Are you frustrated with today’s market? Are you feeling defeated? If you are, you are not alone. A lot of Buyers are submitting strong offers only to get bid out again and again. I get it — I’m working with Buyers who are strong candidates. They are submitting strong offers. Clean offers. But, still no cigar. What do they want? Simply put — a house! They want a home to call their own. A property that meets their needs. One within their price range. That’s not a very big ask. It’s reasonable. And, it is attainable. But, it may take time.
Patience is Key
So, what do I tell my Buyer clients who feel like throwing in the towel? I tell them to be patient. It’s not rocket science, I know. But, there is a lot be said about being patient. Waiting is not always a bad thing. In fact, while you are waiting for that perfect property, you will actually be learning. All those seemingly challenging experiences are actually teaching you a thing or two.
While You Wait…
Here are a few things you will learn through the process of waiting to get an accepted contract:
- You will learn how to fine-tune your offer. To sharpen your pencil, sort of speak.
- You will learn what you can and cannot live without.
- You’ll learn to make compromises.
- You will learn about how the market works and how value is established.
- You will learn about neighborhoods and what community suits you best.
- You’ll learn about property. Condition. Construction. Costs.
- You will learn about the importance of timing and strategy.
- You will learn about interest rates and how the cost of funds drives prices.
- You will learn about the importance of a good agent and timely communication.
Your New Home is Worth It!
Yes, you will learn a lot through the process of submitting offers. Most importantly, you’ll learn about yourself. You’ll learn that you can stay in the game. That you can persevere. You’ll learn to make some compromises. To be flexible. You might also discover that you are willing to pay more than you initially thought. Perhaps not. The point is to think of the experience as an opportunity to learn more about the market. About real estate. And, about what you really want in a home and neighborhood. Don’t let the value of the experience (no matter how frustrating) go to waste. There are lessons to be learned in the process. Good lessons. And, when you finally secure the right property, you’ll be better for it. Smarter. Savvier. And, you’ll likely be happier with the house you end up with than the one that got away. Believe me; I see it all the time. So, be patient and trust that while you are waiting, the right house is also waiting for you!