Hooked on a feeling: 4 vital ways emotion influences real estate

Why relying solely on numbers is a missed opportunity
  • While data is helpful when buying or selling properties, real estate professionals cannot ignore the x-factor of human emotion.
  • Because there is no search function for humanity on any real estate website, agents bring real value to the real estate process via human connection.
  • Unlike big tech companies, real estate brokerages have not yet harnessed human emotion into profitability.
  • Combining data-driven metrics and emotional intelligence will help agents close more deals and lead to happier clients.

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There is so much chatter in the real estate industry today about data-driven metrics: price appreciation, year-over-year sales volume, absorption rates and so on. I understand that this information is helpful to agents and their clients when it comes to buying or selling their properties, but relying solely on numbers is a missed opportunity. There is a certain x-factor that real estate professionals cannot ignore -- and that is the element of human emotion. Believe it or not (and you should believe it for the sake of your business!), real estate is probably the most important emotional asset class in the world. Whether it’s a luxury chateau or a modest one-bedroom, there is a reason the saying “home is where the heart is” resonates with so many. You can’t search a feeling Go to any real estate website in the country and you’d be hard-pressed to find a search option that allows for emotion. You can’t enter “nostalgia” or “childhood memories” or “romant...