The humble For Sale sign is such a fixture in residential neighborhoods that you barely notice it. It’s the only thing in real estate that seems to never evolve, as the changes in real estate have mostly been digital. Often consumers find interesting properties online before seeking a realtor, which creates a more informed marketplace. And with so many photos and 360 tours available at their fingertips, consumers can see attributes of a home they like or dislike before visiting a property.
But despite a ton of property-specific content, sellers often struggle to differentiate or command a premium, beyond the externalities within their specific sub-market. Neighborhood comps and price-per-square foot largely dictate what a house will sell for. Location, location, location wins almost every time.
Because its pricing is efficiently driven by the market, it could be argued that real estate is largely a commodity. But any good marketer knows that the goal is to escape commoditization through differentiation—and find buyers who appreciate your product’s premium differentiators.