BEHR Paint and Zillow's Paint Palette Helps to Increase Home Value
Laura McQuarrie — August 3, 2021 — Art & Design
References: behr & prnewswire
When it comes to selling a home, sellers usually opt for certain colors and thanks to a new collaboration, BEHR Paint and Zillow are taking the guesswork out of choosing the right ones. The partnering companies curated a palette of welcoming colors that are specifically designed to "enhance a buyer's first impression and could ultimately increase the return on investment of the home." Based on a 2021 Zillow-commissioned paint analysis of almost 1,300 recent or prospective United States home buyers, a palette of BEHR colors was created—and working with these colors has the potential to increase the price a buyer is willing to offer on a home by nearly $5,000.
The 12-color palette includes light neutrals, versatile grays and warm whites, plus blues that are popular in bedrooms and bathrooms.
The 12-color palette includes light neutrals, versatile grays and warm whites, plus blues that are popular in bedrooms and bathrooms.
Trend Themes
1. Paint Color Curation - The partnership between BEHR Paint and Zillow provides an opportunity for other companies to collaborate to create their own curated palettes for different markets.
2. Color Psychology in Real Estate - There is an opportunity for companies to conduct research and studies on color psychology in real estate and come up with unique, data-driven color palettes for different types of properties and customer segments.
3. Personalized Color Recommendations - An AI-powered platform that uses data to offer personalized color recommendations for homeowners and sellers based on factors such as location, property value, and buyer demographics could disrupt the traditional home improvement industry.
Industry Implications
1. Interior Paint - Companies that specialize in interior paint can leverage data-driven insights to create their own curated palettes and market them to homeowners and sellers looking to increase home value with minimal investment.
2. Real Estate - Real estate companies can collaborate with paint manufacturers to offer personalized color recommendations to homeowners and sellers based on the specific needs of the property and target buyer demographics.
3. Home Improvement - An AI-powered platform that offers personalized color recommendations for home improvement projects can disrupt the traditional approach of brick-and-mortar paint stores, making it more convenient for homeowners and sellers to get color advice from the comfort of their homes.
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