Very Interesting to see percentages ... any stats on "immediate closing available"  which I always translate to ... help, we've already moved and are paying 2 mortgages - can't be good for sellers.

Thanks for the info!

Karen

Toby ~ I've noticed this myself, "handy-man special" is much more effective than "fixer upper".  I think buyers identify positively with the "hand-man" because it is a way to obtain "elbow grease equity".  The "fixer" has a negative "money-pit" connotation.

That my 2 cents...

kk

This is fascinating; wonder how much of a + or - exists in results, like Harris Polls lol.  I perseonally looked at this and realized I hate the 'motivated seller' line so much I could be accused of overlooking a home that says that.  I used the words 'pretty bungalow' on a listing the other day; wonder where that phrase falls lol.  I'm off to reinvestigate your link......

I like numbers! Great post. ["Yes," he said, "avoid the word 'motivated.' "] As a beginning investor this word "motivated" used to excite me. I soon found out it usually means "Well, the wife and I have our butt in a crack. Now we owe more on this home that what it is worth but we would really like for you to buy it anyway because we can't afford the payments anymore." Good to know that landscaping increases sale time 20% faster and explains why I had so much success on my most reacent investment acquisition - My payments are $635. I am receiving $1250 in rent. The highest rent next to mine in the neighborhood is $1000 and that's a 4/2. Mine is a 3/1 but it has a "beautifully landscaped outside space". At least for that neighborhood it really does. I'll try this on my next deal again. Thanks!

Interesting post, I will have to pay more attention to the wording of the ADS, but I see your point.

Who has time to study this kind of stuff?

I hate the term "motivated seller" because my experience has been the same as Ken's.  It usually means the seller is in a bind but can't reduce price or anything to get out of the bind.  I'd rather goes for the fixer-upper because there's usually some negotiating room there!  Clients get pretty savvy about what they call "REALTOR-eze".  They know cozy means small.  They know handyman special means it's condemned, etcc.

Hey, Toby, one of my pet peeves is the "Pride of ownership" that is used quite frequently in our market. One agent uses it for about 80% of the listings. I always wonder how the agent's sellers feel who don't generate that descriptor. Guess it means they didn't have any pride.

I never use Motivated Seller ... too much a disadvantage to the seller.

Toby, a 20,000 listing sample size seems sure screams for attention. The numbers are very interesting. Certainly worth paying attention to!

Wow, these statistics are amazing.  Although, not surprising.  Appearing desperate for any sale is a sure fire way to lose it or slow it down.

I thought these were interesting statistics when I first read the article. Like, Caron, I'd like to see the measures on all the words they tested.

Motivated seller means desperate seller. Desperation is not attractive. No one wants to buy the house someone is "desperate" to get out of.

Toby, Very interesting. I agree that motivated = desperate. Must See has no effect I admit to using that one. I won't anymore. My favorite that I will never use is Won't Last, I wonder if that was in the study?

Has anyone every tried AdWriter?

It's a little pricey at $199 a year but it writes some absolutely compelling ads.

You just describe the house and what it has; AdWriter does the rest with wonderful descriptive adjectives and copy.

You can also select from an almost unlimited assortment of copy for each listing; just choose the one you like best. 

For the budget minded Ernie Blood's "Pocket Ad Writer" has some great, pre-written ads and ad phrases that are easy to adapt to your listings. I've used a copy for years.

Toby,

Thanks for the post. I had not seen anything like this before. I'll take note of listings with these words and terms.

falls in line with why i NEVER use 'price reduced' or the like on sign riders.  tells folks you have a fire sale going on.  i'm bookmarking this one as a great reminder for sellers when they ask for these words!

Timely information!  I have a seller that wants to include "motivated" in the listings....

Toby,

 Great post!  The numbers and information are very useful.  I've used "motivated seller" often and can understand the figures a lot better.  Keep up the good work!

Ray Nellum, GRLA

First, wow! I'm honored to have this many responses and to have earned my 10th gold star.

As to the "Motivated Seller" I think the responses are closer to "right" than his idea that they priced it too high to start with. "Motivated" could mean a lot of things. I recently had a deal where every time I talked to the selling agent's office they told me about the 85-year-old woman's two new knees and a new shoulder and how she was so motivated to get out of the house and into a one-floor condo. We had a question on the garage so I went over and met with the seller, she talked about how much she needed out of the house -- and that she "loved me" for showing her house twice. So my clients and I make an aggressive - and low-ball offer - expecting to negotiate. Turns out she's willing to go down $5000 and if she doesn't get that then it mean "she isn't supposed to sell." How is she motivated to sell? She's motivated -- but not by what will ACTUALLY sell her house.

