Impress your clients and your dinner guests with these 28 shocking real estate facts. There's more to this ancient industry than you know!
The real estate industry continues to change as modern lifestyles demand more and more from our homes. Along the way, some funny and fascinating things have occurred.
If you’re looking to impress at your next networking event, these fun facts about real estate may pique your interest. Brushing up on interesting real estate facts can also break the ice with new clients.
Why is Real Estate Called “Real Estate”
The word “real” comes from realis, a Latin term meaning true. Real is also sometimes used in legal contexts to reference immovable property.
The term “estate” goes back to Latin and even French. “Estate” has roots in the Latin term, status, which means condition or state.
Brass Door Knobs Disinfect Themselves
Did you know that bacteria naturally die after coming in contact with brass? The ions within brass have a killer effect on mould, spores, viruses, and many living things that make us sick. This is called the oligodynamic effect. Over the span of 8 hours after coming into contact with harmful bacteria, brass will naturally disinfect itself.
4s and 7s Communicate Professionalism
Pricing psychology describes the pricing techniques used to subconsciously motivate people to make a purchase. Research has shown that less common numbers such as 4 and 7, convince buyers that you have thought deeply about the price and are less likely to make any exceptions or changes. If you want stronger offers on your listings, prices such as $444,000 or $447,000 have been proven more successful than $450,000, for example.
Red Scottish Doors
If you ever visit Scotland, you’ll likely notice a number of houses with a red front door. In Scotland, it is a common custom to paint your door red when you finally pay off your mortgage.
Any local knows about this custom, so keep an eye out for proud homeowners next time you’re in The Kingdom of the Gaels.
Black or Charcoal Front Doors Make a Home More Expensive
According to research by monster real estate marketplace, Zillow, homes with dark charcoal or black front doors (and garages) consistently sell for higher than expected – $6,271 more, in fact.
Yes, Mail Order Houses Were a Thing
In the early 1900s, Sears featured a kit to build your own home in its catalogues. This mail-order kit featured the blueprint of the home and all the pieces you’d need to build an affordable and simple house.
1/3 Sellers Initially Try to Sell Their Own Homes as FSBO Listings
Without real estate education and experience, it’s easy to underestimate the challenges that come with selling property. However, only about 10% of FSBO listings make it to sale while the rest find themselves needing a real estate agent.
You Can Buy Property in the Metaverse
In the world of AI, virtual real estate doesn’t seem that wild. Virtual real estate can include virtual properties, land, and even virtual businesses.
While these purchases may not have the same tangible value as physical real estate, they can still be valuable assets for users who want to establish a presence within the Metaverse.
Remember the Reality Show, Extreme Home Makeover? The Results Were Not Always What They Seemed.
If you were watching real estate and home shows in the early 2000s, you likely stumbled upon the tear-jerker, Extreme Home Makeover. The producers would find a family in need and build them their dream home. Unfortunately, many of these lavish homes came with utility bills and tax assessments that the residents couldn’t keep up with. In the end, many of these properties were put on the market.
McDonalds is a Real Estate Business
Did you know that McDonald’s was initially founded as a real estate company? The original business model was to buy land and lease it to franchisees that would run individual McDonald’s restaurants.
Today, McDonald’s is still a thriving real estate business with nearly 40, 000 locations in over 100 countries. The company makes the bulk of its money by retaining ownership of the land and renting restaurants to franchise owners in addition to standard royalties and monthly franchise fees.
The Most Expensive Residence in the World is Buckingham Palace.
No, the royal residence is not for sale. However, it is estimated to be worth roughly $1.55 billion. The fat price tag is not just about the countless rooms and incredible location. Buckingham Palace is an important symbol of British culture and history. Plus, it generates tons of income for surrounding businesses by attracting tourists year-round.
There are More Single Female Homeowners in the United States Than Single Male Homeowners.
According to the National Association of Realtors, single women are more likely to buy their own homes than single males. Increasing financial independence and higher career expectations for women have encouraged home ownership. Single women are also more likely to live in urban areas where there is better access to employment and other interests.
The Average Person Moves 12 Times in their life
According to a recent survey by the United States Census, the average citizen will move house nearly 12 times throughout their lives. Luckily, these home owners will need a real estate agent’s help each of those times.
This number has spiked with globe-trotting millennials becoming a major group of homeowners. Most millennials will stay with a single employer for less than 3 years, while groups 55 and older often stay with the same company for 10 years, according to PR News Wire.
The World’s Largest Treehouse Was Over 100 Feet Tall
Unfortunately, the world’s biggest treehouse is no more. The massive 10-story tree house was located in Crossville, Tennessee before being destroyed in a fire.
The treehouse featured multiple rooms including a basketball court and chapel. The structure covered over 10, 000 square feet, easily making it the largest in the world. It was built out of natural materials over the span of 15 years. Many of these materials were donated by the community and Christian followers who called it “The Minister’s Treehouse”.
