The Psychology in Real Estate

By
Real Estate Agent with Buyer's Edge Company Inc

The decision-making process is more complex than you may think

girl standing in front of two front doors

Photo by Letizia Bordoni on Unsplash

Buying a home is a big deal. It takes focus and dedication to the process to get it right. You will make a list of what you want & need in a home. You and your partner will choose a neighborhood after considering your daily commute and other important factors. And even when you've checked off all the "must-haves" on your list, you could be missing an important piece of the process. 

There are subtle details that can drive your decision-making process Understanding what drives your choices will help you make a more informed decision. 

First, have a heart to heart conversation with your partner about what you see yourself doing in your home and neighborhood. For example, when I was a first time home buyer, I didn't tell Marshall that I could see us reading to our children in a family room with a fireplace. I never mentioned this because I didn't recognize how important it was to me. 

When we started touring houses and seeing homes with and without fireplaces, I realized it was time to share my dream with my husband. Here are a few suggestions for you to consider if you are planning to buy a home. 

  • Is your real estate agent working for you 100% - Some real estate agents work for a Brokerage that encourages agents to sell their in-house listings or inventory. We've had several clients tell us nightmare stories of agents showing them houses that don't meet their needs or criteria. Remember, you have the right to be fully represented 100% of the time by your agent. After all, you are bringing the money that will finance much the transaction. Choose your agent very carefully!
  • Carefully review HOA & Condo documents - HOA documents will govern what you plant in your yard and how you paint and decorate your home. Condo documents have rules regarding the care and maintenance of the common shared areas of your building. If you have a problem with the rules, you should not purchase a condo or home. You will have a period of review, in Virginia its 3 days for condo and HOA documents. In the District its 3 business days for condo and HOA documents and in Maryland, you have 7 days to review condo documents and 5 days to review HOA documents with a few minor exceptions. 
  • Don't buy a house that is at the top of your budget - You want to have enough money to make your house feel like a home. Make sure you are not stretching yourself too thin financially. Again, here's where your real estate agent can work with you to stay within your budget. 
  • Have an honest discussion with your partner about your expectations & fears - This should probably be #1 on the list of things to do. What scares you about owning a home? What steps can you take to avoid manifesting those fears? What do you expect from your new home? If you're buying a used home, like most of us do, are you being realistic about the maintenance responsibilities? If you are don't know anything about home repair, ask your buyers agent for a list of people they recommend. Your buyer agent should be a good source of information even after you purchase your home. 
Posted by


4849 Rugby Avenue Bethesda Maryland 20814 office 301.657.1475 cell 301.922.1677

 

Victoria Henderson is Vice President & Associate Broker with Buyer's Edge, Exclusive Buyer Agent & Realtor in Virginia, Maryland and Washington DC. Victoria is a certified Military Relocation Professional 

 

 

Marshall Henderson is a Certified Negotiation Expert & Exclusive Buyer Agent with Buyer's Edge & Realtor in Virginia, Maryland and Washington DC

Certified Negotiation Expert

 

Members of National Association of Exclusive Buyer Agents

Not Just a Buyer's Agent, an Exclusive Buyer's Agent. There's a Difference. Learn more at: 

 HomesBuyHendersons.com & BuyersAgent.com

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Marney Kirk 01/22/2018 08:19 AM
Topic:
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Rainmaker
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Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Victoria Ray Henderson Marshall Henderson ,

Excellent post with good tips on how to buy a home. Buying a home is a big deal. There are many questions you will have through the process and having a knowledge real estate is key to a successful home purchase.

Jan 19, 2018 09:07 AM #1
Rainmaker
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Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Dorie Dillard  It is a big deal and it sometimes comes with some unspoken hopes and dreams. Doing the research is the obvious part. Asking yourself why you want what you want plays a part too. Thank you for stopping by! Have a great weekend!

Jan 19, 2018 02:26 PM #2
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Great tips. It's so imporant to get on the same page. When we sell multi-gen homes, you can imagine the depth of conversation that needs to happen, prior to purchasing a property. D 

Jan 19, 2018 02:40 PM #3
Rainmaker
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Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

We have not had the multi-generational purchase, I bet that is complicated Thanks for stopping by the blog, have a great weekend!

Jan 20, 2018 04:56 AM #4
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Victoria and Marshall- it's so important to discuss with your partner what your dreams are and what you truly want. I can remember when Larry and I were buying our first Florida home and we kept walking out shaking our heads. Finally we took some time and realized that we were both used to rooms with really high ceilings and so far we had not seen any that hit our hot spot. Well done!

 

Jan 20, 2018 12:42 PM #5
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                             

Jan 20, 2018 06:12 PM #6
Rainmaker
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Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

This is great! Very helpful information for anyone considering buying a home!

Jan 21, 2018 08:35 AM #7
Rainmaker
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Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Taking time to think about how you want to live in a home is wise advice - as is getting on the same page with your partner.

Jan 21, 2018 11:57 AM #8
Rainmaker
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Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Kathy Streib for the feature and for sharing your home buying story. I did the same thing but with fireplaces:) Take care and have a great week!

Jan 21, 2018 01:41 PM #9
Rainmaker
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Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thanks Sharon Tara it's great to hear from you! I hope the holidays were fun and wish you much success in 2018! Have a great week

Jan 21, 2018 01:41 PM #10
Rainmaker
297,490
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Marte Cliff it's good to get on the same page with a partner but easier said than done! 

Jan 21, 2018 01:42 PM #11
Rainmaker
392,421
Marney Kirk
Cummings & Co. Realtors - Towson, MD
Towson, Maryland Real Estate

Victoria and Marshall, you are so right, it is very important to be on the same page, or buyers will never be able to choose the right home together!

Jan 22, 2018 08:18 AM #12
Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hello Victoria Ray Henderson Marshall Henderson, great advice to all buyers.  Many start previewing homes prematurely, it's important for both buyers to be on the same page.

Jan 22, 2018 05:31 PM #13
Rainmaker
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John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Great post.

If more buyers would talk out what is really important for them in their new home, and they use a professional agent who knows how to listen to their wants and needs, the process of finding that dream home will be a lot more stress free.

Thanks for sharing.

Jan 23, 2018 06:43 AM #14
Rainmaker
297,490
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you for commenting Marney Kirk and I have buyers in Towson Maryland and both of our kids attend Towson University:) Hope we see each other this Spring or Summer!

You're right Beth Atalay one partner is always way ahead of the other in terms of previewing houses. I ask lots of questions about the houses they've previewed just so we can all get on the same page quickly. and John Wiley a stress-free home search is one part of the plan. It's nice when we all know exactly what we are looking for in a property. Thank you all for stopping by the blog!

Jan 23, 2018 10:00 AM #15
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Victoria and Marshall

This is such important information for buyers, who often are not even fully aware of the lifestyle issues that are really important to them. It's always interesting to hear the discussions buyers have with each other at homes they are seeing as things unfold. And sometimes there are some pretty significant disagreements.

Jeff

Jan 23, 2018 10:28 AM #16
Rainer
157,380
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

These are excellent and important points. Sometimes we need to sleep on a decision in order to make a correct one. Thank you for sharing. 

Jan 24, 2018 06:49 PM #17
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Victoria Ray Henderson

Real Estate for Home Buyers with Buyer's Edge
Looking for Buyer Agents in Maryland, Virginia or Washington DC
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