Wednesday 26 October 2016

Attractive estate agents add 2.2pc to your property’s sale price

Published 12/06/2015 | 15:34

A handsome estate agent could have you paying up to 2.2pc more for your house.
A handsome estate agent could have you paying up to 2.2pc more for your house.

Hiring a good looking estate agent could boost the sale price of your property, new research has found.

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Researchers have found that male and female estate agents who are pleasing to the eye boost the sale price by up to 2.2pc, which equates to €13,000 when the average house price is considered.

The study, which was conducted by researchers in the University of New South Wales in Australia, contributed the results to the ‘halo effect’ which bases itself on the theory that many of us are influenced by attractive people.

Business School lecturer Robert Tumarkin said: "Attractive real estate agents do achieve substantial premiums.

"Our research shows that the degree of their attractiveness influences the price they receive from buyers."

“If I overpay for a DVD I can live with that, but if I get overcharged €50,000 on a house I’m going to be upset,” he said.

Researchers analysed photographs of individual estate agents and compared them to sale price of the properties that they sold.

Over all, it was discovered that people pay more for homes and property if the estate agent is attractive to them.

Co-researcher Joakim Bang said: "It's known as the 'halo effect' and it's where a person's overall impression of something affects their evaluation of its individual aspects."

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