What Do a Drill Bit and Your Home Search Have in Common?

Robert Mack Group Real Estate Podcast

Buying a drill bit and buying a home have more in common than you think. Let me explain why.

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Recently, a Harvard researcher studied consumers who were in the market to buy a drill bit. Ultimately, the study led to a curious discovery: In large part, it wasn’t the drill bit that drew these people to the market; it was the drill bit’s utility.
They simply needed something to make a hole in the wall, and the purpose of that hole was to hang a shelf. The study went on to say that it was about much more than the shelf for these consumers.
This researcher concluded that the installation of a shelf brought about a greater sense of accomplishment, pride, and general tidiness in their living space.
In the same way, we as real estate professionals have to probe a little deeper sometimes when our buyers give us a laundry list of amenities and details that are must-haves in their future home purchase. Perhaps they want the home to come with three bedrooms, a garage, and a lot of a certain size.

On a deeper level, a buyer wants the home’s features to collectively generate a feeling of accomplishment and pride.

For us, though, it begs the question: Why do you want all of that? And more importantly, why do you want a home?
After some digging, we learn that, much like the consumer in search of a drill bit, it’s about much more than the reasons that particular buyer gives. We discover that it’s less about the individual features themselves and more about what those features will provide for them.
On a deeper level, a buyer wants the home’s features to collectively generate a feeling of accomplishment and pride. All in all, a major part of the home search process is to enter it with the "bigger picture" in mind.
If you’re thinking about buying a home and you want to get the process in motion, please reach out to me and my team. I’d also love to hear your suggestions for future video topics I should cover. In the meantime, happy selling!