Posts Tagged ‘ selling a home ’

Marketing & Selling a Home with a “Diamond-Water Paradox” Mentality

The “Diamond-Water Paradox” is a basic, fundamental economic theory: Water is essential to life; diamonds aren’t, but because there is so much water available, consumers place much greater value on a diamond to a drop of water.

The same paradox can be applied to selling a home.diamond-home-marketability

When potential home buyers view homes these days they’re looking for that diamond (or, a “diamond in the ruff” to be exact).  And, just like diamonds with their detailed system of clarity (FL, VSI, SI, I, etc.), a home’s marketability may be characterized by three important details: Price (P)/Condition (C)/Location (L).

  • Above average landscaping & curb appeal (+C)
  • Kitchens and bathrooms that have been remodeled with the latest and greatest (+C)
  • Freshly painted rooms in neutral tones (+C)
  • A home that is clean and spotless (+C)
  • A home situated right next to a factory (-L)
  • Orange shag carpeting (-C)
  • A home’s price that is at the top-end of the market for similar homes in a given area (–P)
  • A home that has easy access to major highway and is also located in a community with very little noise & traffic (+L)
  • A home that’s priced at or slightly below market conditions (+P)
  • A home located in an area of superior job growth and stability (+L), etc, etc… Continue reading this post
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Posted by: John Badalamenti on March 8th, 2010 under Motivation

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