Open AccessA model of real estate and psychological factors in decision-making to buy real estate
Author(s) -
Bojan Grum,
Darja Kobal Grum
Publication year - 2015
Publication title -
urbani izziv
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.275
H-Index - 15
eISSN - 1855-8399
pISSN - 0353-6483
DOI - 10.5379/urbani-izziv-en-2015-26-01-002
Subject(s) - real estate , estate , business , actuarial science , finance
This article explores the psychological characteristics of potential real estate buyers connected with their decision to buy. Through a review of research, it reveals that most studies of psychological factors in the decision to buy real estate have a partial and dispersed orientation, and examine individual factors independently. It appears that the research area is lacking clearly defined models of psychological factors in the decision to buy real estate that would integrally and relationally explain the role of psychological characteristics of real estate buyers and their expectations in relation to a decision to buy. The article identifies two sets of psychological factors, motivational and emotional, determines their interaction with potential buyers’ expectations when deciding to purchase real estate and offers starting points for forming a model