Moving is listed as one of the top three most stressful life events. As one of the largest financial transactions in life, it can be hard to remove the emotion from the transaction.
Neuroscientists have determined that emotions such as love, vanity, and pride can play a central role in this entire process. The way we feel can help determine what decisions we make and why. Part of the role of a Realtor is to help your clients navigate the big emotions that come along with buying or selling, whether it be love or hate.
While emotions will always play a part, rational decisions must also factor in. Realtors work hard to balance both the emotional and rational thought processes. We know that when making rational decisions, we often consider things like profit, security, and health. Rational purchases require extensive research based on concrete information like property dimensions, home inspections, and pre-qualification that can help to manage and mitigate emotional responses.
In 2020, NAR did a survey of homebuyers to determine which features they found most helpful when doing real estate research. This survey gives us insight into the areas where emotion and rationale meet. Further, it gives insight into the tools that may help your clients focus on the rational side of the transaction.