Beauty is in the eye of the homebuyer. A recently released study by Old Dominion University real estate and psychology students tracked potential buyer eye movements to see what works and what doesn’t work in online real estate ads. The results of the work were fascinating, and according to ODU Professor Michael Seiler, is the first study of real estate ads that uses ocular tracking. We would be happy to share the entire study with you, but in a nutshell, it reinforced the value of a can of paint.
People who saw a bright pink room valued the home it was in for an average of $3,500 less than people who viewed the same ad without the pink room. Wow! Even if your paint is stylish, it may overwhelm a prospective buyer…and, get in the way of a positive buying decision if they don’t fancy the idea of having to re-paint rooms. The results of this study send a strong message to the seller who simply says “I’ll give an allowance for the new buyer to paint the color of their choice;” with so much inventory available, and the ease of simply clicking through to another listing if the photos are not visually appealing, it makes the case for painting in neutral colors up front especially compelling.