Forget what I need and sell me what I want

Regardless of how we rationalize a purchase, the truth is that we're buying goods and services to fulfill something that we want.

You often hear the advice, "features tell, benefits sell", and while this is true, it's a good idea to make sure some of those benefits meet one or more of your real estate needs.

Clients may not realize it, but as a professional I see it all the time. A classic example of this is the "investment property". Quite often, clients try to buy an investment property according to their living preferences, i.e. where they can see themselves living. The logic comes naturally:  "If I want to live here, then everyone else must". By extension of that reasoning, we assume that if a property is desirable to us, then everyone else must want it too. And since all these buyers will want to buy the property, it will get us a high price and therefore it is also a good investment.

It is this emotional involvement that unknowingly makes you buy and sell real estate that otherwise doesn't align with your investment goals. To compound this problem, a "weak" real estate agent may not realize that this is happening, may allow it to happen to make the deal, or worse, simply be too scared to upset you by telling you that you are wrong.

So what can you do? Get the right real estate professional working for you. The other simple thing that you can do yourself is to write down your goals. Just by simply writing your investment objectives and goals, you will prevent yourself from going off into a different direction. When buying or selling a property, it is this document that both you and your REALTOR can refer back to, ensuring that your final objectives are realized. For more information and to receive a free copy of a Buyer's Checklist, send an email to jagdeepsingh@trebnet.com 

Blog Archives

Tags