A seller in East Riding, Yorkshire, UK included a panda as a tour guide for their home video and got some press coverage.
But what did it get the seller? Lots of views . . . which sets the estate agent apart as creative. Good job, Quick and Clarke. (Honestly.) However, this international exposure doesn’t translate to a higher sales price and a faster sale.
ಠ_ಠ Gimmicks Need to Make Money
As real estate data is increasingly democratized and big data and machine learning improve search and valuation, the room for gimmicks will become increasingly reliant upon meeting consumers’ demands. Real estate is becoming a commodity. Sales advice like “upgrade your kitchen and bathroom” is increasingly generic.
Big Data and Statistics Can Help
We are reaching the point that the advice should be specific and quantitative; “Designing your kitchen using these types of features will give you a 95% chance of increasingly your sales price by $10,000.” The seller can then get estimates to make the changes and determine if the return is worth the time and money.
A Sales Opportunity
Think about this from a renovation company’s point of view. With the same functionality, they can automatically approach residential sellers with ROI estimates. This will give them a chance to price based on value or on cost, choosing the strategy that gives them the most profit.
That is a worthwhile gimmick.
Update: InB4 developers can use the same information when planning their highest and best use.
Do you see anything like this in your niche? What would you add?