Albert Einstein is credited with saying the definition of insanity is doing the same thing over again while expecting different results! Who likes doing that?
What that will mean to you is to encourage you to keep an open mind and try new or different ways of doing the same thing to get a different result! Like attracting and retaining clients!
Try things again that you may have thought have lost their sell buy appeal! Like staging; some agents have formed a false opinion regarding the impact a great stager will have on property. It truly is a magic marketing potion.
I find Real estate professionals in general always work to be a step ahead of their competition, in the quest for securing clients. Understanding the demographics of the client is crucial to help you with your marketing strategies. I bet you know the gender, geographic location, even marital status of the people you represent. Do you know there’s a new component which really helps you understand your client even more? It is called psychographics; and you need to really get a handle on them to truly understand who is buying what and why! What’s their lifestyle like? What are their daily habits or hobbies? What kind of values and opinions do they have?
Proudly, CSP International™ has not only been teaching psychographics to students for many years, but also teaching how it impacts the sale of property. CSP graduates know how to target the lifestyle of the buyer who is most likely to purchase the property you represent! What that means to you is that you are more likely than not to sell your listings faster than your competition, while maximizing your marketing dollars and the ROI for the seller.
Here are a few psychographic facts which impact real estate sales from the NAHB survey:
- Buyers focus on quality and appearance when looking at most home components (flooring, doors, kitchen countertops and cabinets, carpeting etc.). When looking for appliances, however, the focus is on quality and brand name.
- Three out of 16 bathroom features stand out as desirable/essential to more than 80% of buyers – an exhaust fan, a linen closet, both a shower stall and a tub in the master bath.
- Rain gardens make properties more marketable and can reduce flood insurance rates in some areas.
- Great outdoor lighting consistently tops the list of most wanted outdoor features : 41% rate it “essential;” 49% say its “desirable.
- In the kitchen, a walk-in pantry, table space for eating, and a double sink are considered essential/desirable by 84% or more of all buyers.
- 50 percent would like to have a wireless home security system, and 40% would like security cameras.
- Faced with the alternative of one master suite plus three standard bedrooms or two master suites plus one standard bedroom, 70% choose the former. Meanwhile, 68% would be willing to sacrifice space in the master bath for a larger master bedroom.
- Most home buyers want energy-saving features: 94% want energy-star rated windows (36% of them think they are essential) and 91% want an energy-star rating for the whole home (28% think this is essential).
- 73% agree that “the projected utility costs of a home would influence purchase decision;” home buyers are willing to pay an additional average of $7,095 in the up-front price of a home if that saved them $1,000 annually in utility costs.
- Home buyers see value in professional designations, as more than 70% agree that contractors with specialized designations are “more professional and credible,” “provide better quality work and craftsmanship,” “provide better service levels,” and are “more reliable”.
What it means to you ultimately is that it is a wise business decision to work with a stager who is top of his/her game, one who absolutely knows staging is not decorating, AND most importantly knows how to communicate the message to the seller without upset, embarrassment or hurt feelings. Being able to have the seller understand it is the best solution for the sale of property in the fastest amount of time for the highest return on investment is very important. Now more than ever real estate professionals recognize the value of working with a credentialed, insured, educated professional stager – do you?
- How to Avoid Stager Burnout - February 7, 2022
- Change Your Mind, Increase Your Business, Improve Your Life - December 12, 2019
- The Dilemma of Ethics - October 10, 2019
