Why People Buy Homes...or Anything Part 1

By
Real Estate Sales Representative

As many of you know, there are many different reasons that people buy homes.  The key to gaining more sales is understanding and identifying these reasons early in the process.

During my time in Real Estate, reading books o' plenty, attending seminars, writing my own books, and basically just studying the way people react to different questions.  I have come to the conclusion that there are 12 basic buying motives.

This will be a 4 Part Post discussing THREE of the 12 Buying Motives in each.

ALL 12 of these reasons are Emotional!!  People Buy on Emotion NOT Logic!!

Buying Emotion 1

Convenience:  This is a Multi-Facet Reason. 

Ex:  How close is the home to work, shopping, recreation, family, etc...

How easy is the microwave or oven to use?  Does the home have a sprinkler system?  Are the cabinets tall to store seasonal items?

Simplicity and Ease of Use are Important to this Buyer.  Pick up on this early on and you can focus your presentation around it.

Buying Emotion 2

Culture: 

Is this buyer interested in being close to Religious Establishments?  Ethnicity? Feng Shui?

Different cultures have different backgrounds, communicate in different ways, and have different meanings for words.  Determine the cultural needs of this buyer and communicate and demonstrate in this manner.

Buying Emotion 3

Recreation:

Do they like to run, bike, swim, play sports, walk?  Does the community have an amenity center, walking trails, pool, etc?  Is there a local gym?

This buyer has a keen interest in living near the items they enjoy doing.  Figure this out early and it will save you time later.

Understand that of the 12 factors that I will outline, sometimes multiple items are the key emotional factors.  Every buying decision of every product can be traced back to one of the 12 items I will outline, whether it is a 25 cent pencil or a $50,000 car.

Curt Fletcher aka The Likeability Guy

Author of How To Sell More Homes and Increase Your Income

 

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Show All Comments
Rainer
2,973
Josh Austin
Corona Real Estate - Star, ID
Unlocking the buying key is very important.  Thanks for your thoughts.
Dec 30, 2007 08:45 PM #1
Rainer
21,434
Iriana Shiyan
Iriana Shiyan - Tacoma, WA

Are you writing book or you already wrote it? Emotions are very important, because they dictate to our nervous system what to do. I am from Europe and I am not always sure what makes person from Tacoma buy or not to buy. But I have a great time with everyone from Europe.

Dec 30, 2007 09:25 PM #2
Rainmaker
281,425
Mark Horan
Resident Team Realty, LLC & Toni's Property Management LLC - Saint Cloud, FL
"The Resident Chef" - Resident Team Realty LLC &
Curt- I have never bought on emotion. Even before I became licensed. Sure location had something to do with it, but the home was always purchased with the investment cap on. Factor 13, no emotion.
Dec 31, 2007 12:51 AM #3
Rainer
15,602
Curt Fletcher
Fort Worth, TX
aka "The Likeability Guy"
Josh,  Thank you for the comment!
Dec 31, 2007 10:00 AM #4
Rainer
15,602
Curt Fletcher
Fort Worth, TX
aka "The Likeability Guy"
Irina,  I already wrote one book that is published, "How To Sell More Homes and Increase Your Income."  You are exactly right, people justify a purchase with logic, but not before they are in some way emotionally impacted.  That's neat that you are from Europe, you can provide people with a whole different perspective on things I would imagine.  Thanks for the comments!
Dec 31, 2007 10:02 AM #5
Rainer
15,602
Curt Fletcher
Fort Worth, TX
aka "The Likeability Guy"

Mark,  You kind of jumped the gun on me a bit, but investment is actually one of the strongest emotional buying motives there is.  I will outline it in Part 2.  This buyer is focused on long-term equity.  Why do people make investments?

1)  Create a more comfortable lifestyle later in life.

2)  Generate more income.  Why do you need income?  To live a more comfortable life, help others, etc. 

I am certain that if you broke down the reason that you invest, it will tie back directly to convenience, family, security...

Also, when you made the investment, if it was real estate, you most defintely factored in probably 3-4 of the other emtional buying motives to create a solid investment.

 

Dec 31, 2007 10:10 AM #6
Rainer
194,096
Elizabeth Nieves
The Elizabeth Nieves Realty Group - Durham, NC
Bilingual Raleigh - Durham North Carolina Real Estate Team
CURT:  This is good stuff...and absolutely true! I'm looking forward to the other parts of the series. HAPPY NEW YEAR, MY FRIEND!!
Dec 31, 2007 07:54 PM #7
Rainer
15,602
Curt Fletcher
Fort Worth, TX
aka "The Likeability Guy"
Thanks Elizabeth.  Been away from the computer for a few days.  Happy New Year to you as well!!!
Jan 02, 2008 07:22 PM #8
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Curt Fletcher

aka "The Likeability Guy"
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