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.
[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:
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
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.
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.
Who is Todd Bickerton?
Todd Bickerton is a seasoned realtor with nine years of experience in the industry. He has a deep understanding of the psychology of homeowners and homebuyers and uses this knowledge to help his clients find their dream homes.
What is the importance of confidence in real estate?
Confidence plays a crucial role in real estate. As Todd Bickerton mentions in the podcast, a confident realtor can attract clients and make a positive impression, which can lead to successful property transactions.
How does Todd Bickerton understand the needs of his clients?
Todd believes in engaging with each party involved in a property transaction individually. This approach allows him to understand their unique needs and desires. He also uses strategies like showing clients properties they initially dismiss, allowing them to explore and see how it fits their needs over time.
Why is knowledge of the trading area important in real estate?
According to Todd, knowing the area where one is trading in real estate is vital. This knowledge can provide accurate information to clients and help them make informed decisions. For instance, understanding the specifics of a waterfront property, such as water currents and weed presence, can be crucial information for potential buyers.
What is Todd Bickerton's perspective on second homes vs. retirement homes?
Todd estimates that about 20% of the homes he sells are second homes. He enjoys helping clients figure out what they truly want, whether it's a second home or a retirement home, and guiding them to find their dream property.
What does Todd Bickerton enjoy most about being a realtor?
Todd expresses his enjoyment in helping clients find their dream homes. He believes that a realtor's role is not just about selling properties, but also about guiding clients to realize what they truly want. His satisfaction comes from seeing his clients settle into the right home.
Don’t miss this opportunity to transform your real estate career with one-on-one coaching. As an experienced real estate coach, I, Umar Hameed, am dedicated to helping you unlock your full potential and achieve your real estate goals. To learn more about who am I and my clients ↓
If you’re ready to take the next step, book an appointment with me today and begin your journey toward success in the real estate industry.