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Research Report

March 2019

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Keller Center Research Report - March 2019 (1.4 MB)
Implementing Humor in Real Estate Transactions
Lussier, Bruno; Gregoire, Yany; Vachon, Marc-Antoine

Bruno Lussier, PhD, Yany Grégoire, PhD, and Marc-Antoine Vachon, PhD Using humor wisely is known to have many benefits in the workplace. In this article, we examine the influence of salesperson humor usage on salesperson creativity, customer trust, and sales performance within the context of a salesperson-customer relationship.

Customer Relations
Trouble in Paradise: How Working at Home May Negatively Affect Spouse's Work Productivity
Whitten, Dwayne; Boswell, Wendy; Thompson, Merideth J.; Crawford, Wayne S.; Carlson, Dawn S.

It's not unusual to put in a 60-80 work week, with many of those hours worked at home after hours. But have you considered how your working from home may affect your spouse's work productivity?

Technology
INSIDER: UnSelling
Price, Jackson

Jackson Price, MBA Candidate According to Scott Stratten and Alison Kramer, authors of Unselling, sixty percent of all purchase decisions are now made before you ever get a chance to share your pitch. In short, the majority of your potential clients have already decided on a real estate agent or firm before they even know they need one.

Marketing and Sales, Insider, Lead Generation
Sharing Market Intelligence Among Salespeople
Hall, Zachary R.; Mullins, Ryan R.; Boichuk, Jeffrey; Syam, Niladri

Zachary R. Hall, PhD, Ryan R. Mullins, PhD, Niladri Syam, PhD, and Jeffrey P. Boichuk, PhD Understanding the changing dynamics of customers and competitors in your market is a cornerstone for maintained success. This information, known as market intelligence, helps improve decision-making, especially in real estate. But how do we utilize it in an agency context to bolster sales?

Management, Marketing and Sales, Technology
Predict, Don't Project
David, Meredith E.

Meredith E. David, PhD In real estate, the ability to connect with and build successful relationships with a client is based on the ability to predict a client’s preferences. However, there is a difference between predicting preferences and social projection, which could lead to misinterpretations of your own preferences as those of a client.

Marketing and Sales, Customer Relations
What are Likes Worth? A Facebook Field Experiment
Mochon, Daniel; Johnson, Karen; Schwartz, Janet; Ariely, Dan

In the growing social media marketing landscape, interacting with customers on Facebook is at the forefront of businesses’ higher spending, but are your Facebook page likes actually driving client engagement and spending?

Marketing and Sales, Social Media, Lead Generation
INSIDER: Sales Insanity
Trevino, Jorge

As a sales person, you must always be ready to embrace the challenges that the selling environment poses in your professional life. In Sales Insanity, Cannon Thomas recounts unique sales blunders which highlight the importance of adapting to the ever-changing sales environment.

Marketing and Sales, Insider
Salesperson Ambidexterity and Customer Satisfaction
Jaramillo, Fernando; Agnihotri, Raj; Krush, Michael; Gabler, Colin B.; Itani, Omar S.

To remain competitive, salespeople must provide excellent service while still reaching their sales quotas. When these two ideas converge, sales-service ambidexterity is achieved. But how can sales managers encourage their sales associates to reach this medium?

Management, Customer Relations
Boundary Conditions of Ethical Leadership: Stress as a Potential Inhibitor
Hunter, Emily M.; Perry, Sara Jansen; Quade, Matthew J.

In this article, we study the relationship between ethical leadership and employee deviance and turnover intentions, considering the role of hindrance stress from the leader and the job. Our findings show that ethical leaders who also impose additional demands are perceived to miss the mark in providing proper social support are likely to have deviant or withdrawing employees.

Management, Ethics
INSIDER: When—The Scientific Secrets of Perfect Timing
Ratliff, Clint

In his book, When—The Scientific Secrets of Perfect Timing, Daniel H. Pink reaffirms the idea that “timing is everything” through anecdotal discourse and scientific research to impart a better understanding of how to find your perfect timing.

Insider
The Influence of Political Skill on Sales Outcomes
Li, Jie; Sun, Gong; Cheng, Zhiming

It is widely recognized that political skill enables employees to secure valuable resources within their own companies and to promote positive outcomes with customers. In this article, we examine the effect of political skill in the sales context and draw conclusions for real estate professionals.