The White House Was Gutted and Rebuilt in 1949
The White House had been deteriorating for years before it was finally taken down and rebuilt. In June of 1948, Margaret Truman’s piano broke through the floor in her sitting room and into the ceiling of the dining room below.
The following year, the White House began a four-year renovation project that involved rebuilding it with steel beams (as opposed to the old wooden beams).
Most Traditional Chinese Temples Were Designed With Curved Roofs
The ancient Chinese believed that evil spirits only moved in straight lines. Curved roofs were built to prevent evil spirits from being able to enter precious temples. Sprits hated curved lines and were believed to fall off due to the temple’s drastic angles.
Over 17 Million Americans Spend Half of Their Earnings on Rent
A study by the Joint Center for Housing Studies of Harvard University released findings that showed that one-quarter of renters in the U.S.A. spend 50% of their income on housing.
Staged Homes Sell Faster
It’s proven time and time again that staged homes sell faster than non-staged properties. In fact, 85% of American real estate agents surveyed by Wise Living reported that staged homes sold three times faster than non-stages. Minimally updated doors and windows added the most value, with homes often selling for $10,000 more.
If you’re having trouble convincing your clients to stage their home, read these staging tips.
Smart Devices Attract More Buyers
Research from Security.org shows that over 70% of modern buyers would pay more for a home fitted with smart devices. Smart devices are believed to make a house more convenient while also saving time and money. Women are also twice as likely to want smart home security technology.
Paranormal Activity Doesn’t Sell
According to a Zillow survey, 1 in 10 Americans have been scared out of their homes by paranormal activity. These scary experiences include seeing ghosts or other entities. Young home owners and females are the groups most likely to have experienced a supernatural event in their home.
Nearly 50% of Buyers Believe that Real Estate is a Smarter Investment Than Stocks
A survey by the National Association of Realtors revealed that a large percentage of home buyers believe that the stock market is too volatile to be a good investment. Real estate is seen as a generally safer investment.
California Has More Realtors Than Any Other State in the U.S.A.
The California real estate is consistently in-demand and is currently booming. The sunny state is an infamously popular location for buyers who want to be close to the beach at a relatively affordable or luxury price.
Chinese Builders Skip the 4th Floor, While American Builders Skip the 13th
Every culture has its superstitions around certain objects or numbers. In Chinese culture, the number 4 is considered bad luck and many Chinese builders skip the 4th floor. On the other hand, the number 8 is considered quite lucky and units on the 8th floor often go for a higher price.
In American culture, the number 13 is commonly considered unlucky. We even have a name for the irrational fear of the number 13, Triskaidekaphobia. Many builders still avoid the number 13 in elevators and apartment buildings.
The Church of Scientology Owns An Impressive Amount of Hollywood Real Estate
Did you know that The Church of Scientology owns more historic Hollywood historic buildings than any other entity? The Church’s fascination with these particular buildings has yet to be explained.
The White House Wasn’t Always “The” White House
The White House didn’t get its famous name until 1901 when Theodore Roosevelt decided to make the White House an official title. The structure is repainted every four to six years to keep that bright white color, which requires an unbelievable 570 gallons of paint.
The Largest Mall in America Is Owned by a Canadian Company
The largest mall in America is not actually American. The Mall of America is owned by the Triple Five Group, a real estate conglomerate from Alberta, Canada.
This company also owns the largest mall in Canada, The West Edmonton Mall.
Curbstoners Were The First Real Estate Agents
Curbstoners were major real estate hustlers. When a house went up for sale, they would rush over, position their real estate sign, and sit in front of the home from 9 a.m. to 9 p.m. As the industry modernized, agents opted for 2-3 hour open houses.
The first record of an open house with incentives for visitors was in 1952, Texas, when an agent offered a Cadillac and free Coca-Cola to whoever purchased his listing.
84% of New Homebuyers Say Online Research Was Crucial to Find Their Dream Property
A strong and professional online presence is a must in today’s real estate market. Typical home buyers now start their home and agent search online. Many won’t even view a property or meet with an agent if they aren’t impressed by their online presence.
AgentFire Designers have built thousands of real estate websites that have created measurable results for agents. Speak to our team about how we can upgrade your online presence.
Now You Know!
There are tons of interesting things to learn about home ownership in your own hyperlocal area and on a national scale! Why not continue adding to your real estate repertoire with some impressive facts?
If you want more in-depth articles, tactics, strategies, and advice – subscribe to our newsletter. And if you want to dominate your hyperlocal real estate market, check out AgentFire’s websites, #1 rated for several years in a row.
11 Important Real Estate Social Media Predictions for 2023
Making smart social media predictions can make the difference between sinking or swimming in the new social media landscape. It can seem like a cons…