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119 Comments on Emotions FOR SALE - price negotiable
I agree with you Stefan but I have a question for everyone. Rick and I were discussing this yesterday and want some of you to enlighten us (Monika - you mentioned you do this with your buyers). What is the point of asking buyers to put "poker faces" on? What is the advantage of a buyer today to not show emotion when seeing a home? Is it because you think you'll be able to negotiate better if the buyer doesn't show emotion?
We have seen buyers jump up and down with joy and saying "this is it! this is the one!" and it does not mean they will pay more for the house, it doesn't even mean they'll place an offer for the house. Maybe it's our market, but a buyer showing emotion at a showing means absolutely nothing here in Miami, in this buyers' market.
Ines...Poker face only when the other agent is present...if it is just me and my client then not a problem they can show all the emotion they want.
Generally I advise that only for negotiations because it would put them at a disadvantage if the other side saw just how much they wanted the house.
I've done it myself...play hardball when I've picked up just how much they (The other side) wants it...I've adviesed my seller to drop a little and see how much wiggle room the buyer has because they really love the house...
I also think that in a Buyers market it may not matter as much as in a Sellers market just like you stated.
I have a bit of a contrary viewpoint on this. Done correctly, showing emotion can be an advantage. I use it for personal negotiation all the time, because trying to mask some of your feelings ALWAYS results in masking other unintended feelings as well. It makes me unauthentic.
So, I show how much I want a thing, be it a car, house, whatever... and use my desire for it to highlight the level of my objections. My objections are more real because all of my emotions are real. When I say, "I love this _______, but your price is unreasonable. No matter how much I love it, I can't allow myself to make this purchase at that price." They can see that I mean both sides. If what I'm asking for is reasonable and important, then I'm willing to walk away from the table. If they know I would really like to buy, love it and want it, but I'm walking away ONLY because of that thing, my personal experience has proven they are more likely to ask me to come back to the table.
Again, this is just my own personal experience, but it works for me.
Jeff - that's the way we handle all of our business. We let our customers express emotion infront the other agents as well as owners. Everyone involved will know that the buyers want the property, but doesn't mean they'll pay "anything" for it. Even in a seller's market, if you did not move quickly enough, you would loose the property, there were people placing offers in 3 and 4 properties at the same time hoping they would get one of them.
To add to why showing emotion is a good tool for me. When I'm working with a buyer and they show exitement at a property but not at the other, it's leverage I use to tell them, "but this house did not move you like the other one, I have never seen you get so excited with a property, are you sure you don't want to see the other property again?" - more than once, they see the other property and place an offer.
Bill and Barbara Jo - the discussion here was interesting because we cannot deny the emotional side of real estate. The only ones that don't involve emotions are investors. It's up to us, to be able to focus those emotions and to be able to interpret them correctly.
Diane - absolutely! I totally agree.
Duane - you got it! to avoid emotions and to say there is not room for them is a mistake.
Rick, I hear so many buyers dive into a home simply on emotions only to move into the home and wonder what they were thinking.
The general public rarely invests for their retirement utilizing an emotional approach. They always utilize the investment professional to provide them with due diligence, yet in their largest investment in life, they don't seem to use the tools to make the right choice to meet their or more importantly their families needs.
Duane - but I know you would agree that a transaction without emotion could also be detrimental. I think the best approach is for the customer to let the emotions flow, and hire a professional to keep those emotions in check.
ines
Ines, I agree, Real Estate will always be bought with some emotions. The tough part is when you have a couple purchasing a home that each have different heights of emotions on what meets their personal needs.
Utilizing a professional, and putting those emotions into a buyers home rating system where it combines both parties emotions to show which home best meets a couples needs together eliminates the frustration and streamlines the choice.
You chose a great topic here! BTW, love your city, my wife and I spent our honeymoon there.
Ines, same here until I developed the program. I felt like a marriage counsoler sometimes while touring homes with buyers. Some expected me to make the choice for them which is never a win win for us as agents.
Yeah...I have too much emotional stuff wrapped up in a client sometimes...then again, I sure have made some unreal friends as well as faithful clients and many referrals!
And....I reallllly love my house now that I have a new bathroom/tub/walls/plumbing. WooHoo!
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