both of those questions. We make mistakes in figuring
out the odds that we’re going to get what we want if we
take certain kinds of action and we make mistakes in
predicting how happy we will be with the consequences
of our decisions if we do indeed get what we want.
But this doesn’t mean people are hopeless. It doesn’t
mean we shouldn’t have goals or make decisions. We
should understand the errors to which human beings are
naturally susceptible. Then, when we make big decisions
in our lives, the best we can do is run through a checklist
of common errors that people make when they are making
decisions like ours. People should stop and ask themselves
honestly if they might be susceptible to the endowment e;ect.
The best remedy for it is second-guessing yourself, but mainly as
decision makers we don’t do it.
How can real estate professionals help their
clients avoid errors of judgment? Any agent or broker
who understands the kinds of cognitive and emotional mistakes
that people are prone to can take steps to ameliorate them. So if
you knew, for example, that people were very likely to exaggerate
the importance of any dimension on which two houses di;er,
you could actually say to them, “I know one house has this and
the other house has that,” but it’s really important for you to ask,
“Just how much do you care about this? It may be looming large
for you only because one has it and the other doesn’t.” Ask your
clients, “What did you really care about before you made the
Regardless of the economy, REALTORS® are
enthusiastic advocates of the American dream of
home ownership. Is there such a thing as being
too optimistic? Human beings on the whole are overly
optimistic. They believe that their future will contain [more]
positive events than their past did, which is generally unrealistic.
The past is the best predictor of the future. So human beings are
known on almost every measure to think that good things are
likely to happen to them more often than they will and that bad
things are likely to happen less often than they will.
You might think of this as a harmless positivity. I mean, who
doesn’t like to wake up in the morning next to Piglet rather than
Eeyore? And in many domains of our lives, it’s perfectly fine.
However, because we think everything is going to be rosy, we
don’t think we need to take any precautions today for what’s
going to happen tomorrow. That’s how our overoptimism can
sometimes be a problem for us.
question of figuring out what
set of strengths you have and
using them in business.
How do introverts
Introverts tend to be more
deliberative. All of us have reward
networks in our brain that get activated at
the prospect of something exciting happening. It could be a new deal
or it could be meeting a new person. Extroverts have stronger reward
networks than introverts do. The advantage they have is that it’s easy
for them to get into this “just-do-it mode” and attack a new project
with great enthusiasm, and that’s wonderful. However, we know
from scientific research that when extroverts get so focused on the
reward, it’s harder for them to see potential downsides or to carefully
consider all the aspects of a problem. That’s easier for introverts, not
because they’re smarter but because they have a di;erent emotional
response toward reward-seeking. They’re seeing the reward, but
they’re also seeing and feeling the other side of the picture, which can
temper their enthusiasm.
What happens when a forceful, talkative agent
encounters introverted clients? As an introvert, I’m
turned o; when I see an agent who takes a very self-promotional
approach to the business. What I love is when I ask a question and
the salesperson takes a moment and answers in a very reflective
way. We shouldn’t assume that all clients want the same thing with
regard to an agent’s personality. You should, of course, try to adopt
your presentations to the perceived style of your clients.
How can people make connections that feel solid
and long-lasting with clients or prospective clients?
Every person you meet has something interesting about them. If
you think of every meeting as a fun and exciting challenge, you’ll
find points of connection. And you need to know how to read people
and think of what they’ll be most receptive to. Many people who are
introverts have an understandable reluctance to reach out. If that’s
you, one key is to do what you’re most uncomfortable with early in
the day. Get it out of the way so it’s not hanging over you. Make a deal
with yourself about how many of those things you’ll do each day. And
when you’re done, you’re done.
Learn more at quietrev.com.
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