To this end, University of Guelph professor Paul Anglin has produced a study of the sale of 20,000 Ontario homes and how the language of their listings affected both sale price and speed of sale.
Anglin and his colleagues from the University of Windsor and researchers from Canada Mortgage and Housing examined listings and sales data in Windsor and Essex counties, between 1997 and early 2000. Among other things, they studied how listings' phrasing affected sale prices and the length of time it took for the listings to close.
The study merited the following analysis of the efficacy of words:
Source: “House Prices and Time-till-sale in Windsor,” Professor Paul Anglin, University of Guelph, Ontario.
*The study examined roughly 20,000 listings in Windsor and Essex counties, Ontario, from between 1997 and early 2000. The effects shown are averages; wide variations appeared within categories.
Size matters
Home size, too, is another important factor. The smaller the property, the quicker the sale. One-bathroom homes sold 13% faster. Homes with three bathrooms took 50% longer to sell. Homes with two stories or more took 20% longer than the average home sale. Smaller homes usually cost less, and as such, there is more competition in the lower price ranges.
The Big Picture
While it is easy to conclude that the right words will, by themselves, make all the difference in how quickly and for how much a home is sold, it is rather a combination of the language used and the list price that will determine the factors affecting the sale.
Honesty is an important consideration in finding the right balance, but, as Anglin notes, “The single most important message that a seller can send to a buyer is their choice of list price”.
Therefore, this study does not tout a triumph of style over substance, but rather how certain words, when used accurately, can boost a listing's power.
