4 Ways Buying a Home Feels Like Competing in the Olympics

As featured in the Huffington Post

Watching the Olympics may remind you of your former athletic glory.  It may even inspire you to get back into some of your old exercise routines like I am back to running the stairs this week (sorry, condo neighbors!). Believe it or not, the Olympics should also inspire you when buying a home.  I am sure you are wondering where I am going with this so keep reading, por favor!

1. TRAIN FOR IT
I am sure you have heard the stories of Olympians that tearfully moved great distances from their family nest for extended time periods as impressionable youths.  Or, of those that denied themselves a social life to perfect their athletic abilities.  Or, the families that sacrificed creature comforts and even necessities to ensure their little blessing could participate in all of the training events and competitions along the road to the Olympics.  But the inspiring and encouraging moral of the story is that many believe it was all worth it now that they are on the other side of winning.

Correspondingly, future homeowners must train themselves to delay their immediate gratification for the long-term benefit of having their piece of the "homeownership pie". For most home buyers, that means get your downpayment saved and your credit score up.  Certain home buyers are naturals and have been doing this since their first credit card offer at age 18.  While some, on the other hand, may have to spend weeks, months, and even years getting their scores on par with national averages and their savings built up.  Like the Olympians, recognize that the short-term training is worth the reward of owning your own home.


2. GIVE YOUR HIGHEST AND BEST
There is competition out there.  Olympians do not just get to claim gold, they have to beat out the competition through their creativity, instinct, and strategy.  But as we know, predicting the future and knowing what the next guy will or will not do is no easy feat.  Instead, Olympians have to pursue achieving their own personal bests and be satisfied with those results.

Similarly, as you buy a home in a competitive market with bidding wars, you may drive yourself crazy trying to predict what the next lady will or will not offer the home seller.  Rather, you should determine to give your best and highest bid based on the quality of the home and community from the market analysis your trusted REALTOR®  gives you.  In a bidding war, assuming that the seller wants to play a back-and-forth negotiation game then you likely are being presumption and may wind up missing out on your dream home.


3. KEEP YOUR EYES ON THE WIN
Regarding various Olympians, there has been plenty of hateration spat at them from the couch-watching, armchair olympian.  To add insult to injury, these distractions funneled via social media may be unfounded by a misinformed critic.

When buying a home, using a reputable REALTOR® becomes a source of accurate, local information.  Yes, Google and Zillow are the kings of giving us access to information in seconds with a click or two of which I am nothing but grateful.  But since you were not born yesterday, I know you know you cannot run with everything you read online.  Trust by verify - fact-check - your conscientious REALTOR® has access to the most reliable tools to do so.

Furthermore, an esteemed REALTOR®  adds a needed buffer zone between you and the home seller so that you do not accidentally "step on any toes" and cause innocent offenses and blunders that can cost you the deal in a competitive real estate market.  For instance, the stone in the foyer that you vocalized as "tacky and amateurish" may have been laid by the homeowner's ailing father, making it a "federal offense" for you to speak disparaging about it.  REALTORS®  are your professional third party mediator to get the deal done.

4. PREPARE TO BE ANNOYED BY YOUR SIGNATURE
Olympians have signature moves, whether they are coxswains, gymnasts, triathletes, weight lifters or any other of the competitors.  Those signature moves were performed in local, national, and international competitions several times over.  If that were not enough, then at the crowning event, the Olympics, they have to do it to first qualify and then again to actually solidify their status.  I do not think it is a stretch to assume they are slightly bored by the repetition.

It's All Worth it in the End!

Eager home buyers must understand that the need for their signature on various, seemingly unending documents will get well... annoying, particularly if the home is being financed.  But like Olympians, repeating our signature should be a time that we hone the process.  For a home buyer, honing the process means becoming familiar with the details of the documents and doing one's due diligence to catch any potential discrepancies.  Repeating your signature allows you plenty of time before your big day (closing!) to review that the terms of the sale are properly executed.

Sound off - I would love to hear from you!  Give me a shout on Facebook, Instagram, YouTube, and Google+ or by visiting LearnWithLee.Realtor.  And, be sure to tell the real estate agents you know to get a copy of the 5-star rated workbook, Plan to Win, to transform their real estate sales game plan.  Here's to your success!