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The Power of Contrasts

When touring properties, I've often experienced showing 5 rather dull properties to a buyer, followed by one that is appealing on many levels, even if it's not perfect. Often, the only way buyers can see what I see as a professional doing this all day, every day, is by visiting the other properties to see the contrast and understand the value of this property over the others.

 

Before and After pictures are extremely powerful marketing messages. Often the uglier the 'before', the more effective the 'after' photo. The same applies to showing a property on a dark, dreary grey day when I encourage my buyers to go back for a second look on a clear day as it may make all the difference in how they view the property.

 

Contrasts are also very important to sellers, developers and landlords as it relates to pricing and valuation. Do they really know how their property compares to others? If after seeing the other properties they are competing with it's determined that theirs is superior, then yes, they will be in a position to command a premium. Often this exercise serves to showcase that what they are selling is not that vastly superior to command the premium they envision and seeing is believing. Maybe their property requires staging/repairs/upgrades/renovation to even compete price-wise, let alone beat.

 

Contrasting figures matter too. Selling a $1 million property for a 10% discount involves less dollars than selling one for $3 million at a 10% discount, often a good reason to upgrade in a down market.

 

Contrasts are important in life lessons too. Those days when we are sick remind us to be grateful for the days when we are not. Being on vacation all year round could never deliver the satisfaction of a 10-day escape that delivers a very different experience to the other 350-plus days per year you are not on vacation. A lost night of good sleep allows the contrast of a good night's deep sleep to be truly appreciated.

 

Sometimes contrasts are exaggerated. Most times they are extremely effective in messaging, communicating and generating headlines, good or bad. They also help us appreciate lots of stuff but in particular, understanding when a property is priced correctly when compared with the competition.

 

 

 

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Ken interprets market data, staying in constant communication and offering valuable insight that then translates into an informed decision.

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