How First Impressions Can Make or Break a Sale
A 2013 Bank of Montreal study found that 80% of potential buyers know immediately upon entry if a home is suited to them. The psychology behind first impressions for objects and places is a topic with little research behind it, but it is something that has come up often in the real estate industry.
Toronto real estate agent Ralph Fox shares insight about first impressions of homebuyers. “The number one thing I’ve learned in sales is that people buy on emotion and justify with logic afterward. That’s why when it comes to making first impressions with sales, it’s very important to have that emotional connection with a space. If someone disconnects with a space right off the bat, they’re going to have a tough time getting their emotions around it after the fact,” said Fox.
This raises the question: how important is it to stage a home for sale? Julie Dana is an interior designer and wrote “The Complete Idiot’s Guide to Staging Your Home to Sell”. She says people often underestimate the power of home staging; a properly staged space appeals to many different buyers. This might simply mean decluttering the space so buyers can see architectural features or removing family photographs so they can envision their own families there.
The Real Estate Staging Association (RESA) released statistics in 2013 suggesting the influence of sales that staging has. In the study, 63 unstaged homes averaged 143 days on the market. The same houses were staged, and the average selling time decreased to only 40 days.
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