What selling a house can teach us about market research
9/10/13 / David Kennedy
We recently sold our house and it occurred to me that the process of selling a house has similarities with market research. (I promise it’s not that much of a stretch…)
For instance, selling a house can take time, and the challenge is getting prospective buyers to pay attention to your house. In market research, participation rates are declining, and we strive to get people to pay attention to our requests for their participation.
Another similarity is that when we were selling our house, we brought in the experts – not just a realtor, but also a stager – to help increase our chances of success. Corona Insights exists because our clients choose to do the same.
But what can selling a house teach us about research?
The stager helped us see our house as a buyer. While we may think we know how they’ll see our place, in reality they’re looking at it through very different eyes.
In conducting market research, it’s important to remember how the respondent or participant views the research. How will they view the recruitment process, survey invite, or incentive offered? Do they think the survey is repetitive or focusing on minutiae? Or do they think the in-depth interview is too mundane?
Taking a step back and placing yourself in their shoes, or better yet, pre testing your research with a small group of respondents (e.g., stagers), can help you close the deal.