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Sign into your accountReal Estate Transactions Are Now on Top of the Stress List
November 18 2015
It may or may not come as a surprise to most real estate professionals that it is now public knowledge that—with respect to stress—participation in a real estate transaction is now on par with death, terminal disease, divorce, airline travel and computer repair.
An article published in the October 2015 edition of the Harvard Business Journal by Leonard L. Berry from Texas A&M University and Scott Davis from Rice University reports that services such as cancer care, airline travel, computer repair and home buying and selling can trigger powerful human emotions. Even more surprising is the fact that the vast majority of the entities and individuals delivering these services are not sensitive to the level of stress their consumer experience generates. Nor are they provided with the training necessary to either demonstrate sensitivity or reduce the amount of stress their performance is largely responsible for.
By this point, some readers will be rolling their eyes and not so subtly pointing out: Hey, what's new? This is the way it has always been, this is the way it will always be and, as a hyper busy real estate professional, I can't be responsible for the client's mental health. Buck up, consumers!
While there may be no lack of support for this macho position, hopefully there will be a few souls who will want to better understand the big picture, because there is one. Let's start with a few facts. First, this is not our parents' real estate marketplace. A strong argument can be made to support the idea that, as a market, we are in the last vestiges of that era in which real estate agents and sales representatives have the absolute power to design and deliver the consumer real estate experience. From a consumer and regulatory perspective, we are now in an new era in which the only thing that matters is what experience the real estate consumer gains from their buying, selling and transactional experience and how they can customize that experience to make it a positive one.