Do you know why she is about to win this race? BECAUSE SHE KEPT RUNNING!
Do you know who is NOT going to win this race? All the folks who decided to stop running, sit down in the stands and just watch.
Of course you know I’m not really talking about this runner, I’m talking about HOMEBUYERS. Because that’s what I do. I talk about real estate.
And this runner is my metaphor du jour because in the last week or so I’ve been hearing from a bunch of buyers and buyers’ agents about people getting tired in this competitive market, and deciding to just sit down and watch someone else “win” the houses they wanted.
But sitting down in the stands sipping a Diet Coke or a beer is not the way to get a house.
On July 4th, someone is going to be sitting out on their fab new deck at their fab new house, grilling something delicious, hosting their friends and and family. But it’s not going to be the folks who decided this was TOO HARD and decided to sit down. It’s going to be the person who kept moving forward.
This market IS hard. I’m not trying to pretend it isn’t. I get being tired. But people ARE getting houses every single day! Lots of people, getting lots of houses, every day! One of those people might as well be you! It’s not impossible, it’s just challenging. And I’m sure you’ve done tough things before! Getting a house now will mean working smart with your agent on a strategy that might “win” for you. A good plan truly can get you across the finish line
Sometimes a good plan IS about dollars, but sometimes it really, really is NOT. Numerous times I have watched sellers choose the offer that was NOT the highest, but had other lovable features. Some of being lovable is easy and FREE. (Read that again, because I’m not kidding. “Easy and free.”) For instance, your offer will tell the seller when you are going to deposit your Earnest Money in the escrow account. When you say it’s going to take you 10 days to make it happen, you look slow and uncommitted. You can say: I WILL DEPOSIT IT TOMORROW! That shows the seller you’re someone who gets things done, someone who follows through, someone who will cross the finish line. (You know what sellers love the most? Buyers who will cross the finish line!) You’re going to ante up those earnest money dollars; it costs you NO more to get it done quickly. If you can Venmo your friend to cover the dinner you shared while you’re still at the dinner table, YOU CAN DEPOSIT EARNEST MONEY IN ONE DAY. Just do it. It’s free; it’s easy. It shows the seller you’re a contender. It shows the seller you are a finish-line-crosser.
There are a zillion other ways to help your offer stand out. Plan hard with your agent and get creative about utilizing as many of these options as you can. Please remember that some are easy and free. Talk to your agent, brainstorm, tweak your game plan. If you’ve offered on a house and not gotten it (or offered on 5 and not gotten them), your agent might be able to debrief with the listing agent to get some clues about why the seller chose a different offer. Sometimes it is dollars, but sometimes it really, really, really is not. (And if it is dollars, over and over, maybe you are competing for the wrong houses. That can be something to strategize about, too.)
I get that “losing” makes you feel like you may never win. But seriously, sappy but true, the only sure way to lose is to stop trying and give up. Look at that photo again. Decide to be the runner!
And PLEASE spend some time thinking about this: there is this interesting moment going on in the market right now where other people ARE getting tired and giving up and sitting down. Look at the photo again; look at all those folks in the stands. Decide not to be them…and thank them for CLEARING OUT OF YOUR WAY and getting you closer to the house you want!! If folks are quitting, they are making it easier for YOU!! Ponder that for a moment. Ponder it some more. Just keep in the race!
Your friends just texted and said thanks for the Venmo. They’re glad you took tonight off from house hunting, and refueled with them. They know you needed a little rest, and they know that resting is different than quitting. And they said they can’t wait to do July 4th at your new place!
Tags: brisk market, first time buyers, home buyers, home search
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