What’s love got to do with property listings? Nothing¬†when it comes to luxury home descriptions, according to a recent Wall Street Journal article. Citing¬†data analyzed¬†by realtor.com,¬†writer Stefanos Chen reported that listings by real estate agents that included “love” or “loving” in the property descriptions are often priced lower than those using more provocative terms such as¬†“sexy” and “seductive.”
According to¬†“In Real-Estate, ‘Love’ Hurts and ‘Sexy’ Sells,” realtor.com used listings as of¬†Feb. 1 and looked for terms of endearment used by real estate agents when listing properties. It then¬†calculated the median asking price of homes described with affectionate¬†words. The results¬†of listings with the word ‚Äúromance‚ÄĚ had a median asking price of $820,000, “seductive‚ÄĚ homes listed for a median $640,000, and ‚Äúsexy‚ÄĚ properties had a $620,000 median price, Chen reported.
Although love and its variations appeared in one¬†out of 10 of all listings, they¬†were most common at the low-end of ¬†home prices, according to the data.
“Homes with ‚Äúlovely‚ÄĚ and ‚Äúlove‚ÄĚ listed for $264,000 and $250,000, respectively,” Chen wrote. “At the bottom were homes with ‚Äúloving‚ÄĚ descriptions, with a $195,000 median asking price.” The median price of all U.S. listings was $229,000, according to realtor.com data.
‚ÄúLove is basic,‚ÄĚ Javier Vivas, an economic researcher for realtor.com, said in the article. ‚ÄúIt‚Äôs a pre-canned pitch to generically describe something beautiful.‚ÄĚ
On the other hand, describing a home as ‚Äúa modern romance‚ÄĚ with ‚Äúluscious views and seductive spaces” denotes something more, according to¬†marketing manager Chelsea Brown¬†of¬†the Debbie Reed team at Re/Max Realty in Delaware, which listed a¬†home for $2.5 million using those exact terms.
‚ÄúThe type of verbiage definitely changes a little bit once you get to that price point,‚ÄĚ she said in the article. ¬†Contrarily, Brown¬†said she thinks of¬†words like ‚Äúlove‚ÄĚ to be in the same category¬†as ‚Äúcharming‚ÄĚ and ‚Äúquaint‚ÄĚ and¬†are generally¬†reserved for less pricey¬†homes.