February 22nd, 2023 | Real Estate

I Married My Blind Date!!

Would you marry someone you’ve just met?  I mean come on, seriously?!

One of the hardest things to do in life is to decide, to make a firm decision and not feel regret afterwards, right?

We’ve all been there, from things as simple as deciding where to dine with your partner to what flick to watch on Netflix – decision making, no matter how small or large, isn’t always easy.

But why?  

Well, we’re not psychologists, but it probably stems from a variety of reasons, not the least of which being control.  Perhaps it’s because we struggle with the unknown or the idea that we might make a mistake.  We run through a bunch of IF and ELSE scenarios and may find ourselves paralyzed in the process – we do nothing, which is often worse than perhaps making a seemingly wrong decision.  But, we’re humans, and so we often choose the path of least resistance because it’s “safer”, we want to know that there’s a Plan B, an out, a refund policy .. some way of rectifying a wrong … which, by the way, is more than likely why big box stores offer such lucrative refund policies … they know 80%+ won’t be back … but just need that level of comfort to move ahead with their purchase … an out or control so to speak.

So, how does this translate into our world of Real Estate?

Here’s how:  For every 20 or so Buyers/Investors we work with, there’s always the one where the PERFECT home shows up on our very first outing!  Now you’d think this would be a great thing … it is, but it isn’t. 

It isn’t because, as noted above, making decisions isn’t often easy.  Certainly not a decision as large as purchasing your first home or investment property – you’re parting with a large sum of cash, that’s likely taken you a while to save up!  You’re feeling anxious and need assurance that you’re not making a mistake!!  Your fears are completely understandable.

Which is precisely why most clients struggle to pull the trigger on the first outing – sadly even if it’s the right property for them!  And we know it.

So, who does?  Which crazy nut pulls the trigger on the very first outing and why … how? 

Well, here’s the scoop and how we encourage Buyers/Investors who come across the “one” on our first outing to think about their situation.  You’re not as green as you think you are.  If you’re working with us, it’s likely we’ve had a Buyer Consultation a while back, we’ve talked through the purchasing process end-to-end and discussed market dynamics and how they play into your Real Estate goals.  You’ve been on a property search for a while now, a few months or even longer, and we’ve exchanged countless emails, calls and texts on the same.  Even while you’re on our search, you’re still checking Realtor.ca daily (multiple times most days) and getting excited about various opportunities.  You’ve had multiple discussions with your Lender, Family and Friends and understand your needs/wants to a tee.  You drive around your target neighborhoods on weekends and look for Open Houses, schools, parks, retail and at this point could practically draw a map by memory if you so wanted.  You can clearly articulate what you want vs what you don’t want … you are an expert, but you don’t know it, yet!

You feel rushed because it’s your first outing – plain and simple.  Your gut tells you to go for it, but your mind seizes to follow.  It’s an inner battle and you struggle to convince yourself that you ARE more experienced than you give yourself credit for.

Those who can logically come to terms with the fact that seeing more won’t change their criteria, won’t change their needs and wants, those are the clients that ultimately pull the trigger and are often better off for it … as they fell in love at first sight and knew to “put a ring on it!”.

Those who don’t, may still find something that they love equally or sometimes even more … but, it’s often the case that when “the one” shows up on the first outing and is passed on, that client seems to perpetually reflects back on the “one that got away” … sad but true.

So again, would you marry someone you’ve just met?  If you felt in your gut that they were “the one”?!

Perhaps the best way to sum all this up is by sharing one of our favourite quotes by the Oracle of Omaha:

“The biggest mistakes we’ve made by far, are mistakes of omission and not commission.  Meaning, it’s the things I knew enough to do, within my circle of competence, and I was sucking my thumb.  Those are the ones that hurt!”

Warren Buffett