Management, Customer Relations
Pricing Strategies: The Difference of a Digit
Tu, Lingjiang Lora; Pullig, Chris

In real estate, it is universally agreed that strategic pricing plays a huge role in determining how quickly a house will sell; yet there are still questions on how pricing affects different people.

Financials, Marketing and Sales
Maximizing Your Social Media Marketing
Pettit, Kevin

A strong social media presence is critical to cultivate relationships with potential clients and build credibility in the public eye. Effective use of social media platforms will help convert views into sales, retain those clients over long periods of time, and build a lasting business.

Social Media, Marketing and Sales
Strategic Personal Branding—And How It Pays Off
Rangarajan, Deva; Gelb, Betsy D.; Vandaveer, Amy

A well-defined and consistent personal brand can elevate agent recognition, generate leads, and build authority and credibility. It can also help agents develop a unique value proposition, identify target customers, and humanize marketing campaigns. Does your personal brand communicate the right message?

Marketing and Sales
Judging a Book by Its... Online Reviews?
Zarolia, Pareezad; McRae, Kateri

In the simplest of transactions, the exchange of goods and services between a buyer and a seller develops a relationship that is dependent on trust. This study examines how direct and indirect impressions influence the development of trust in social relationships.

Marketing and Sales, Social Media, Customer Relations
Why People Like Where They Live
Lyon, Larry; Driskell, Robyn; Fitz-Chapman, Brittany M.

Community and individual-level factors affect the satisfaction a person derives from living in his or her community. How do we determine if a community is meeting the needs of the person, and how do we better prepare our communities, moving forward, to appeal to potential homeowners?

Customer Relations, Lead Generation
INSIDER: Sales EQ
Pettit, Kevin

In Sales EQ, Jeb Blount explains that the emotional experience of buying is more important than any product, price, or feature. To be an effective sales person, it is necessary to approach people the way they buy rather than the way you sell, which requires high emotional intelligence and knowledge of how people make decisions.

Customer Relations, Insider
Valuable Virality
Berger, Jonah; Akpinar, Ezgi

Viral ad campaigns have become a necessity in the digital world. Our research examines the key factors driving valuable virality and shows how the sharing of an ad and brand evaluation of a product are dependent on ad content.

Marketing and Sales, Social Media
Gratitude in Buyer-Seller Relationships
Folse, Judith Anne Garretson; Jones, Eli; Mangus, Stephanie M.; Bock, Dora E.

Gratitude has immense value to firms and is linked to increases in share of wallet, sales revenue, sales growth, and customer commitment. Our research shows how sales professionals can improve their relational outcomes with customers by fostering more grateful customers through their own expressions of gratitude.

Customer Relations, Service
INSIDER: Why Women Buy
Harris, Courtney

Research shows that women account for 85 percent of all consumer purchases and have $7 trillion in buying power. In Why Women Buy, Dawn Jones shares insights to provide sales professionals with a relevant and detailed guidebook for improving results with and meeting the needs of this powerful market.

Customer Relations, Insider
Networking Benefits for Real Estate Professionals: Men and Women are Different
Macintosh, Gerrard; Krush, Michael

Research shows that men and women network differently and benefit differently from networking. In our research, we examine different types of networking benefits for female and male real estate professionals which allows us to offer suggestions for more effective networking.

Management
INSIDER: The Multigenerational Sales Team
Ratliff, Clint

Buyer and seller markets are now comprised of multiple generations that not only see the world differently, but also value vastly different lifestyles. While the differences between generations provide obstacles to overcome, it is also important to recognize the accessibility, innovation and collaboration these differences provide for the workplace.

Management, Marketing and Sales, Insider
The Effects of Bedtime Writing
Scullin, Michael K.; Bliwise, Donald L.

Bedtime worry, including worrying about incomplete future tasks, is a significant contributor to difficulty falling asleep. This article examines how bedtime to-do list writing can serve as a beneficial behavioral sleep aid for busy real estate professionals.

Service
The Fundamentals of Trust in Business Relationships
Akrout, Houcine; Diallo, Mbaye Fall

How can you ensure trust is prevalent in your real estate operation? In this article, we discuss the three stages of trust, the three forms of trust, and how they affect a client’s behavior so that you can successfully and effectively build trust with your clients.

