To succeed in real estate, you need to become an expert in your field. Unfortunately, the more advanced your knowledge becomes, the harder it can be to effectively share it, especially with industry newcomers. This phenomenon is known as the “curse of knowledge” — a cognitive bias that can cause communication breakdowns.
How the Curse of Knowledge Impacts Client Communication
The more you know about a given topic, the easier it becomes to undervalue that knowledge. Since once complex concepts now seem simplistic to you, you may falsely assume that everyone understands them. This can lead to overly complicated dialogues and marketing campaigns that lack concrete details and/or omit pertinent information.
How to Compensate for the Curse of Knowledge
1. Be aware of it.
Rather than undervalue your current knowledge, recognize that you didn’t always have it. Remember that seemingly basic information can be groundbreaking to the uninitiated.
Use your own mistakes and learning experiences to identify and address potential knowledge gaps.
2. Don’t make assumptions.
Ask questions to gauge each individual’s current level of understanding. Adjust your communication style accordingly to improve client comprehension. Use what you’ve learned to segment your audience, craft more effective marketing campaigns and create content that adds exceptional value.
3. Simplify the message.
Don’t overwhelm the listener; break new concepts down into small, easily digestible chunks. Avoid industry jargon if possible, but define it when necessary. Use facts, narratives and practical illustrations to provide context, construct a framework of familiarity and make new ideas more palatable.
4. Keep improving.
Each conversation with a buyer or seller is a learning experience. Make note of communication breakdowns and frequently asked questions. Start bridging the knowledge gap by addressing common misconceptions earlier in the conversation.
