In a realestate.com.au test, 44 potential buyers were split into groups to inspected the same house which had been infused with either freshly-baked brownies, hot bread, freshly brewed coffee, citrus or smelly socks. The groups were then asked to estimate the overall value of the home, having been provided with a guide price by the selling agent.
The citrus smell resulted in a valuation of $850,250 for the suburban house compared to the smell of roast chicken which resulted in buyers valuing the same house at $749,500. Unsurprisingly, the smelly sock scent resulted in the lowest valuation for the house at $743,750.
Average property estimate:
- Citrus $850,250
- Brownies $821, 250
- Baked Bread $808,750
- Coffee $785,000
- Roast chicken $749,500
- Smelly socks $743,750
This study was carried out by the REA group in conjunction with Dr Megan Thornton of the Deakin University. 25 October 2016
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