Emotional Intelligence and the Real Estate Profession

Dr. Brand Bowler and Dr. Andree Swanson, Assistant Professors at Ashford University at the Denver campus, are interested in the relationship between emotional intelligence and real estate professionals.  Bowler and Swanson are conducting a qualitative study to identify the levels of understanding of emotional intelligence (EI) within the field of real estate sales.  Understanding and using EI is a learned behavior that real estate professionals should be aware of when dealing with clients.  Literature reveals that using EI will improve realtors’ efficiency and effectiveness. 

The significance of this study is that a real estate sales professional must maintain the knowledge and skills necessary to provide professionally competent services.  Competence includes the wisdom to recognize the limitations of that knowledge and promote ethical relationships.  Emotional recognition of the client plays a crucial role in understanding the client’s motivation and feelings about his or her finances as related to real estate transactions. 

Emotional awareness is a key component of being an effective real estate sales professional.  Upon preliminary research, little to no literature can be found on emotional intelligence and real estate sales professionals.  Because of the lack of research on the topic, the completion of this proposed study is necessary.

Attention Real Estate Professionals

You are invited to participate in a pilot research study on Emotional Intelligence conducted by Dr. Bowler and Dr. Swanson, Ashford University.  Please go to this link, complete the informed consent, and take the brief survey. (IRB Approved)

https://www.surveymonkey.com/s/GBVGC3Q

If you have any questions, please contact Dr Bowler at brand.bowler@ashford.edu or Dr Swanson at andree.swanson@ashford.edu

Emotional Intelligence and Realtors

Doing a Google search for Goleman’s statement on Emotional Intelligence resulted in finding 2570 sites that had this quote exactly or a variation of it.  McCoy (1997) quoted Goleman as saying, “That IQ contributes 20% to the factors that determine life success, which leaves 80% to other forces, ranging from social class to luck.  People who cannot control their emotions fight inner battles that sabotage their ability for focused work and clear thought” (p. abstract) .  So, what controls the 80% of these other forces?  Kraus (2008) states that “Researchers have found evidence that emotional intelligence as measured by the MSCEIT relates to the personality constructs defined by the Big Five” (p. 4).  Perhaps it is our personality and emotional intelligence, eh?

McCoy (1997) shows that people often become enraged over trivial events.  Goleman calls an emotional hijacking where your emotions take over the entire experience and make a mountain out of a molehill.  Oftentimes real estate decisions are made based on elements out one’s control, such as the economy or the fiscal cliff.  Clients turn to you for answers and may get emotional when considering these items that are beyond their control, thus creating an emotional meltdown or an emotional hijacking.

Kidwell, Hardesty, Murtha and Sheng (2011) discovered the EI definitely relates to a positive performance with real estate agents.  Tasso (2009) discussed a sensitive trust that related to emotional intelligence.  Much like emotional intelligence, the ability to sell is not innate or inherent.  A successful realtor truly understands the needs of the client and the clients themselves.  Drucker (1973) stated, “The aim of marketing is to make selling superfluous. The aim is to know and to understand the customer so well that the product or service fits him/her and sells itself" (Kotler, 1999).  Connect with this knowledge and connect it with the importance of emotional intelligence.  Mayer and Salovey (1997) calls it, "The ability to perceive, integrate, understand and reflectively manage one's own feelings and other people's feelings."

Research shows that there is connection between emotional intelligence and performance.  In future writings, we will delve into what the combination of emotional intelligence is the in the field of real estate.

Author: Dr. Andree Swanson

References

Kidwell, B., Hardesty, D. M., Murtha, B. R., & Sheng, S. (2011). Emotional intelligence in marketing exchanges. Journal of Marketing, 75(1), 78. Retrieved from http://search.proquest.com/docview/853271093?accountid=32521

Mayer, J., & Salovey, P. (1997). What is emotional intelligence? In P. Salovey & D. Sluyter (Eds). Emotional Development and Emotional Intelligence: Implications for Educators (pp. 3-31). New York, NY: Basic Books.

McCoy, B. H. (1997). Emotional intelligence provides key to life success. Real Estate Issues, 22(1), 1-III. Retrieved from http://search.proquest.com/docview/214010223?accountid=32521

Tasso, K. (2009). A professional approach to selling. The Estates Gazette, 97-97. Retrieved from http://search.proquest.com/docview/223770650?accountid=32521