When potential buyers see a line of people waiting at one of the location and not at the other, they assume the busy one is superior, and then they follow the crowd.
It is a phenomenon known by many names ‐ pack mentality, peer pressure, following the herd – and it plays an absolutely critical role in selling real estate.
You can make the herd mentality work for you:
The idea is to bring together a group of qualified prospects interested in the same property, thus creating a sense of urgency.
When buyers compete for real estate, almost like in an auction setting, the fear of loss will often compel him or her to buy much faster. Creating urgency creates a competitive environment that helps property sell.
Considering having a launch party?
- Think about hosting in a smaller venue than you might actually need. That way potential buyers will feel the squeeze, both psychologically and physically, when surrounded by a group of people all interested in the same thing.
Remember the perception of scarcity and the fear of loss are powerful motivators in human psychology – use them to your advantage and you will be amazed how a sense of urgency can help you sell in any market conditions
To Learn more about how following the herd, and creating urgency.