Psychology of Selling

So we were sitting around the office the other day talking about technology and how it has influenced the real estate business as well as everything else in our world.  Amazon wants to deliver orders via drones, kids are ordering candy and toys by “asking Alexa”, and now you can even view a 3-D floor plan of a house, sign the contract, schedule the inspection and close the transaction without leaving your recliner! 

That may be the way of the future for investors who don’t want to make a house their home, but for the rest of us, making such a big investment and not physically seeing or getting a vibe of a home might seem ridiculous.  By visiting the home and the neighborhood it’s in, we create in our minds the kind of life we want to live, we imagine ourselves entertaining family and friends, how we will decorate and even if our pets will like it.  

Studies abound about the psychology of purchasing a home and after researching, it all boils down to the emotion that is evoked by the actual experience of the home.  The sights, the sounds, the smells inside and out generate emotions.  Crazy stuff, like a room painted an ugly color can make people less likely to buy a house – even though a couple cans of paint can cheaply resolve the problem.  Studies also proved that sellers living in their home while on the market are more likely to think the value of their property is far greater than what the actual market will bear.  Sound familiar? 

Better schools or smaller kitchen?   Longer commute or less square footage?  Walk to shopping and services or privacy and space?   Experienced real estate agents know there is a lot of emotion involved in the selling or buying a property and the value they bring to “ground” their customers is priceless.  They bring logic to the table, respectful of the emotions of the buyer or seller and can help them make better business decisions.

No matter how technology continues to advance our business, the old fashioned way of selling real estate still works.  It’s listening to your buyers and sellers, understanding the lifestyle they desire and finding them the home that makes them excited and happy about a new adventure in their life. 

 

Written by: Kathy Zorn

 

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