Monday, October 17, 2016

Hesitation Equals Disappointment



Real estate is very similar to the tides, in that, it ebbs and flows constantly and without hesitation. No matter which market you are in, buyers or sellers, hesitation on a property leads to some very negative ideas. This is exactly why hesitation equals disappointment. In real estate, the root of all evil exists because you have lost the opportunity to purchase the property of your dreams. There is a theory when discussing (macro) economics that is called Opportunity Cost and it basically states that an opportunity cost is the cost of a MISSED opportunity. To explain further, this theory discusses the opposite of a benefit that one would HAVE GAINED had someone taken action or not taken action and results in a missed opportunity. This sounds like nonsense but when you think of a few real estate examples, it will make sense.

First example. Imagine that you are a young, pre-approved couple looking for your first home. When you see it, you just know that it is THE ONE. As you look at 6-10 more properties, your mind continuously moves back to THE ONE and you cannot go on looking. Great, right?! As you take your realtor back to the property a day or two later, you learn through the realtor that there have been numerous showings on THE ONE home. As you tell your realtor that you want to make an offer on THE ONE home, you now learn that your offer is not the only offer on the table and that your offer needs to come in strong or else you will miss the opportunity to get your dream home. This could continue but as you see, there is a 50% chance of getting your home or even worse, 30% or worse, depending on the number of offers.

Second example. You have found your dream home right away and you tell your realtor that you are ready to make an offer. Your realtor goes back, draws up the stack of documents that you must sign and waits. The waiting and hesitation has allowed 4-12 new showings to move through your home. Fast forward 2 days and your realtor gets the signed documents to forward to the listing agent and they discover that the house of your dreams is now under contract because the Sellers have already accepted an offer.

Real estate is a fast moving business and it is constant. You cannot be Pokes McGraw when discussing or working in real estate. This is why hesitation equals disappointment.


#RealtorRickTN #clarksvilletnrealtor #‎clarksvilletnrocks #VeteranRealtor #MindfulRealEstate #hesitationequalsdisappointment


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