How does someone choose the home they buy over the 50 other homes they looked at?
I truly want you to know it really isn’t the size (square feet) or number of bedrooms or number of bathrooms that determines how a buyer chooses a home to make their own. Yes, appraisers think that is why, and yes many brokers think that is why, and most videographers shoot every room in the entire house under this premise, but it’s not true, and let me prove that to you right now.
We used a pretty complicated mathematical model called multiple-regression that solves for how the various physical elements of your home affect value. Multiple-regression runs a series of tests and calculations to see how each element, say square feet, correlates—or matches up to the end sale price of a home (value). In other words it tests the theory: do more bedrooms equal more value, or does greater square feet mean greater value.
You can quickly scan through this Multiple Regression Analysis of the eight major physical elements many people mistakenly think create the value of a home (square feet, number of bedrooms, number of bathrooms, age, lot size, garage spaces, basement size and basement finish). If these physical elements completely explained or correlated to value we would see a lot of consistency in their contribution to value. But very quickly you can see very erratic weights (correlations to value) among these elements. While these eight physical elements sometimes correlate to value, which ones do and how much they contribute are all over the chart.
I know, you came to this site looking for a good video to help you sell your home, not become a statistician. But don’t you feel better by knowing more about home values than pretty much anyone else as of right now? Please remember, Fierce Marketing© is a true marketing company—not a photographer. We dig to understand what the market desires, what they’ll pay to obtain their desires, and how we can offer what they desire visually to them. This may be quite different than what you are used to.
People choose a home based on the emotional benefits derived from visualizing future life events as triggered by key qualities of your home. The emotional benefits the market desires as triggered by key qualities of your home explains the difference in value prediction. These emotional qualities are what Fierce Marketing© discovers during our analysis of your neighborhood; and these emotional qualities are what fill our videos. This in turn creates demand for your home and maximizes its value.