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I Guess It's Human Nature to Think We Are Smarter Than the Other Guy

By
Real Estate Agent with Coldwell Banker D'Ann Harper REALTORS® TX License #0566780

I Guess It's Human Nature to Think We Are Smarter Than the Other Guy

Walk on a car lot and the sales guys make you out to be a mark. You, on the other hand, have done your internet search, maybe AAA, Consumer Report, and have a COSTCO dealer price invoice. With your info, you plan to work the price to a very low profit to the dealer. To you, the sales guy and the auto company is the mark.

While it is natural that each party wants the best deal possible, each must appreciate that unless an agreement is reached, the seller can't sell and the buyer will not buy from the seller.

Same situation for home buyers and sellers. Seller may believe the value of their home is greater than the market will accept. Buyer has comps and an agent with a finger on the pulse of the community. For the Seller, do you want to sell your house or do you want to get your price?

I hardly ever suggest to a Seller that their home is over priced. But I do explain when the market is not agreement with the pricing decision. The seller of any product or service should be aware that buyers usually have alternatives. Seller should not think they are smarter than the other guy.

I happened to see this YouTube video with the interesting title, "Brits vs Americans: Who's Smarter?"

Acting on the assumption that we are smarter than the other guy can lead to miscalculations, lost opportunities, and failure to achieve an objective. It probably is human nature to think we are smarter than the other guy. But remember, without an agreement there is no sale.

Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Joan-The market may not be correct, but it is the market.

Marie-Thanks for your comment.

Linda-Market forces are the ultimate leveling agent.

Eric-Thanks.

May 15, 2014 10:43 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

No matter how smart we think we are, the reality is there is always someone smarter. We see it with the propel that accumulate Million$ at an early age. We need to be aware that the next smarter person might just be the one on the other end of the phone call

May 15, 2014 12:16 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
Could it be that that's how we all advance by default LOL?
May 15, 2014 04:33 PM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Very often I let the one who thinks they are smarter than me believe they are smarter than me. Does that make me smarter than them?

May 15, 2014 10:17 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Just the facts should speak loudly to Sellers....but that requires an open mind and open ears and not a pre determined price...which of course, is not always the case.

May 16, 2014 12:45 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Amanda and Jared-Thanks for comment.

Suzanne-Step ahead is OK, just don't get too far in front.

Kate-Win-win is a great strategy.

Phil-I agree.

Gary-Unfortunately, we don't know what we don't know.

Tom-Supply and demand does play a role in home sales.

Tamara-Grandparents have life experiences which is a great teacher, if we want to learn.

Jill-Thanks.

Bruce-I appreciate your reading this post.

Rob-That is the essence of a great sale.

Ann-Good point.

May 16, 2014 01:59 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Ed-Right to not get overly impressed with what we know.

Laura-Could be.

Gary-I'm not smart enough to answer that one.

Sally and David-No question about that.

 

May 16, 2014 09:18 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Wayne, I understand the context in which this was written. I don't see it as being smarter, I see it as a matter of collaboration to reach a desired goal. I know a lot of really not so smart people in real estate who are making a ton of money. Seems the really smart ones are those that struggle the most. Maybe it is there smart-ness that stands in their way.  Great post!

May 18, 2014 10:37 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Wayne,

Kathleen said it beautifully, and I have seen when somebody is so smart, they get in their own way.  A

May 19, 2014 09:28 AM
Yolanda Cordova-Gilbert
Richmond, TX

Wayne,

 Great post and I totally agree with it. Kathleen did add a very valid point, I see a ton of people that are not all that smart but very successful. Makes one wonder!

May 20, 2014 06:01 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Wayne, You make several good points in your post. Both buyer and seller in any deal need to feel good about the deal. There really should not be a winner or loser loser especially when a home is involved. Thinking you are smarter than the other guy is what i call the Enron syndrome as they always though they were the smartest people in the whole world. Of course look what happened to them! I was going to suggest but you were already featured.. 

May 20, 2014 07:57 AM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Well said and oh so true.. it is best to not think that one side is smarter than the other. 

May 20, 2014 11:45 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Wayne, and sometimes the buyers think they are so smart as they lose one lowball offer after another, convinced that they know the value of the seller's home.  Of course, the only way the seller can feel vindicated is if another offer comes in that is closer to market value. 

May 20, 2014 11:54 PM
A. J. Zaki
REMAX Realty Pros - Boca Raton, FL
Home Finder In Florida

                                                                                                                         Thank you for sharing your thoughts.. This was a good read!

May 21, 2014 02:12 AM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Wayne, love the video! I've seen both sellers and buyers think they're smarter than the than the competition only to get a rude awakening. What a business we're in. 

May 22, 2014 02:19 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne finally I get to comment on your post, all day yesterday AR would not allow me to see your latest post....or I was not smart enough to figure it out:) Loved your post and the Video had me ponder some more and wondered where does the French & Hungarians fall in this mix:))LOL

May 22, 2014 02:41 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Wayne

Thanks for sharing an outstanding photo and video.

Good luck and success.

Lou Ludwig

May 23, 2014 10:50 AM
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Tough to tell someone they are wrong, especially our clients. It's best to be diplomatic and you are, Wayne.

May 28, 2014 04:21 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Wayne, I did enjoy the video and your post as well.  It did remind me of a story I read about a man working as a janitor with and off the charts high IQ.  When asked why he was doing janitorial work with such a high IQ his response was that the higher you reach on the ladder of success, the more responsibility you have...there are more people willing to take advantage of you.  To the best of my knowledge this is a true story.

Jun 06, 2014 09:08 AM
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

I have never really thought about being smarter than anyone else but I suppose it is true 

Jul 06, 2014 02:04 PM