Just like これ
is considered to be a pronoun in Japanese (more accurately it is a substitute noun). それ
translates roughly to ‘that’ and highlights something that is closer to the listener (physically or emotionally) than the speaker.
It is that! (That's it!)
In these sentences, we can see それ
highlighting things that the speaker is identifying as being closer to the listener, or about the listener.
is also used to point back to things that have been mentioned previously in the conversation. This can be something that was said earlier within the same sentence, or something that someone else said.