Understanding what business we’re really in!
In order to be successful we have to understand what this business is all about or what it really boils down to. (Unfortunately this is a concept that few salespeople really understand.)
So given that, what then is real estate all about?
Emotions and Dreams
In short Real Estate is about people’s emotions and how those relate to their decisions. The premise is that people buy things based on their emotions and then justify them through logic.
This then leads us to the question and answer of, “why do people buy and sell homes”?
Let me explain:
Everyone has a deep-seated desire or fantasy burning inside that dictates why they make major or even minor purchases and rationalize their decision to do so.
What’s interesting is that decisions made because of these emotions often outweigh logic and/or generally carry no guarantees.
To illustrate the point consider a few reasons people buy a newer, fancier or more prestigious home:
A-To feel good about themselves.
B-To feel successful and to justify their hard work.
C-To look better to their friends and Family.
D-To enjoy their free time better.
E-To have a nice place for their children to grow up in.
Given the fact that everyone wants to improve their lot in life, these reasons definitely can contribute to the goal of improvement even though there are no guarantees that the results they are looking for are going to happen and/or they make sense financially.
As a salesperson, if you make a conscious effort to get to the bottom of what people’s real motivations are, you are way ahead of the game in helping them buy or sell. This of course means qualifying or asking the right questions and really listening!