5 psychological factors that help sell a property
Developing a keen understanding of human psychology is essential for any type of sales and marketing — whether it’s cars from Ford or chicken from KFC.
And larger investments require a proportionate understanding of what makes customers tick — so it’s crucial for successful property sales.
With that in mind, here are five psychological factors that help sell a property.
- The primacy effect
First impressions last — that’s why supermarkets keep their toilet tissue at the back of the store and their fresh fruit near the front.
And the primacy effect applies to making properties look legendary too — so tidy up front lawns and pathways, paint the front door in an attractive shade and invest in neat door mats from a trusted supplier.
If the front of a property looks attractive, you might have a sale practically secured before the buyer sets foot inside.
- Storytelling
Buyers are partly influenced by practical factors like a home’s technical specifications, sales history and resale potential.
But they’re also interested in connecting emotionally with a property — so if there’s a romantic or historically significant story connected with the real estate, be sure to share it at the right moment.
You can even unearth an interesting story about a newer property that might involve its previous owners or surrounding landmarks.
- Lifestyle
If a potential buyer has specified a search according to certain criteria like the proximity to woodland, a golf course or a beach, you can have a fairly accurate guess that these factors play a significant role in their lifestyle.
So don’t forget to promote the amenities, entertainment, bars, restaurants and schools in the vicinity as well as the property itself — positive reviews from TripAdvisor will provide you with backup.
If you don’t sell the neighbourhood alongside the home, your deal might fall flat.
- Cultural awareness
If you’re operating in a multicultural market, it’s very important to be aware of ingrained cultural factors that could make a property that’s seemingly perfect seem unattractive to certain clients.
Some western clients won’t be convinced to buy a property with a certain number — but other cultures might regard proximity to certain geographical features as positive or negative.
So doing your homework prior to making a recommendation will allow you to steer clear of properties that there’s no chance of selling and wasting crucial time on no-go properties.
- Emotional connection
It’s often emotion rather than logic that finally seals the deal on a property purchase.
This Realtor Magazine buyer’s questionnaire can help you identify a handful of non-negotiable features that each property should have in order for potential purchasers to take it to their hearts.
Nailing two or three aesthetic features that really appeal to your leads can be very persuasive — even if the technical features aren’t a perfect match.
These five psychological factors will help you shift any property in your portfolio — implement them today and boost your commission.
Do you use psychological tactics to influence sales? Share your advice in the comments section.
You May Also Enjoy
Latest developments in Renters’ Rights Bill: What landlords need to know
What Will Commonhold Mean for Property Managers?
Think You Know Mortgages? These 5 Myths Could Be Costing You Money
Just 17% of homes selling for more than £500k
Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax
