the emotions of Real Estate

By Trisha Opie Sassi

To say that emotions are involved in real estate transactions is an understatement. For some clients, emotions consume them during the process. Investing in real estate is a big deal - it is a huge investment; most times it is the largest and most important one you will ever make. Having doubts and anxious thoughts about the process, the current market conditions, and nostalgic ties to a property all play a part in what a person feels; and consequently, the way a person acts and reacts to these transactions.

Fortunately, a good Realtor® will help you with this roller coaster of emotions and myriad of questions and concerns. As a third party to the transaction, whether you are buying or selling, a Realtor® will look at the facts; the reality of the current market, and they will rely on their professional knowledge of the industry. They will be your voice of reason in the mix of emotions you are feeling. This is a great advantage to you, as realistic information from an outside source is needed advice in this process.

Buying a property can be daunting. There are so many options to choose from; or maybe there aren’t. “What is the best neighbourhood? What are the best mortgage terms available? Do I use a bank, private lender or mortgage broker? What if the house inspection doesn’t go as anticipated? Can we back out of an offer once it’s been accepted? What if my financial situation changes after we close on the house?” On a brighter note, you may finally be able to afford the house of our dreams! In that case – you may feel like you need to make a hasty offer, so you don’t lose out on your dream property. You may want to ignore the red flags of a home inspection, or end up settling on a higher price than you need to.

Selling your house also comes with a lot of unknowns. Is it really the best time to put the house on the market? Will the market improve if I wait? What if I wait too long and prices go down? What type of services will I receive from my Realtor®? Do we have to accept every offer?

As a Realtor® I advise my clients that the current market will always dictate the value of your home. Let’s face it, we don’t always have the choice of when to sell or purchase a home. Your job may require a transfer, you may find yourself in the midst of a divorce, or need to sell your parent’s home as they are aging and can’t keep up with work that comes with owning a house. It’s really not worth thinking about the “what ifs” – you are here and now and require a purchase or sale. It’s essential to think positively and work with your Realtor® to sell/buy the property that will benefit you the most.

Through all questions, anxious thoughts and unknowns, your Realtor® can help navigate these feelings with you. We can assure you of the facts, provide you with current data and take the emotions out of the transactions for you and look at the situation logically.

Finding a Realtor® that you are comfortable with is a big part of this process. Take time to get to know your Realtor® Do your goals align? Will they be available when you need them? Will they go the extra mile for you? Do you feel like they will go to bat for you when the negotiations get tough? All of these things need to be considered prior to signing a contract to work with a Realtor®.

A good Realtor® will get to know you, your situation and your reasons for buying and selling. Your goals should be your Realtor®’s goals. That is true for me. As I am working for my clients, it is their needs that must come first. The best part of being in real estate is meeting new people and helping them to achieve their dreams. Whether it is their first rental, purchase of a first home, selling the generational family home, or finding rental investments for seasoned investors, meeting and helping people is the best part of my job. Each and every transaction is different and brings new challenges and successes. What worked for one transaction may not work for another one, and being flexible and creative in how to market a property is also important. If now is the time for you to move forward with a real estate transaction, I encourage you to reach out to a Realtor® and discuss how they can help you. Having a registered professional by your side during the process is a support that will help you keep your emotions in check and will allow the voice of reason to prevail.