Managing expectations is a key to a successful real estate transaction and more importantly to enjoying your life. Why do I say this?
Yesterday I had a wonderful day. It went according to my plan. I mowed the lawn and applied my late fall/winter fertilizer application. I spent time on my blog site, Active Rain. I completed the sermon I was to give today and last night Lorie and I went to Salad Works for supper. The evening was capped off clothes shopping, something I dread, but was quite successful. The only downer was watching my Iowa Hawkeyes lose to Michigan State Spartans.
In thinking through why I enjoyed yesterday so much, I realized the day met my expectations or even exceeded them. How does that occur in a real estate transaction? If you are buying or selling property, it is important to have your expectations set according to realistic outcomes. What is a realistic selling price for the home you have for sale or desire to buy? I have worked with sellers who did not have realistic expectations on the selling price. Comparable sales did not seem to sway them and their opinion of what their home was worth. I have also worked with buyers who seem to think the only good buy is one where they actually steal the property from the seller. A successful real estate transaction requires the buyer and seller to have realistic expectations.
It is also important to manage your expectations when buying a home. What can you afford? Are you comfortable with the payments you will have for the home you would like to buy? What amenities would you like and is it realistic to believe you will get them at the price point you can afford? These questions highlight the importance of getting preapproved by a qualified lender. It is also important to learn about the real estate market from a good real estate agent. Having realistic expectations is an important step in having a successful real estate transaction.
Give me a call if you want to learn more about the real estate market.