I was way ahead of the hotness curve on this one. Back in 2/11 we revealed studies that indicated that Good Looking Agents Sell More Homes and now the industry is playing catch up. I was moved by the article titled " I Wasn't Going To Buy This House Until I Saw The Realtor's Headshot On The Sign" and after reviewing that, I knew this was a topic that we had to comment upon.
And now the rest of the pack finally gets wise to what we already know....as reported by Business Insider:
A recent study in Applied Financial Economics explores the relationship between how beautiful an agent is and how quickly he/she sells a property and for what price.
Thankfully, the econ blog Big Think broke down the hellishly scholastic-sounding "Broker beauty and boon: a study of physical attractiveness and its effect on real estate brokersâ€™ income and productivityâ€ into comprehensible language, and turns out the research contains a few interesting quasi-facts.
Of course, the points below are either believable or guffaw-able, depending on, say, personal experience, price point, and geographic market. Have an opinion of your own? Leave it in the comments. Here goes:
1 Male agents (representing both buyer and seller) tend to rep houses with lower prices.
2 Beautiful agents tend to yield higher closing prices.
3 Good news for those trying to sell your home: "the effect on house prices of having an attractive listing agent is about twice as large as that of an attractive selling agent."
4 Just because your selling agent is attractive doesn't mean that your property will sell faster; in fact, it's quite the opposite. You might learn to be patient and soak up all that extra time spent in the presence of hotness.
5 In terms of commissions, pretty agents tend to sell at higher price points but sell fewer properties than their, ah, uglier colleagues.
Racial bonus round: "The study also finds that non-white listing agents are associated with lower final prices and both non-white listing agents and selling agents are associated with longer times on the market."
I'm deeply involved in researching other theories -
1. What goes up must come down
2. It's not what you know, it's who you know
3. It's a man's world