Inman events are the best way to connect. Gain insights and build your network this October at the virtual Inman Connect where we’ll explore the Industry’s Playbook for the Fall Market. Then, join us in January for Inman Connect New York, in person or virtually. Reserve your tickets now, prices will go up! The following post is presented to Select subscribers exclusively.
“Why do people like what they like?”
That’s the question Derek Thompson, a writer for The Atlantic, set out to answer with the audience at Inman Connect Las Vegas.
While writing his book Hit Makers, Thompson uncovered many insights into why people like certain things, and not others.
It turns out people don’t want things to be old but don’t want them to be completely new. Often, almost all of the time, people have a deep preference for the familiar, he explained.
So how is it we get anything new then?
Raymond Loewy, considered the father of industrial design, knew the answer to that question. He is responsible for developing the Most Advanced Yet Acceptable (MAYA) concept.
How does all of this apply to real estate?
Like all things, real estate follows a cycle of what’s desirable, similar to the one followed by fashion.
“To sell something surprising, you have to make it familiar, but to sell something familiar, make it surprising.” Thompson explains, “Have a greater sensitivity towards people’s tastes for novelty. When you’re trying to sell something familiar to people who love new things, you have to sell up that novelty.
Watch the entire session via the video at the top of this post to learn more about why people like what they like and how to use knowledge to sell more.