Why Real Estate Agents Should Care About Buyer Usage Intent
Keller Center Research Report
When selling a home or other product to which they feel emotionally attached, are sellers more likely to demand above-market prices or accept discounted offers? You might guess that they would charge premiums as compensation for parting with a beloved possession that has come to be a part of themselves. Yet, we find that emotionally-attached sellers may in fact accept lower offers than unattached sellers. Why? Simply put, attached sellers want to find a good home for their most cherished possessions and may be willing to sacrifice personal profit to ensure that this objective is met. Ultimately, their willingness to accept an offer can depend on whether they agree or disagree with how the buyer plans to use the product.
Brough, Aaron R. and Mathew S. Isaac (2015), “Why Real Estate Agents Should Care About Buyer Usage Intent,” Keller Center Research Report, 8 (3), 12-16.