Hello and thank you for joining us again to discuss the moving parts of a transaction. Today, we're going to dig into something that I don't think we talk about enough and that's the emotions and the communication and the expectations that have to be explored even prior to engaging with an agent and starting to look for a house.
The real estate transaction is a phenomenally emotional experience and let's face it, it's because you are choosing one of your most human needs which is shelter for yourself and your family and so you go through a lot of emotions. I mean, when you first decide that you're going to buy or sell, you go through excitement and maybe even a little bit of fear.
Sometimes there's some regret and as you progress through that transaction you feel a multitude of emotions: anticipation, anger, discouragement, love, sometimes grief when the transaction doesn't go the way that you want it to and maybe you have to start over.
So, it's really important that you be able to talk with your agent about your goals and that you thoroughly understand the market you're in because that will set the tone for some of the things that you'll need to do and understand to have a successful transaction and so your communication with your agent has to be so open and really open with yourself.
You have to really explore what it is that you want and need so that you can help your agent to appreciate that and then you have to feel comfortable to say this is how I feel about certain things because your agent is your advocate and you need to be on the same side so as you go through the transaction and you're excited about looking for a house but maybe you make a bid and you don't win that one and then you feel discouraged or maybe you do win, it you have the home inspection and there's some issues there and the seller won't fix them and you feel angry about that.
These are all things that can be much more easily dealt with if you know the condition of the market and your agent can say, “Okay, this is how it's working. This is the kind of market where you can expect a seller to make repairs or this is the kind of market where you can't really ask for repairs so then the home inspection becomes a time to decide. Do you want the house or not right so you can see that when you're forewarned, you're forearmed and if you know what's going to happen, you can handle those emotions more effectively?
So just remember that a real estate transaction is a very emotional process and you do need to have expectations set for what you can expect and then you need to have very intense, very open, very frequent communication with your agent. We hope this information has been helpful. If you'd like to explore the topic further, please feel free to reach out to me.