A new study concerns some interesting analysis when it comes to real estate agents, house prices, and the length of time a property is on the market, reports Marina Adshade for Big Think. In a paper titled "Broker beauty and boon: a study of physical attractiveness and its effect on real estate brokers' income and productivity," published in Applied Financial Economics, Sean P. Salter, Franklin G. Mixon Jr. and Ernest W. King found that what the agent looks like matters. First of all, you don't want a dude:
It turns out having a male agent is bad for the selling price of a house. Both male listing agents (those acting on behalf of the seller) and male selling agents (those acting on behalf of the buyer) are associated with lower house prices than their female counterparts.
And, what's more, homes with good-looking agents sold for higher prices:
Being attractive, for both listing and selling agents, is associated with higher final sale price for a house, with the effect on house prices of having an attractive listing agent is about twice as large as that of an attractive selling agent.
In a way, it makes sense; humans are visual creatures, and if some polished, pleasing-to-the-eye power broker who looks like a million bucks tries to sell on something worth a million bucks, we're probably going to agree to the price. That's just how sales works! The pretty people in Prada have known this for years.
That said, it's disappointing to think that we are so shallow that two agents could have the same skill and experience, but the more attractive one secure a sale at a higher price (and make more of a commission). And, as usual, being a black person is a setback:
The study also finds that non-white listing agents are associated with lower final prices and both non-white listing agents and selling agents are associated with longer times on the market.
Image by Andy Dean Photography/Shutterstock.