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Takeaways:

  • People end up in a situation based on accident.
  • Ask people questions, but not too many to complicate the situation.
  • Showing the effort that goes into an end result helps the buyer have more respect for the process.

SAN FRANCISCO — Professor of psychology and behavioral economics Dan Ariely spoke to the Inman Connect San Francisco crowd about how to dig a little deeper into the psyche of homebuyers.

Give people an active choice: Oftentimes, people end up in a situation by accident, and there is little to no motivation to get out of it. When people are given an active choice — one in which they must make a decision — they are more apt to take advantage of a change.

Don’t overwhelm buyers with options and questions: Asking homebuyers what their top three must-haves for a home are may prove more significant than asking them the top 10. More options can create more chaos and overcomplicate the situation.

If you give a little more, buyers will feel better: Quality is key to the buyer’s willingness to pay for a service. Price is obviously a major component of a consumer’s decision, but when giving the option to get a higher-quality service, people often jump on the opportunity despite price.

Conveying the amount of effort put into a transaction can go a long way: Buyers may see 10 homes out of the 200 that you sifted through to find the perfect fit for their needs. Showing the details of everything that goes on in the background builds more appreciation for the process.

Don’t just base processes on your personal experience: Personal experience is a huge part of why people do things the way they do them, but it’s important to think of it from a different perspective.

Email Kimberly Manning.

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