419: How to Use Science to Find the Right People for Your Real Estate Business w/Richard Davis, Ph.D

Real estate is a people business. You could buy several rental properties, but without the right people in the right roles, you’re going to be swimming upstream. Today’s guest has dedicated many years of study to this problem and is here to help you make better people decisions!
 
Welcome back to the Real Estate Rookie podcast! The success of your real estate business largely depends on the people around you, from partners to property managers. Ahead of the release of his new book, Good Judgment, industrial-organizational psychologist Richard Davis, Ph.D joins the show to share his perspective on the crucial decisions that could make or break your real estate journey. Whether you’re looking to form investing partnerships, find good contractors, or hire property managers, this is an episode you won’t want to miss!
 
Tune in as Richard talks about the five main personality traits and how they predict behavior. Along the way, he busts some of the myths surrounding emotional intelligence (EQ) and shares the most important questions you should ask someone to determine if they are the right fit for your team. You’ll even learn about the power of perceptivity and why it’s SO important for you to keep this “cognitive muscle” strong!

In This Episode We Cover
Why behavioral psychology plays a HUGE role in real estate investing
How to make better people decisions in your real estate business
KEY questions to ask potential partners, contractors, property managers, and employees
The five main personality traits explained (and Richard’s take on them)
Why emotional intelligence (EQ) is not a good predictor of behavior
And So Much More!

(00:00) Intro
(01:17) What Is Behavioral Psychology?
(08:26) The Emotional Intelligence “Myth”
(14:22) Perceptivity & Good Judgments
(23:44) “Power” Questions to Ask
(34:13) Forming GREAT Partnerships
(39:14) Richard’s New Book!
(40:38) Find the Right Fit!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-419
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