Regarding "giving up" some of the goods on our sellers, don't we have to do that sometimes. I've got a lovely little house in Marion County for sale. For personal reasons, the seller is willing to leave "some" cash on the table to have the closure of this home selling. So we are marketing it more to sell. Of course, my broker has been using "motivated seller" ... so no wonder it hasn't sold :-)

Carol - as to who has the time? It was in academia. After spending 8 years in college public relations -- this is probably one of the more USEFUL things they are studying ...

Very enlightening post. I try to choose words very carefully, and this just further valudates that.

Great post Toby.

Motivated seller always gets me. Since when does someone go through the process of listing a property if they are "not motivated"?

As far as I am concerned, all sellers are motivated!, or why else would they be selling their property?

I think it is important to keep the remarks section pertaining to the house itself and not motivation or other ridiculous stuff.

Same thing with "Seller to find suitable housing"... Put possession is negotiable, and when you go into contract then you can buy a house. It is not like the people are going to live on the street, of course they will have to find suitable housing! Why waste the space in the remarks section that should tell consumers about the house!? 

Thanks for the post Toby! That felt good getting off my chest! :)

This is a great blog Toby. I have seen so often remarks in the MLS that says" desperate" and even though the seller maybe a willing and reasonable person, the statement "motivated seller" will bit you back.To resume it was interesting looking at the most important key word: "landscaping" taking the lead with 20%.That reminds me that I have seen some stats regarding landscaping showing that if one is to beautify their home, landscaping is the area which has the highest return for the money spent by a seller. many will think that kitchen or bathroom would be number one. Your points are so important: specially if it takes 15% longer to sale when the key word " motivated is used . There may be quite a few reasons.One obvious one would be that even though the seller would take less he is not going to accept any low balls which is what motivated means for some buyers.I believe that one has to be very carefull as you mentioned it. the other one I have seen is " buyer will consider all offers"! That says desperate also. And Ken Cook comment "  Well, the wife and I have our butt in a crack. Now we owe more on this home that what it is worth but we would really like for you to buy it anyway because we can't afford the payments anymore " says it all. People will see through them. At first I laughed my head off but then we all know that its not so funny and so close to the truth.You cannot give away money before you even start getting an offer.    

Carl - I wish I agreed with you that all sellers are motivated to SELL their property. I think that residential homes are becoming a bit like commercial - and this might be Zillow's biggest coup - where virtually every house is for sale -- for the right price.

I've seen a lot of homes in this market that are not "really" motivated to sell. They are simply "going through the motions" and waiting for someone to offer their price.

Of course, this leads to a flooded market, and that makes for unmotivated buyers. A vicious cycle.

Does not surprise me.  I look for those words as a property investor, because they sound desperate, so I know I can get a deal.  If I see "motivated seller" or "immediate closing" and the house is empty it makes them look desperate.  I have also learned this from trying to sell houses that I have flipped.  An empty house takes 40-60% longer to sell and sells for at least 6% less.  That is why I started staging.  Having an empty house just sit there was eating up my profits and the only offers I had were ridiculously low.  I am amazed at how quickly they sell once they are Staged properly.   

 Great blog!

Dawn

Home Squad

Toby,

Joanne,

This research is why I considered earning my Ph.D. because as college professors you always get the chance to study "weird stuff. But then I realized there were enough Ph.D.'s in communications to fill every teaching position in central Ohio -- twice and decided to go into real estate. Hmm ... guess my odds weren't a lot better :-)

We have a professor that was studying the effects of the Jamacian government on internation policy. Why? He gets a free trip to Jamaica every summer ... Tough life ...

Great post - I never use the word motivated.  I always thought it underminded the seller.  I did just represent  a buyer in a listing that said motivated and we offered the day it hit the market but it was a low offer.  My buyer stood firm and got a great deal. 

I havbe used "must see" maybe I'll stop.

MaryAnn

Thanks for this info! I will use it when couseling my sellers.

Another phrase I see a lot on our mls is "this home will not last."  I think it's so funny because they usually tend to stay on the market the longest.  You would think that after 6 months on the market, the agent might change the wording, but they don't.

