By Jeanette Joy Fisher

Home sellers and real estate investors, who fix and flip or fix and rent, benefit from doing a little market research and applying marketing psychology.

Home sellers need to understand their local real estate market. How many houses are for sale in the area? How many houses sell each week? Is it a sellers' or buyers' market? Sellers who research their market know if they need to apply extra measures to entice a home buyer to pay asking price right away or if the seller can just offer the house "as is." 

Home sellers also need to know what type of buyer closes on similar houses. Sellers can make a specific marketing and redesign plan when they know if their prospective buyers typically include:

• real estate investors
• first-time home buyers
• move-up buyers
• retiring empty nesters
• vacation home buyers

Home sellers and investors who rehab houses make more money when they fix the houses up using features and colors that attract their buyers' profile. Instead of painting everything white or neutral, savvy investors can paint walls in colors that speak to buyers. For instance, first-time home buyers usually have younger, less-sophisticated tastes. They love brighter, primary colors and might pay more for a bold kitchen with lemon yellow accents. On the other hand, move-up buyers, typically older, educated, and sophisticated prefer complex colors like coffee 'n creme.

Contrary to what most home staging books tell you about painting everything white, daring to use color instead of bland white walls will increase your profit potential. Did you know that Lynette Jennings tested people's perception of room size and color? A room that was painted white appeared larger to only a few people in the survey, compared to an identical room painted with a color, and the perceived difference was only about six inches! Because most people look better surrounded by color, a colored wall also makes them feel happier, and buyers will choose to buy the house that makes them feel happiest.

Spend time planning your home's sale, rather than just listing it and then taking your chances, will net you more money, and faster!

Landlords can use marketing psychology and interior design to attract better tenants who will pay more. Instead of boring beige walls, we painted our latest investment house's living and dining rooms in a new soft taupe color. The tan color with a gentle pink glow helps make the boring beige carpet selected by the past owner less detracting. We wanted older tenets instead of a young family because the home has a swimming pool. The house is perfect for the new tenant--a divorcing mom with one teenage daughter.

Once you determine your redesign plan for your profiled buyer or tenant, you need to use marketing psychology strategies to generate "traffic" to your "product," your buyers' or tenants' "dream home." Take advantage of Internet marketing methods when you create your sales flyer. Instead of just listing the home's features, like most generic agent flyers, create a flyer with BENEFITS to the new home occupant.

For more information about selling houses with marketing and interior design psychology, please see Home Staging Information.

Copyright © 2006 Jeanette J. Fisher