The Mental Game – 4 Real Estate Agent Hacks

By |2015-10-08T21:39:24+00:00October 8th, 2015|

Imagine this: you generate new leads and are now tasked with setting up appointments. Looking at your calendar, you consider the location, day, and time for all the property tours. You have openings at 10 a.m., 3 p.m., or 4 p.m. on Monday, Wednesday, and Friday. With many options throughout the week, the question really is – “Which time will my client be able to most enjoy the touring process?”

A recent New York Times Magazine piece on “decision fatigue’ highlights the relationship between mental energy and decision making. Social psychologists study this concept to understand how a series of decisions are made throughout the day. It helps explain why people have meltdowns in front of colleagues and family, skip healthy meals to binge on comfort food, or are sweet-talked into a donation by a clipboard-carrying-humanitarian simply looking to spread a good message.

“No matter how rational and high-minded you try to be, you can’t make decision after decision without paying a biological price.”

But, how does decision fatigue work in the world of real estate? Well, as an agent or broker, you are taught to sell. And not just properties. You have to be charismatic, organic, and friendly so that whoever you interact with feels like they can trust you as a person. Ultimately, you have to sell yourself.

Quite often however, there’s more to the “big win” than the shine in your eyes and the cut of your hair. There are certain biological factors that influence the decision making process.

So heading into your busy workweek, here’s how and when to take control of those factors:

  1. Schedule meetings as early in the day as possible. We suggest between 8-10 a.m. before the day picks up, but after breakfast. Buyers have clear minds when they aren’t worried about picking up their kids, grabbing items at the supermarket, or rushing against the clock to finish a report. There is no chance of them giving you their undivided attention at four in the afternoon when they are running low on fumes.
  1. Attract them with something that is hard to resist. Like a lotto ticket at the front checkout counter, the end of your tour should leave them excited and hopeful of the future. How about starting a conversation of what a spare room could look like? Perhaps offer to negotiate with the seller for a sweeter deal. Or show how their home’s value will appreciate over time. And always suggest other properties to tour in the near future – don’t let them feel like this is the end of the line.
  1. Feed them. The study shows that any intake of food (no matter how delicious) leads to an increase in glucose levels, which helps fuel brainpower and strengthens the will to say yes. Buyers that are on an empty stomach are thinking of three things only – whether to get a burger or salad, if they want a side of fries, or if they should ditch all plans, hit speed dial, and just order a pizza for themselves. Remember, your priority is not just to sell the unit, but also to create an honest and positive experience for the buyer, so that when they do come across what they want, their head isn’t elsewhere.
  1. Generate buyer competition with mobile live streams. Spark interest by creating an environment where buyers and renters can come together, engage with an agent, and create personal video databases of live tours. Hosting open houses through real time tours is a great way to not only eliminate many pressures off yourself but also to breed competition among clients. No future home-owner wants to act late and miss out on their dream home, especially when the competition is staring them right in the face. By placing everyone in a virtual room during a scheduled tour, the mind becomes more attentive and people become more aware of what’s at stake.

And so, as you move forward, creatively employ these real estate hacks to uncloud your buyer’s vision – make the decision making process as simple as possible for them. You will quickly notice the improved difference in deals closed and leads generated by making the most of every touring experience.

Until next time…Keep It Real!

About the Author:

I was fortunate enough to flip my first house the Summer before Senior year in high school and ever since real estate and entrepreneurship have been my passions. I get to live out both of those passions every day by helping real estate professionals from around the world market, advertise, lease, and sell their properties and spaces in new, innovative ways using video.