Do you think there is room for emotions in a real estate transaction? Some people think that adding emotions to real estate could be a formula for disaster, but I totally disagree. Emotions are the core of real estate, without them, transactions would be equal to buying a gallon of milk at the grocery store. How can you ignore those feelings of elation when you walk into a home that you absolutely love? There’s a certain rush of adrenaline and excitement you get when you start to imagine yourself living there.

Controlling your emotions
As Realtors in Miami, we deal with customer emotions daily, and we help people identify the reasons they feel good about a property, as well as help them negotiate the right price for that property. We must always keep their emotions in mind.

Take for example this couple I was working with not to long ago. After three weeks of looking at properties, they fell in love with a house in Miami Shores. I did a price analysis and they decided to place an offer. The sellers were not very flexible and made a ridiculous counter offer, which made the experience unpleasant. As a result, my clients decided to pull away from the transaction. Two weeks later, I received a call from the seller’s agent saying the sellers would now consider our customers original offer. The whole experience had been so negative that they decided not to entertain it.

This example teaches us two lessons. One lesson is for buyers: Let your emotions flow when looking for and finding a property — but don’t let your emotions get in the way when negotiating. The second lesson is for the seller. You should always try be careful with how you counter an offer, because you may turn people away and lose out on great opportunities.

Read between the emotions
In today’s buyers market, it is of the utmost importance to be able to identify serious buyers and to be able to negotiate and make deals happen. Knowing that people are emotional by nature is crucial. Working with the right real estate professional is even more important. One that can guide you and lets you know when emotions are appropriate and when they are getting in the way.

The real estate market is going through a rough patch (this should not be news to anyone), which means understanding the process and the in-and-outs of emotions involved is crucial for a successful transaction. Make sure you work with a Realtor that has your best interest in mind and understands the emotional side of real estate.

Ines Hegedus-Garcia