7 Tips for Handling the Stress of a Real Estate Transaction

The process of buying or selling a home can be one of the most stressful events in a person’s life.  All transactions involve the unknown and this more than any factor can drive both buyers and sellers into a state of heightened emotional chaos.

Throughout  the real estate transaction there are points where the stress is heightened for both buyers & sellers.  For buyers the stress really begins with deciding to make an offer and at what price.  Especially in a seller’s market this decision can feel rushed and lead to second thoughts.  Are there better houses? Am I paying too much? These questions haunt the buyer as they approach the decision to write an offer.  At the same time the seller is stressed over which offer to accept? Will this buyer perform?  Of if we hold out will a better offer come along?

Both sides of the same event are stressful due to the unknowns. The mind races through all the possibilities, filling in worst case scenarios where facts are missing. Dealing with these thoughts and sorting out what is a reasonable concern versus the imagining the worst is difficult absent good information.  That is a key reason why having a real estate agent who is a good communicator is essential.  Rather than running through all the possibilities in your mind, ask your agent questions and listen to her as she walks you through the uncertainties.  For buyers posed to make an offer, this means reviewing the comparative properties, understanding the prices houses are going for in the area and why the list price or the offer price is what it is.  This is real data, trust it, and it should assuage concerns about the price.  For sellers the agent can walk through all of the offers and explain the positive and negatives of each as well as provide comparative sales data to justify the offered price or what to counter.  A decent agent will not tell you what to do in either case but guide you through the decision making process so that you can put the demon questions to rest allowing you to make a decision.

They key to reducing stress is to keep in mind that once a decision is made the process moves along on a predictable path and although things arise that are unexpected, you now are being guided by a clear agenda and experienced professionals.  When things come up and the unknowns rear their ugly heads, try these tactics to reduce stress:

  • Are the thoughts and concerns I have reasonable?
  • What is the worst case scenario? Imagine it then put it in perspective and understand that you cannot control most outcomes. Once you do this, don’t continue to dwell on it.
  • Take care of the here and now. Do the things required of you and realize that most of what needs to happen will be handled by professionals.
  • Put yourself in the other side’s shoes. Are their concerns and requests reasonable from their perspective.
  • Ask the experts! If you worry about what the inspection reveals, talk to experts to get perspective on the information you receive.
  • Focus on the ultimate goal. You are moving and whether you are buying or selling the end result will be a new home and the goal you set when you began the process.
  • Go about your life; keep to your routine and continue to focus on the things that preoccupied you before you began this journey.

As a real estate agent I share the stress that’s involved in buying or selling a home.  I too am on pins & needles during the offer process.  Rather than spend the day worrying about what will happen next, I focus on the fact the decision is completely up to the sellers and I have done the best I can do to position the buyers offer in the best possible light.  I know that if we don’t get this one we will find a house that is just as good or better.  When unexpected hurdles come up during escrow, I focus on what I need to do to deal with it and remind myself that this is a learning process that will make me a better agent regardless of the outcome.  So despite doing this day in and day out, when my head hits the pillow, I am asleep before I have the time to fret over the problems of the day (most of the time!).

Contact me at http://www.LAandymay.com

Advertisements