OK do you see that trail of smoke?  That was me runing to the MLS to reword my listing.  What you say makes perfect sense and I will give it a try and LET  Y OU  know what happens.  Now I'm counting on you. :) Thanks and have a great day and to  you and yours

MERRY CHRISTMAS,

Eat, Drink and be Merry

Roberta Lee

Century 21 Olde Tyme

Yup. The words you choose in your advertsing can make or break you. TLW...ROAR! 

Toby, you can stop being Rich any time now.

Merry Christmas! 

Great advice! Simple and precise.

Merry Christmas!

Great thread and something to think about

Although I was at first a little surprised to hear that if the seller was listed as 'motivated' it could actually work against them, after reading your entire blog, I do understand it completely. 

What about listings that are listed as 'diamond'...does that work better than 'beautiful'?

I see several individuals wondered if the stats were available regarding advertising wording and the effectiveness.  Does anyone know of a website or book or report or study that can be reviewed?  I would be interested from a general advertising point of view.  I write all of the ads for my husband's listings and our flippers.  I would appreciate any help someone can give me.

Kim Hilgenberg  Ultimate Home Stager  785-266-0080  ultimatehomestager@cox.net

This is a listing of Paul Anglin's papers. In quick review, I didn't see the one that regarded the advertising, but a quick e-mail to him might get it for you.

Great post and great comments, too.  One of favorite descriptors has always been 'move-in condition'.  I will never used 'motivated sellers' again!

I am going to bookmark this as a reminder.  I don't use motivated.  And I really dislike seeing "this one won't last".  I always think yeah right.  And sure enough, I always see expired listings with "this one won't last!"

Boy, I've read these very interesting posts and mostly agree, but then again I have to disagree a little bit too.  I am in an area like many of you where the market is still declining.  No matter what advertising words I use I don't find that print ads do much except to appease the sellers and cost me money. 

The most important ad is the one I put into multiple listing and that is an ad designed to catch the eye of other REALTORS® not buyers.  I tend to scan MLS entries for "Realtorese" like many of you do.  I agree with the comments concerning "motivated sellers", "fixer-rppers", etc, but ultimately in my market words don't sell much.  It is the price!  It is the price of my listings compared to the PRICES OF THE HOUSES WHICH ARE NOT SELLING.  It has nothing to do with what has sold.  They are history, and in a declining market history doesn't count much.  What does count is the inventory of houses that have not sold and how long they have been on the market.  A lot of REALTORS® are still living in the past when it comes to pricing their listings.  But this isn't the past, it is the present.

When the market changes to an ascending one, then what is said here about words will be very relavent and at that time I will pay real close attention to the words others and I use, because then they will make a difference as will proper staging, curb appeal, and all the other things we learned in real estate school. 

And just so you don't think I am a spoil sport, I don't like "motivated sellers" and "fixer-uppers" either.

Joe Baker, Associate Broker

Joe,

I agree that in a world of descinding values the rules are a little different. However, I think that basing EVERYTHING on price is a little strange to me. I did a tour of every home in my development that was on the market yesterday. 12 houses and many of them were over-priced for the market -- but there were a few that were "fairly" well priced. Why haven't they sold? Read the MLS listing and you can see why. The home isn't being painted in the right manner.

I'd also disagree that the MLS is ONLY for other realtors. The Columbus (Ohio) Board of Realtors MLS system has added another section "Agent Remarks" which are only viewable by other agents. Why? Because the actual remarks section is being sent to Realtor.com and others. So that is a great place for Realtorese, then the more "blunt" stuff goes into the "Agents Remarks" section.

Marketing in a declinging market is different, however I believe the words are possibly even more important than they were in an appreciating market.

Dear Joe,

I agree with most of what you wrote in your answer to "Words Will Hurt Your Homes Sale." But there is one thing that I would like to comment on.

 That is; "What does count is the inventory of houses that have not sold and how long they have been on the market.  A lot of REALTORS® are still living in the past when it comes to pricing their listings.  But this isn't the past, it is the present."

As a Realtor you well know that we don't really  put the selling price on the homes we list for sale.  We can strongly recommend, but when all is said and done it is the seller that prices his/her home. Would you turn down a listing because the seller was $50,000.00 over priced and wouldn't budge off that price?  I think not, you would hope that it would sell and if it didn't in a reasonable amount of time you would go back to the seller and explain the facts of life to him/her and suggest lowering the price.  By doing this you probably have it at what it should have been listed for in the first place.  I know it is a game we have to play, but it is the sellers that are not up with the times and of course you fight the emotions that the seller has invested in their property.