Lead Generation, Customer Relations
Does Liking Lead to Loving?
John, Leslie; Emrich, Oliver; Gupta, Sunil; Norton, Michael I.

When a customer clicks the like button on a brand’s Facebook page, what happens? Do these likes have value to a company, or are they merely the click of a button?

Marketing and Sales, Social Media
INSIDER: Everything You Need to Know About Social Media
Bengston-Fair, Miranda

Social media has revolutionized communication and advertising and is a useful tool for keeping up with news, family, and friends. As a real estate professional, though, understanding how to best use each social media platform can have a positive impact on your business.

Marketing and Sales, Social Media, Insider
Reducing Employee Cynicism and Time Theft Through Empowering Leadership
Lorinkova, Natalia M.; Perry, Sara Jansen

What kind of relationships do you have with those who report to you and with your own boss? We study these relationships in conjunction with empowering leadership to suggest that the better these relationships are, the better position leaders are in to positively influence their employees.

Management
INSIDER: The Business of Flipping Homes
Bengston-Fair, Miranda

Thanks to the number of popular television shows, many people get the impression that they, too, can immerse themselves in a world of sparkling granite, colorful tiles, and rich hardwoods, all while making a handsome profit. But successful flippers have knowledge that extends beyond farmhouse bathrooms or modern living spaces.

Insider
How Language Shapes Word of Mouth's Impact
Packard, Grant; Berger, Jonah

Today, consumers can express their opinions about a product, a property, or almost anything. A few lines written by an anonymous user in a completely different geographic location and time zone can impact success or failure in the marketplace.

Social Media, Customer Relations
Playing the Value Game of Sales
Fifield, Charles

The Value Game is not just your normal game encounter, but rather a real-life experience in which sellers and their supporting teammates, the sponsoring company and the products/services being offered, engage with prospective buyers to reach a win-win game outcome.

Marketing and Sales, Customer Relations
The Power of Surveys to Increase Repeat Business
Fombelle, Paul W.; DeTienne, Kristen B.; Money, R. Bruce; Bone, Sterling A.; Lemon, Katherine N.; Voorhees, Clay M.; Liljenquist, Katie A.

Do you take the time to request feedback from your clients and customers? If not, you could be missing out on an opportunity to boost repeat business. Research has shown that merely soliciting a review from customer increases repeat business.

Marketing and Sales, Customer Relations
INSIDER: Listing Boss
Pettit, Kevin

Differentiating one's self from the competition is crucial to the success or failure of the business. In his new book, Listing Boss, Hoss Pratt discusses the changing environment and shares insight that will empower you to exceed your sales goals by transforming the way you approach your business.

Marketing and Sales, Insider
Doing Well vs. Doing Good
Kirmani, Amna; Hamilton, Rebecca W.; Thompson, Debora V.

The ideal real estate agent has high competence as well as high integrity. But not all real estate agents are perceived that way.

Customer Relations
INSIDER: 2 Chairs: The Secret that Changes Everything
Harris, Courtney

The new book, 2 Chairs: The Secret that Changes Everything, is crucial not only for people who are in trouble themselves, but also for those who just don’t know what advice to give to others in need.

Insider
Combatting a Stigma Begins with You
Wieseke, Jan; Mikolon, Sven; Kreiner, Glen E.

Stigma is inherently problematic for any worker but is particularly detrimental for real estate agents and other sales representatives. Stigma can be detrimental to agents because job performance and personal well-being depend greatly on favorable interactions with customers.

Management, Customer Relations
How Customer Satisfaction Affects Employee Job Satisfaction
Zablah, Alex R.; Carlson, Brad D.; Donavan, Todd; Maxham, James G. III; Brown, Tom J.

Firms often prioritize frontline employee job satisfaction, hoping that satisfied employees will lead to satisfied customers. In real estate, this implies that improvements in agent satisfaction are expected to increase client satisfaction. According to our research, these agencies may be missing an important opportunity.

Management, Customer Relations
Importance of Motivation to Career Success
Sok, Keo Mony; Sok, Phyra; De Luca, Luigi M.

The need for fantastic sales professionals is greater today than ever before. Increasingly, clients demand sales professionals provide exceptional customer service that coincides with meeting those desired results. To this, motivation is key.

