Being aware of your own personality style, your client's, and the personality styles of the parties' across the negotiating table can be critical to a successful real estate transaction. In fact, learning about personality styles can be useful in any business, according to speaker and real estate trainer Charlie Krackeler.
Krackeler, who has a background as a real estate practitioner and manager of a large real estate brokerage office, regularly conducts continuing education courses for members of the Silicon Valley Association of REALTORS®. He identifies four distinct personality styles REALTORS® encounter in their business.
First there's the "analytical," who likes order, but is a slow decision maker because the analytical can never get enough information to quickly arrive at a decision. They are thinkers and constantly seek more information. They place barriers around themselves and are not very sociable.
Another personality style is that of the "driver." Drivers hate the thought of wasting time. They work and play in a formal environment. They are not big on small talk, and they don't take long vacations. This personality type is highly organized, formal, businesslike, and is a quick decision maker.
The "expresso" likes to feel good, is spontaneous, and a quick decision maker. However, unlike the driver, the expresso makes decisions based more on emotion rather than information. Curb appeal properties will appeal to expressos, according to Krackeler. Expressos are informal, confident, and like to take long vacations. Also unlike the driver, the expresso will talk about fun things and shoot the breeze with a client before getting down to business. Krackeler says salespersons typically demonstrate this personality style.
The "complacent" is highly emotional and doesn't like conflict. They are slow decision makers because they need to feel right about the decision. They worry a lot and try to make sure everyone feels good. Thus, they make poor managers, says Krackeler. He also notes few sellers fall in this category because this personality type would prefer to live in one place for a long time, rather than face the challenges that come with selling a house and moving.
The styles of the driver and expresso may overlap, but place the analytical and expresso together and they would drive each other crazy, says the real estate trainer. Moreover, having the driver and the complacent work together "would be like placing a piranha in an aquarium. The driver would eat the complacent alive," remarks Krackeler.
You can usually determine an individual's personality style after a five-minute conversation with the person. What should you do if your personality style doesn't match that of the other party in a negotiation? If you can't get over the hump, Krackeler advises it may be best to bring in someone with the same personality type as the person across the negotiating table.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.