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Why People Buy Homes...or Anything Part 2

By Curt Fletcher

Real Estate Sales Representative

January 09, 2008 02:22 AM

I've been so busy, my Blogging has lagged behind....

This is the 2nd part of a 4 part Blog series related to the REAL reason people BUY HOMES!!

Do you take what buyers tell you at face value? Or do you Find the Real Emotional Buying Motive?

If you missed Part 1....CLICK HERE.

REMEMBER!!! People Buy on Emotion, NOT Logic!!

Buying Emotion 4

Romance:

Ex: Do the buyers desire certain home features such as a fireplace in the master bedroom, jetted tub, etc..

Perhaps they desire a nice secluded location that is quiet and private.

The key here to remember this. If the buyer mentions the need for certain items, don't discard them. Ask them, "Why is that important?"

The answer you get will tell you everything you need to help them find the perfect home.

Buying Emotion 5

Investment:

What is the long term equity situation going to be?

This buyer is more of a thinker; they want appreciation percentages, future projects coming to the area, local business expansions, and job growth potential.

Many people think this is not emotional...WRONG! This is actually one of the most powerful emotional reason's!!

Why do people want a good investment. Just cause? No. Find out the reason for the investment. Is it financial freedom? More Money in the future? Early Retirement?

Whatever the reason, find out what the driving force is. In the end, you will find the source of all investment reasons point to living a more happy life. Perhaps its to help those in need, put their kids through college, spend more time with family later in life.

Does this make sense?

Buying Emotion 6

Security:

Does the community offer a gated entrance? How solid are the doors? What surrounds the community? Does the home have a security system? Does the oven have an automatic shut off? How are the streets designed? How safely can children play outside? Local crime stats?

Pay attention to clues. If they ask if there is a gated entrance, DON'T ASSUME ANYTHING!!

Ask them, "Why is this important to you?" Find the real EMOTIONAL BUYING MOTIVE.

Understand that of the 12 factors that I will outline, sometimes multiple items are the key emotional factors. Every buying decision of every product can be traced back to one of the 12 items I will outline, whether it is a 25 cent pencil or a $50,000 car.

Let me hear your thoughts.

Curt Fletcher aka The Likeability Guy

Author of How To Sell More Homes and Increase Your Income

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Rate A Home - Saugatuck, MI

Curt, excellent post. Emotional buying is scary, but majority do dive into the largest investment in life with this approach.

Jan 09, 2008 02:29 AM

Suzanne Gantner

Realty Texas - Round Rock, TX

GRI, E-Pro, SRES, SRS, ABR, CNE, REDS, CPS, WCS

Good information since we have the saying sometimes "Buyers are liars" maybe not, maybe we just don't ask enough questions or maybe we don't listen.....

Jan 09, 2008 02:36 AM

Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

Don't buy that people buy as a rule on emotion rather than logic. In Maine, letting your heart make all the decisions is like shopping at the grocery when you are hungry. We see lakeshore property is in a shortage be something that can be more of a buy with your heart not your head for out of state buyer. But as a rule with homes...farms, land, there is for the native Mainer a real practicality. Growing up on a farm meant, don't spend money you may not have...rather than buy furniture because it looked pretty and you wanted it right now...you looked it over, decided it would not last and that you would wait until you could afford to buy something that would last longer..even if it cost a little more. You shopped more, you were willing to wait for more value. Lower income, lower real estate prices translates into better buying decisions made using Spock like logic as can not recover from mistakes as easy.

Jan 09, 2008 02:42 AM

Curt Fletcher

Fort Worth, TX

aka "The Likeability Guy"

Andrew, Thanks for comment. People do buy on Emotion though. I'm not advocating bad buying decisions or fiscal irresponsibility. The point of the 12 emotional buying factors are to find the "Real" buying motive. Woman don't buy make-up just to have it, they buy it to feel better. People don't buy features or statistics, they buy what the features do for them.

Does this clarify what I mean? The buying process should be geared around "Discovering" your buyers emotional needs. When you find those, the rest is very easy. However, if they fall in love with a home, they truely cannot afford and you know it will impact their life negatively, I would not let them make that decision.

My goal is always to impact my buyers lives in a positive manner. I would be willing to bet that not all people in Maine are in the same boat though.

Jan 09, 2008 03:00 AM

Duane, your right. Emotional discovering is really more what I am advocating. When we find out the real buying motive, we can help our clients better. Logic justifies the purchase, after they are emotionally invloved. Thanks for the comment.

Jan 09, 2008 03:02 AM

Suzanne, Great Comment! That is exactly what inspired me to write this post and alter my real estate approach several years back.

I would hear buyers are liars all time and I think that is false. In the beginning, buyers have their natural defense's up and they say things that are simply defense mechanism responses or things that "WE" have trained them to say.

By digging deeper and asking the "why" and "what" questions, we can determine the real answer. Unless they are a pathological liar, people cannot really lie 2-3 questions deep in a conversation without giving up the truth.

Jan 09, 2008 03:06 AM

Elizabeth Nieves

The Elizabeth Nieves Realty Group - Durham, NC

Bilingual Raleigh - Durham North Carolina Real Estate Team

CURT- I TOTALLY agree with you on all of these points! IF we listen, we can tune into their emotional trigger and find the home that really meets their needs. GREAT STUFF, my friend! I hope you are busy with LOTS of transactions!! GBU!

Jan 09, 2008 02:52 PM

Renee Parker

Coldwell Banker Hubbell BriarWood - Lansing, MI

Lansing Realtor

Before 2007, I totally believe MOST buyers bought on emotion. Heck, I have always bought on emotion. It feels right. It feels like home. You just get the gut feeling that this is the right house to buy. But in 2007 I found a new set of buyers...the unemotional type only looking for a GOOD DEAL. They didn't care if the offer did not go through....as they will say, there are many more homes out there. They are looking for the houses that will go with a low ball offer. This threw me off for a long time. Business had changed. The buyers were a new breed. Not all. But the new wave had begun.

Jan 09, 2008 11:38 PM

Elizabeth, thanks for the comments! Things have been super busy lately, and it is mostly because of nice people buying homes. I have a lot to be thankful for!!

Jan 10, 2008 03:00 AM

Renee, You make an Excellent Point there!! Your right, these days many people walk into our lives "looking for the deal". What I have found though, is the buying motives are still the same as they have always been, but buyers have been trained by the media and other real estate people to get a "deal."

It takes a bit more listening and questioning, but the motives are all still there. I have several comments that I make, somewhat lighthearted, when people ask me for the deal or tell me about the crazy deal someone else is offering.

I usually say something like, "If both homes were free, which would you decide on?" The answer is always mine. I tell them that when you buy a "deal", you get a one time benefit with a lifetime of doubt in a home you may not like.

I think you have inspired a new blog topic for me! Thanks!

Jan 10, 2008 03:08 AM

Glad I could help Curt! (be sure to let me know when the topic is written! :-)

I always enjoy your posts! Great work.

Jan 12, 2008 11:13 AM

Why People Buy Homes...or Anything Part 2

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