Estate Agents: If youโre fighting overvaluations with logic alone, youโre wasting your breath.
Harvard research shows that in 19 out of 20 decisions, emotions decide firstโlogic justifies later.
Yet, so many agents go straight in with data, graphs, and โmarket evidenceโ when a homeownerโs already fallen in love with a bigger number.
Instead, you need to help them feel the pain of overvaluing before they experience it firsthand.
Try this:
"Last year, we met a homeowner in [local area]. Their house was worth around ยฃ400,000, but an agent promised them ยฃ450,000. Excited by the idea, they listed highโand sat on the market for months. When they finally adjusted the price, buyers saw a home that had been hanging around and assumed there was something wrong with it. In the end, they sold for ยฃ380,000โless than they would have got if theyโd priced it right from day one. Worse still? They lost the home they really wanted because of the delay."
Thatโs the kind of story that makes a homeowner feel the risk before they become the next example.
Only once they connect emotionally can you bring in the logic.
So, the next time youโre against an overvaluation, donโt start with numbers.
Start with a story.
Then back it up with data.
Whatโs been your toughest battle against an overvaluation?
Drop your thoughts below.