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 brokers’ income and productivity” 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.”
· Unattractive Real Estate Agents Achieve Quicker Sales [Big Think via Jezebel]
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