The center of selling real estate is in the heart of any true real estate salesman or woman. He or she communicates with his or her broker, understands the market and has a deep concern for the potential buyers in their target audience. The emotions involved in real estate lie here, whereas the knowledge and selling tactics lie in the mind of real estate salesmen(women).
The psychology of real estate selling focuses on the seller’s understanding of the buyer’s mind and how the buyer’s emotions relate to his or her mind. These tactics aren’t just for sellers, but also for buyers to understand common irrationalities when searching for homes for sale. These influences may or may not be intentional by the seller and are simply factors that are known to influence buyers into purchasing a home.
What’s Beautiful is Good
People are more inclined to like something or someone if it/he/she is more attractive. They will associate good characteristics to this thing or person simply due to its looks and appeal. Potential buyers are more inclined to purchase homes if:
- The House is Well-Presented: When a real estate agent or homeowner prepares the showing of a home in a welcoming and pleasant way, the more likely a buyer will go through with the purchase. This comes down to an aesthetically pleasing exterior, a neatly decorated interior and an enjoyable smell.
Don’t flaunt it, though. The key is to present the home in a comforting way. Otherwise, the home runs the risk of being “too loud”. A well-presented house doesn’t necessarily increase the value of a home; it simply makes the buyer more comfortable. This leads to a higher chance of them purchasing the home and reducing their buyer’s remorse.
- The Seller is Attractive: A buyer is more inclined to purchase a home if the seller is attractive. Similar to an appealing house, a buyer will associate good characteristics and qualities to an attractive seller, especially if that seller is confident and speaks the buyer’s language (see below).
Confidence of the Seller
The confidence of the seller is a key factor when it comes to selling real estate. It displays expertise and trust to the buyer, which makes them feel comfortable.
- Fast Talker: A real estate salesman that speaks fast is seen as someone who knows what he or she is talking about. Potential buyers translate the confidence and quick speech of salesmen into knowledge and assuredness, which again makes them feel comfortable for being with an expert.
- Eye Contact: When a seller makes eye contact with a buyer, he or she is trusted more by the buyer. Eye contact signifies that a seller has nothing to hide, which allows the buyer to feel comfortable, open up and truly experience the showing of the home.
Carefully Chosen Words of the Seller
If a seller doesn’t choose his or her words carefully or speak the buyer’s language, then quick talking, frequent eye contact and seller attractiveness won’t win them over. The attractiveness of the seller and home grabs the buyer’s attention, the confidence and trust of the seller keeps the buyer engaged, but what the seller says will ultimately make the sale. When a seller chooses his or her words carefully, they form more trust with the potential buyer.
- Don’t Oversell: This is primarily important leading up to a showing. If an ad for a home talks up how AWESOME it is, then the chances of the potential buyer actually thinking it’s awesome is slim. Too much hype builds up their expectations and doesn’t deliver the shock factor. Entice the buyers early on to draw them in and let them see for themselves how awesome the house is.
- Speak the Buyer’s Language: It’s important to understand the buyer’s language. This helps sellers if they understand their target audience. The more they know about buyers, the more they speak to them in commonalities, relate to them, gain their trust and make the sale.
Real estate psychology comes down to the seller’s understanding of the buyer’s mental process, irrationalities and emotional relations to the mind. The more expertise and trust real estate salesmen(women) display, the more likely sellers will go through with a sale. A real estate salesman’s ultimate goal is to make the sale and reduce as much buyer’s remorse as possible, which is accomplished through the display of expertise and trust by the seller. From a buyer’s perspective, it’s best to think rationally as possible when looking to purchase a home, even if that means thinking longer on the purchase, rather than making a decision right away.
Sam Ott writes on behalf of Assist-2-Sell in Kirksville, Mo, who is the most trusted and knowledgeable real estate company in and around Kirksville. Find out why their clients value their trust.