged period of time, rather than one that can be resold for a profit in the near future.
This underlines the importance of words and phrasing when marketing your home, as the copy that you use can ultimately impact on the value of the property.