Real estate can be a great career, but it is not as easy as it looks to become successful. In my last article I talked about the reasons why you should become a real estate agent. Before I get into the reasons of why you shouldn’t become a realtor I want to go over the reasons why you should. First and foremost, the harder you work the more money you are going to make. Not only can you make a lot of money but there is no limit to how much money you can make. Another reason why you should become a real estate agent is that you can create your own schedule. With a flexible schedule you are able to sleep in when you need to, and go home to watch a basketball game during March Madness. I will get to the reasons why a flexible schedule is not always good a little later. One final reason that you should become a real estate agent is because you can have a major impact on a lot of people.

If you like meeting the needs of your peers then this may be the right profession for you. However, before you decide to jump right in, let me explain to you the reasons why you should think twice about becoming a realtor.

The main reason why you should stay away from real estate is because it is usually based solely on commission. That means that if you don’t sell anything, you don’t make anything. I was naïve when getting into the real estate profession about how expensive it was. I did not realize there were realtor fees every year, nor was I aware of how expensive it was to get a license. You also need to consider the amount of money you will spend in technology. For example you are going to want a good computer that you can bring with you at all times. Also, your cell phone bill is going to be higher than you wanted because people will be contacting you at all times. Really the most expensive part of real estate is the advertising. There are many different methods for advertising but they all seem to be expensive. Just letting all your friends and family know that you are in the business is expensive. If you are looking for a steady pay check, this is not the profession to get into.

There are always going to be great times and at times it will be terrible. However, the longer you work in real estate the more likely you will see a consistency in pay checks.
The second reason you should stay out of real estate is because of the amount of time you need to work to become successful. Not only will you be working a lot, but you will also work Saturdays and even Sundays to do open houses. You need to let your family know that you are not always going to be able to have dinner with them, because often times you are asked to show homes in the evenings once your clients have finished their work day. Now you do have the ability to say no on a showing or two, but it is hard to pass up when you know how much money can be on the line.

The third reason is that it can be very uncomfortable. Real estate requires a lot of prospecting which means you will need to leave your comfort zone. How willing are you going to be to knock on the next door, when the last person you met laughed at you? I have been laughed at more than once while going door to door and it can be very humbling. Are you willing to call For Sale By Owners? Do you have the drive to stand in front of a crowd to deliver a presentation about your company? I am not the most outgoing person, but to be successful in this challenging business you need to get your self out there, and understand that they are often saying no to what you are selling and not to you personally.

I believe that real estate can be a fun and exciting career. I can not imagine going back to an 8:00am-5:00am job because I have too much fun in this profession. However, before you jump into real estate please consider what you are getting your self into.

By Luke Bouman

Consumer behavior is defined by Engel, Blackwood and Kellat as “those acts of individuals directly involved in obtaining and using economic goods and services, including the decision processes that precede and determine these acts.”

Consumer behavior is influenced by the behavioral sciences namely psychology and sociology.

Psychology impinges upon perception, learning, personality, motivation and attitude.

Sociology influences the social background of each consumer. Hence consumer behavior is influenced by culture, social class, reference groups, role and family influence which in summary influences, the life style of a people therefore explaining how and why people consume which illustrate how the psychological and sociological foundations have been built upon by marketers.

Psychology

1. Perception: that is how people interpret a stimulus. What we perceive at any given time, will depend not only on the nature of the actual stimulus, but also on the background or setting in which it exists – our own previous sensory experiences, our feeling of the moment and general prejudices, desires attitudes and goals.

Given the fact that so many forces influence perception it is not surprising that there should frequently occur a mismatch between the interpretation intended by the originator (in the case the marketer) and the receiver (intended customer). It follows that those responsible for marketing stimuli should pay very careful attention to psychological findings concerning how people perceive things.

In recent years marketers have made considerable use of psychological explanations of perception in developing their communications strategies and have developed a number of specific applications of their own.

2. Learning: In consumer behavior the basic theory of learning, that is, the stimulus – response) S – R) theory suggests that we learn to associate given responses to specific stimuli and these become habitual.

The conjunctive theory of learning argues that what is learned is conjunctive that is more broadly based. In a marketing content there seems to be support for both theories in that some consumer behavior is more routine and habitual (S – R), while other purchasing decisions are subject to extensive problem – solving generalizing from part experience (marketing school).

It is important to note that two important areas of research in marketing draw heavily upon learning theory in their conceptual framework namely the study of advertising effectiveness and brand loyalty.

3. Motivation:

Abraham Maslow (‘A Theory of Human Motivation’) proposed a classification of human needs into five basic needs.

These can be placed into a hierarchy such that as lower – order needs are satisfied we lose interest in them and concentrate upon satisfying needs at the next higher level which have become more pressing. Five steps in the Hierarchy in ascending order are:

1. Physiological needs – basic needs for food, shelter, clothing.

2. Safety needs – physical security insurance etc.

2. Love needs – need for affection, feeling of belonging to a group – family solid group, work group etc.

It is important to note that much marketing activity seeks to cater for these need some approaches most criticized by anti-marketers. For example, advertising which suggests that failure to use a product (toothpaste, shampoo etc) will lead to exclusion from a group you aspire to join.

4. Esteem needs – this includes the need for recognition, status, prestige, reputation etc.

5. Self Actualization – the highest level of need to “do one’s own thing’.

4. Personality:

Definition: “The configuration of individual characteristic and ways of behaving which determine an individual’s unique adjustment to his environment. This definition suggests that an overall consistency is an individual’s pattern of behavior it is possible to categorize dominant traits and develop a classification of personality types which will be useful to marketers, as it enables them to use personality as a factor in developing marketing strategies and marketing to suit them.

Cultural Value

a) Income

The salaries of consumers determine what they can afford in terms of pricing and the quality of goods. In other words, income is a major determinant of demand which is very important in arriving at marketing decisions.

b) Social Class

Social class represents a stratification of society usually three distinct social classes can be identified in Jamaica. There are lower class, middle class and upper class.

Each social class is associated with certain life styles, shopping behavior, language pattern, and so on. The upper class will tend to spend more on luxury items while the lower class will spend on basic necessities.

In marketing therefore, goods and services are produced according to certain specifications depending on whether or not they are being made to suit the upper, middle or lower class.

c) Government Regulations

All manufacturers of goods and services are required to make their products in accordance with government regulations. This means that products must be inspected and passed by statutory government bodies for example, the Bureau of Standards.

Government is a consumer of goods and services because they are also buyers of goods and services for hospitals, schools, police to military, and so on.

d) Financial Climate

The financial climate of the economy grossly impacts upon manufacturers’ activities.

If there is a lack of money in the society, then manufacturers will find it difficult to produce the goods and services required by the consumer. This is the task of the government therefore to try and maintain a stable economy in order to facilitate production.

Colin Scott is a Jamaica real estate and property expert. For more hints and tips on commercial properties in Negril Jamaica and houses for sale in Negril Jamaica visit this Author’s websites.

By Colin Scott