Halo Effect in Real estate?

Real estate is an industry where the quality matters along with the quantity and sometimes other “minute” relevant factors too. Halo effect is an old term but catching fire nowadays in the real estate industry of the west and other successful countries (and India is not a part of this race). According to a recent survey done by researchers of University of NSW (Australia) where they came to the conclusion that good looking real estate agents are able to get 2.3 percent more for their client’s property as compared to its actual price and as compared to the average looking agents. It is such disheartening news for those agents who don’t possess good looks or attractive personality.

They will do their core job by selling you the house but will definitely steal your heart in the deal. The research shows that a good looking agent easily makes a noticeable difference in the price of property which eventually adds up to 23 grand’s profit. The saying “sex sells” perfectly fits in this situation especially when the agent is female who carries herself with appreciable personality. With the help of Pulchronomics (a study of economics of Physical attractiveness), the team of researchers analyzed a number of photographs of handsome and beautiful male and female real estate agents, who possess not only good looks but commendable selling skills too, and compared the same with the prices which they achieved in their high-end properties’ sale.

The halo effect is a term used to describe the biasness shown in the favor of good-looking people, and the impact of their looks on the buying and selling of the brand with which they associated. Many real estate agents who are aware about their halo effect don’t hesitate to put their looks forward than their proposition.

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About The Author

Suraj Yadav

Journalist at Realty Bytes. Keeps a close eye on real estate market/industry. Opinions on the latest trends on the real estate market.

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