The emotional side of the property market

Feb 19, 2018 8:00:00 AM

The property market is often overshadowed by the investment intentions of sellers and buyers, forgetting the emotional aspect of purchasing a home for you and your family. The nostalgia many of us carry with us about our childhood home is often a major factor when buyers gravitate toward a suburb or particular home.

Jerry M. Burger, Ph.D.,a professor of psychology at Santa Clara University in the US, explains in his book -  Returning Home: Reconnecting with Our Childhoods, that "one's home is a part of personal identity for many people; i.e., an extension of their self. And it is during these early years that children develop a sense of self independent of their families. Homes also are almost always the place where children spend the largest part of their time, as well as the location for many of their most emotional experiences."

He further identifies that he was surprised by the depth of emotion many people feel for their childhood home. It is with this being said that it is incredibly important for property professionals to take these emotional elements into consideration when taking part in a financial transaction. 

We at Harcourts experience these sentiments on a daily basis, from both sellers and buyers. Sellers saying goodbye to a member of the family in a way and buyers yearning for a nest where all their dreams become a reality.

This is why a certain amount of finesse and understanding needs to take place. Despite the obvious large investment aspect and stress buying a home can bring upon, the human factor is a big part of it.

We believe that the true craft is the ability to combine all these facets, sound investment advice, in-depth market knowledge as well as the emotional aspects of the process.

At Harcourts our foundation is our Values system. An ethos we live by. A Mantra that ties us to our clients by building relationships, in order to understand the depth of the purchase.

 
Statement by
Richard Gray

Harcourts Africa Chief Executive Officer

Topics: Harcourts South Africa, Tips for Agents, Property Markets