Friday, June 22, 2018

Role of Emotional Intelligence in Successful Real Estate Investment

Emotional intelligence also called emotional quotient (EQ) is the ability of an individual to understand and manage one’s own emotions in such a way that he can manage tension, develop empathy for others and interact effectively and positively. As much as IQ is essential for a successful life , EQ is also very helps in building relationships with others at workplace school also helps to reduce stress, turning thoughts into actions that are very important in making a career and achieving also helps people to understand what is the emotional condition of other people. Due to this ability of understanding others get motivate to cooperate with the person.

How well a person do in life and career is determined by both. To be able to excel in any field of life, only smartness is not the key. People who are brilliant but in practical life they are socially inept go nowhere in life. Along with smartness, the art of dealing and communicating with society makes a person successful.

There are mainly four attributes of EQ that are:
  • Self-awareness- The ability to tune in to true emotions of a is developed id a person have the ability to recognize his own emotions and is sure about his self-worth.
  • Self-regulation- When a person experiences an emotion he has a little control on it but the length of a negative emotion such as anger stress could be reduced by using techniques like mediation and prayer.
  • Social awareness - It is  the process of developing empathy for includes understanding others emotions, be able to pick up  emotional cues and feel calm socially, and be aware of the power dynamics in a group or organization.
  • Relationship management - To know how to keep good relations, connect clearly, encourage and affect others .how to work well in a team, and manage conflict of opinion or interest.

Why is EQ necessary in real estate?
Some of the most important qualities specific to real estate agents relate to EQ skill. Negotiation skills, likability, trust, sales tactics, and regular, clear communication are all EQ characteristics. Here are some simple tips to remain emotionally intelligent with clients:

Real estate is a people business after all, and a cold agent is always a bad sign for customers. So it is really important for a person to be very empathetic to the buyers or sellers. Since the one who is buying is spending some hard earned money and the one who is selling has previous memories and emotional attachment with the property.

Be friendly but precise
It the nature of this occupation that a person has to be friendly with the customers but that does not mean to go on revealing personal stories and stuff. Be frank and friendly to maintain alight environment but refrain from being too open. Because this can lead to arguments.

Learn from mistakes
Its human nature to make mistakes and its ok to make one in a while. It’s important because it teaches lifelong lessons. In real estate agents with high EQs learn from the past experience and take them seriously. It’s essential to realize what wrong has been done but the most important thing is to learn from it and carry on. Overthinking and get embarrassed over the events that have already passed lead a person nowhere.

Uncertainty of the job
In real estate there are a large number of problems that a person faces. Such as if no one is buying the house for a long period of time or the market takes a dive as soon as the house is listed for sale etc. strong EQ is required for a person to endure such uncertain circumstances.

In real estate there is always pressure on people because of unpredictable hours, inflexible rivalry and an indefinite income. It is necessary to have EQ to keep the emotions in check and make sound decisions.

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