I believe most of us try to educate the sellers in this market.  But that having been said, we all also know that is a job for a "counselor"  J

I certainly agree with the verbiage in the MLS.  It is eye wash for the other realtors.  I also agree with the terms "motivated seller." If the seller isn't motivated to sell then why are they listing in the first place.  Ahhh the conundrum.

HAPPY NEW YEAR

Roberta "Dove" Lee

Century 21 Olde Tyme

Norco, CA

Would you turn down a listing because the seller was $50,000.00 over priced and wouldn't budge off that price?

Yes I would. Why waste their time and mine? Let another Realtor list it and spend 6 months working them. If s/he can sell it -- then he's done something great. When it expires come in and save the day -- at the right price.

Dove, you bet I would turn down an overpriced listing, in a heartbeat.  I might even suggest that the seller contact one of my competitors and give them a chance to list it at an overpriced price. Let one of my competitors spend his/her time and money trying to sell something that won't sell.  My business plan requires me to turn down any listing which is priced 5.0% over my recommended price.  And I follow my business plan closely.

Every nationally recognized trainer will agree that it is better to walk away from a listing that you believe will not sell than to take it and hope that some time in the future the Seller will come to his/her senses and lower the price.  As a trainer myself, I recommend educating the Seller as to what is happening in the marketplace.  In a declining market I don't dwell on what else has sold recently.  I emphasize what is on the market and has not sold.  If that is done, then the Seller will agree to a lower price.  If the Seller will not agree, then leave before he talks you out of your shoes. 

I recommend that before you take another overpriced listing, sit down and analyze the costs including your time and travel and then compare that to $0.00 which is what you will make with an overpriced listing.   While we have a responsibility to our clients, we also have a responsibility to ourselves and our families and that is to make money.  You won't do that with overpriced listings.  You'll just spend a lot of time away from home.

Your challenge is not to turn these things down but rather to learn how to educate the Seller to set a saleable price on his/her property so that you can expect to make a profit by entering into an agency agreement with the him/her.

And Toby, I hear what you say.  I don't agree with it but I hear you nevertheless.   When properties are declining in value at a rate of two to three percent per month like they are in my market, words don't do much.  I was taught to put value on size and upgrades and fireplaces and things like that.  In my market buyers are bypassing larger houses for smaller ones because of price.  Three bedroom townhouses with all the bells and whistles and well worded ads are being bypassed for two bedroom ones and an ad that says "here it is, buy it if you want it" if they are less expensive.  Yes I will use all the smooth words I can think of, but unless the house is priced so that it causes excitement among the buyers in the marketplace, it will not sell in my market regardless of the flurry of words which surrounds it.

In Northen Virginia, agents sell houses.  We use ads and their words to get buyers and sellers for future business.  We don't use them to sell houses!  Good luck in you marketplace.

Joe Baker, Associate Broker

Joe,

I can't address your market as we aren't seeing that type of decline -- prices are remaining basically stagnent but we've seen about 1/2 the total number of transactions compared to last year.

However, I think we are along the same page just reading differently. If the house is PRICED right then words are going to help you get appointments -- and that's all we ask of our marketing efforts is to get us appointments. It is our job to buy and sell these houses -- not advertising. However, if the price isn't right, then what does it matter?

And in your market ... getting the "right" price seems to be a major challenge.

Toby, what a great post it got me thinking on what verbiage I am using to market my customers properties.  I am a numbers person and appreciate the detail you placed in the post as well.

Thanks

I think every seller right now is motivated. I agree completely. Words make a difference. I think that voids the "and words can never hurt me" part for both real estate and people. 

Nice blog Toby-

Interesting stats. Some of the words that I dread to hear the most are from the "overly helpful" seller that feels compelled to hang around and "help" the realtor during showings. Oh ma gawd....

Oh yes, Scott. Those lovely helpful homeowners -- you know the ones that really don't need to leave the house.

I do like when my sellers go across the street and give an idea of the "prospective". They don't interfere with the transaction, however, they give us a little insight. The best was one a few weeks ago, where the buyer's agent was crying "poor buyer" over a $1000 fix. I just asked how much the payment was on that brand-new BMW his client was driving? Deal done.

Thanks for stopping by Scott!

All interesting terminology even to a home stager - (now how can I can I make a home fit those terms?)