Riding the emotional rollercoaster of real estate
Purchasing a home is an emotional process, especially for first-time homebuyers. Anticipating and understanding the emotions that your clients are going through can help you be a more empathetic and supportive agent through their journey. Here are a few common emotions experienced during real estate.
For those entering the housing market for the first time, the initial emotion that usually takes hold is excitement. Clients have been doing preliminary research of their options and the market online and may be getting excited about the future, creating a dream or vision of what their future home could look like. Real estate agents certainly can and should share in this excitement with their clients while still ensuring that their visions are aligned with their budget and the state of the market.
Overwhelmed and stressed
Once they begin crunching the numbers, applying for mortgages and viewing properties, clients may begin to feel stressed and overwhelmed at this stage. The initial dream of what home ownership looked like might be reassessed due to budget constraints and availability. Rules and regulations such as mortgage insurance can feel daunting. Your support as a trustworthy real estate agent can be comforting while going through all the numbers and paperwork. Direct your clients to resources that can help guide them through the process, or develop your own personalized handouts and guidelines.
Bidding wars may be waning but your clients may still enter one during their home buying process. The anticipation can lead to disappointment if they don’t get the property. This is an emotional process when your client becomes attached to a home. They might need some time to process on their own, but you can also help with reassuring your clients that their dream home is still waiting for them.
Once your clients have found and purchased a property they can get excited all over again about moving into their dream home and beginning the next stage of their lives. You can help extend the joy by giving your client a nice housewarming gift to thank them for bringing you along for the journey.