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The Science of Selling

Tuesday, June 14, 2016   /   by Jeff Stoffel

The Science of Selling

You know that there’s more to selling than charisma and a charming smile. Even when you’re showing the best house on the market, you have to stage it to appeal to potential home buyers or else they might not see its true value. However, there’s even more that comes into play than just a beautifully set living room. Here are some science-backed techniques that may help your clients make a decision when it comes to buying.

Emotions Come First
Though general advice consistently warns against letting emotions get in the way of decisions, psychology studies report that it still happens. Home buying decisions are emotional at their core: Clients are considering whether they can envision a future there. However, these same studies show that the buyers won’t admit to this reasoning. Instead, they want facts to corroborate their feelings. As an agent, use this information to wow clients initially with a warm, welcoming open house, and then further impress them with the reasonable price, new plumbing, or other positive concrete facts that could support a decision to live there.

Less is More
The notorious “analysis paralysis” is, in fact, true. When confronted with too many choices, overwhelmed decision makers freeze up and tend to withdraw from the situation. Don’t let this happen to your clients by inundating them with superfluous information. Only show them listings that you genuinely believe would be a good fit for them. If you show them houses that don’t meet their preferences with the good intention that they might be interested, you may be doing a disservice to both yourself and to your clients.

Outside Opinions Matter
Buying a home may be one of the biggest purchases of your clients’ lives, so they may not want to feel alone in the situation. Since they may be anxious about committing to something so big, it’s important for them to have support from others. Give them time to digest information and discuss it with their partners, family, or friends. Even better, ask a neighbor to attend an open house to answer your clients’ questions as an unbiased third party.

The Price Isn’t Always Right
Homeowners often succumb to the idea that everyone will see their home in the same loving light as they do. However, as the agent you should know that beauty is in the eye of the beholder. Whether you’re advising sellers on a listing, or working with home buyers through a negotiation, keep in mind that most people tend to overestimate their asking price by 5 to 10%.

Keep these things in mind when working with your clients, and you may find selling to be just a bit easier.