The Last Refuge of a Scoundrel Desperate Listing Agent
When you see a Realtor trumpeting a home’s price per square foot, you can surmise which of the following?
A. The home’s a bargain;
B. It lacks emotional appeal;
C. It’s big;
D. The agent is desperate, inexperienced — or both.
Correct answer: “B.” (the others are all “Maybe’s”).
What does it mean when a listing agent (representing the Seller) resorts to an intellectual/rational appeal to sell a product that is unfailingly bought emotionally?
“That’s all they got.”
Brain vs. Heart
Unlike commercial space, which is leased/sold by the square foot (and Class), residential space varies dramatically.
So, it’s conceivable for one home on a block to sell for $150 a square foot, while its neighbor a few doors away sells for 50% more.
Or 50% less.
Result: there’s not necessarily a meaningful range to price off of.*
Instead, the smarter sales strategy is to tout a home’s beauty, allure, prestige, etc.
If you can . . .
*Many home Sellers who use Zillow, Trulia, etc. to value their home neglect to note that these “services” quote an extremely wide range, e.g., “$500k plus or minus $150k” — with a low confidence level, to boot.