Management, Marketing and Sales, Service, Customer Relations
INSIDER: Emotional Agility
Taylor, Austin

In Emotional Agility, Susan David offers a groundbreaking way to recognize our feelings and gives us the tools we need to avoid the emotional ruts that keep us from reaching our bigger goals.

Insider
Connecting Luxury Homes with Right-Minded Consumers
Kwon, JaeHwan; Seo, Yuri; Ko, Dongwoo

Our research examines how a consumer's view of this theory can affect his/her preference for luxury, and how advertisers, marketers, and real estate agents can use this information to increase the likelihood that consumers respond positively to luxury, increasing your chances of a sale.

Marketing and Sales
Do Past Preferences Indicate Future Selections?
Barasz, Kate; Kim, Tami; John, Leslie

Predicting others' preferences can result in a distinct advantage for a salesperson, especially through creating choice sets based on clients' implicit and explicit wants and needs. Oftentimes, these predictions must be made with almost no information about the client's preferences, so the salesperson may have to rely on previously observed behaviors.

Marketing and Sales, Customer Relations
Building a Winning Sales Presentation
Fifield, Charles

Delivering an effective sales presentation to a prospective real estate client will impact attaining your desired outcome for most client interactions.

Marketing and Sales, Customer Relations
INSIDER: Fearless Public Speaking
Harris, Courtney

In his book, Fearless Public Speaking, Patrick King explains exactly what it takes for you to confidently prepare for a talk or presentation and command the stage once you're there.

Marketing and Sales, Insider
Friends vs. Strangers: How Closeness Impacts Social Sharing
Dubois, David; Bonezzi, Andrea; De Angelis, Matteo

The art of being a successful real estate agent largely depends on the need to interact socially. How you interact with your own clients indeed effects their opinion of the services you provide and ultimately shape their opinions about you or your company.

Social Media, Customer Relations, Lead Generation
Combatting Real Estate Professionals’ Insecurity
Flint, Daniel J.; Zablah, Alex R.; Chaker, Nawar N.; Schumann, David W.

Have you ever felt insecure in your career? Have you ever doubted your ability to fulfill your job duties? If so, you are certainly not the only one in your field experiencing these emotions. While most are unwilling to admit their insecurity or discuss their self-doubt with their peers, insecurity is common among sales professionals.

Management
Looking Back: Key Themes in Sales Research
Richards, Keith A.; Schrock, Wyatt A.; Hughes, Douglas E.; Zhao, Yanhui

In every field of study, there are moments when looking back helps us better understand where we are now and the path forward. In an effort to uncover key takeaways for salespeople, we reviewed the lessons gleaned from the past 35 years of sales research.

Marketing and Sales
INSIDER: Shiftability
Smith, Luke

Throughout our daily lives, we have many options. We can change our jobs, our bosses, our cities, and try endless news sales methods. However, unless we undergo personal transformation ourselves, external changes will not propel us where we want to go or help us become who we need to be.

Marketing and Sales, Customer Relations, Insider
Forgiveness on Your Team: Role of Cohesion and Collective Action
Tsang, Jo-Ann; Irwin, Kyle; Carlisle, Robert; Johnson-Shen, Megan

Forgiving a transgressor plays a monumental role in team or group dynamics. At a team level, forgiveness can impact the cohesiveness of the team or collective action.

Management
Are Clients Persuaded by Boastful Agents?
Wooten, David B.; Packard, Grant; Gershoff, Andrew D.

Boasting by real estate agents can produce negative and positive reactions from their clients. However, boasting combined with a strategy to develop trust can be advantageous to a real estate agent.

Marketing and Sales, Social Media, Customer Relations, Lead Generation
Is the Customer Really King?
Plouffe, Christopher; Bolander, Willy; Cote, Joseph A.; Hochstein, Bryan

The modern real estate agent's business relationships today transcend obvious interactions with customers and now also include the internal business team and external business partners. The successful agent must skillfully manage these three relationships to complete the transaction.

Management, Marketing and Sales
Getting into the Business of Your Buyer's Success
Fifield, Charles

A basic objective to any selling engagement should be the buyer’s success, however that may be defined by the buyer.

Marketing and Sales
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Keller Center for Research

Hankamer School of Business

Paul L. Foster Campus for Business and Innovation
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Waco, TX 76706

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Waco, TX 76798

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