Is Psychology Good for Real Estate?

If you're interested in both psychology and real estate, you may be wondering which college degree to pursue. Specifically, you'd like to know, ''Is a psychology degree good for a real estate career?'' Different fields of psychology can offer valuable insights for someone pursuing a career in real estate or actively working in real estate.

A degree in psychology provides a deep understanding of the human mind and motivations. It can also help you develop strong interpersonal skills. With this combination of skills and education, a psychology degree can be a great choice for aspiring realtors.

Read on to learn more about how psychology applies to real estate.

Why Psychology Is Good for Real Estate

A bachelor's degree in psychology can benefit you in many ways as you pursue a real estate business, from helping you develop essential skills to having a stronger understanding of human thoughts, motivations, and behaviors. Let's take a look at some of the reasons why psychology may be good for real estate.

Improved Decision-Making Skills

Real estate professionals need decision-making skills to evaluate the real estate market and help homeowners find their ideal house. A college major in psychology can help you develop these skills, which can help you develop a better reputation once you begin your career in real estate.

Strong Communication Skills

Good communication skills are essential regardless of your career path, but they are especially important in the real estate industry. Realtors must be excellent communicators who explain the ins and outs of home buying to clients and demonstrate their know-how in the industry. Getting a degree in psychology can be a great way to challenge and expand your skills in communication.

Enhanced Comprehension of Ethical Considerations

Anyone selling real estate must have a strong understanding of legal and ethical considerations in the world of real estate. Getting a psychology degree can deepen this understanding, which can help you provide better guidance to clients.

Better Relationship-Building Techniques

As a real estate agent, you want to make a good first impression with potential home sellers and buyers and develop a good working relationship with them. Studying psychology in college can help you learn practical relationship-building techniques and potentially help you find more success in real estate sales.

Deeper Understanding of Consumer Behavior

Finally, getting a psychology degree can help you better understand mental health and human behavior. This education can help you better predict and understand what motivates sellers and buyers so you can cater to their preferences.

Types of Psychology Specializations That Are Good for Real Estate

Psychology is an incredibly broad field, boasting many specializations you can study in college. Let's take a look at the types of psychology that are particularly good for those interested in pursuing a new career in real estate.

Social Psychology

Social psychology focuses on how social situations affect people's behaviors and attitudes. Real estate careers involve a great deal of human interaction, so studying social psychology can help learners better predict behaviors and improve interactions with clients.

Property Psychology

Property psychology examines how owning property affects how people think and act, as well as how they deal with challenges relating to home ownership. It can be a great subspecialty for a real estate broker to explore so they can learn to pair clients with the ideal home or business for their needs and preferences.

Industrial and Organizational Psychology

Industrial psychology and organizational psychology explore psychology in the workplace. It aims to understand principles and practices that lead to success and satisfaction in work environments. If you hope to run your own business in real estate or work with companies and business owners, studying industrial and organizational psychology can help you attain your career goals.

Business Psychology

Business psychology is similar to industrial and organizational psychology in that it relates to behaviors and thought patterns in the workplace. It can be a good subspeciality for real estate professionals who want to work in business administration, entrepreneurship, human resources, property management, or similar fields, as well as for those hoping to start their own real estate business.

Developmental Psychology

Developmental psychology aims to understand how and why people develop as they do throughout their lives. It explores the factors behind growth and change at different stages of life. Since you will be working with people from all walks of life as a real estate agent, studying developmental psychology can help you better understand and predict the needs and preferences of the various clients you come into contact with.

Key Differences Between a Property Psychologist and a Real Estate Agent

If you're interested in both psychology and real estate, you may have come across the term ''property psychologist.'' and wondered what it means. What is a property psychologist, and how does this type of professional differ from a real estate agent?

A property psychologist is a type of psychologist who specializes in property psychology and studies the effects of home ownership. They may also provide therapy to help clients feel more satisfied with their homes and cope with the challenges of owning a home. On the other hand, real estate agents work with clients to help them buy and sell their homes and businesses. They don't provide therapy or conduct research.

Property psychologists commonly spend more time completing their education, potentially pursuing advanced degrees in psychology. They may need to pursue licensure in psychology or counseling to provide services, whereas real estate agents instead obtain a real estate license.