How to Understand the Psychology of Homeowners

On Episode 247 of The No Limits Selling Podcast, we have Todd Bickerton, Broker at Sotheby's International Realty Canada. A native of the riverfront community of Gananoque, Todd spent 18 years as a nationwide sales representative and Vice President for the family’s brokerage business until pursuing his passion for real estate. In this episode, Todd shares with us how to understand the psychology of homeowners.

He is intimately familiar with the renowned 1000 Islands region of the majestic St. Lawrence River and her glacial scape of pitch pine and pink granite. In his opinion, there is no more an ideal location in which to raise a family or relax in retirement.

Contact Todd:

• Website
• LinkedIn
• Instagram

[EDITOR’S NOTE: This podcast is sponsored by No Limits Selling. It is a fun, fast-paced podcast that delivers hard-fought business advice that you can implement today to improve your sales and performance]

Interested In Our Real Estate Coaching Services? Explore Our Website: Link

Feeling Not Well Today? You Can Use Our Mindset Boosters App To amp Up Your Mood: Link

Find us on Social Media:  

LinkedIn | Facebook community | Instagram

Like what do you listen to? Subscribe to our podcast!

Ready to become fearless? We can help you become fearless in 60 days so you accomplish more in your career Schedule A 15 min Call with Umar 

Summary

Introduction and Background

The podcast begins with the host, Umar Hameed, introducing Todd Bickerton, a realtor with nine years of experience. The conversation starts with a discussion about confidence and its importance in various aspects of life. Umar shares an anecdote from a book by Donna Karen, emphasizing how confidence can make a person attractive regardless of physical appearance.

Psychology of Homeowners and Homebuyers

The conversation then shifts to the psychology of homeowners and homebuyers. Todd shares that it's often a complex process due to the involvement of multiple parties, such as spouses, parents, and sometimes children. He shares an example of how he had to play the role of a psychiatrist to understand what each party truly wanted, what is their meaning of financial success, and to bring everyone on the same page. He mentions that it's easier to understand individual preferences when he talks to each person separately, as people tend not to reveal the absolute truth when in a group.

Understanding Client Needs

Todd shares his strategy for understanding the psychology of homeowners or homebuyers i.e. what his clients truly want. He mentions that he often shows properties to clients even if they initially dismiss them. He believes that giving clients time to explore a property and see how it fits their needs can change their perspective. He also suggests bringing children during a second visit to see how they react to the property, as this can provide valuable insights.

Knowledge of the Area

Todd emphasizes the importance of knowing the area where you're trading in real estate. He mentions that he doesn't venture too far out of his general trading area because he may not know enough about other areas. He believes that knowing the ins and outs of an area, such as the water currents and weed presence in a waterfront property, can help in providing accurate information to clients.

Second Homes vs. Retirement Homes

When asked about the percentage of homes he sells that are second homes versus retirement homes, Todd estimates that about 20% are second homes. He shares that he enjoys getting inside the heads of his clients, figuring out what they want, and finally settling them into the right home.

Conclusion

In this podcast, Todd Bickerton, a seasoned realtor, shares his insights on the importance of understanding the psychology of homeowners and homebuyers. He emphasizes the need for realtors to engage with each party involved in a property transaction individually to truly understand their needs and desires. Todd also highlights the significance of knowing the area where one is trading in real estate, as this knowledge can provide accurate information to clients and help them make informed decisions.

He shares his strategy of showing clients properties they initially dismiss, allowing them to explore and see how it fits their needs over time. The podcast concludes with Todd expressing his enjoyment in helping clients find their dream homes, emphasizing that a realtor's role is not just about selling properties, but also about guiding clients to realize what they truly want.