Making Better Real Estate Decisions
The decisions we make on a daily basis really can affect the rest of our lives. Whether these decisions are conscious or unconscious, what I have come to learn in my many years as a real estate professional is the people we trust to help in our decision making processes may not always be the best choice.
I am often described by my clients as having a really good way of giving them clarity and ‘telling them how it is’.
Looking back on the decisions you’ve made, is it possible you made the mistake of hooking up with the wrong advisers? Maybe they weren’t really advisors at all, but just people who you thought knew the answers to your questions and personal situation? They had your best interests at heart but their desire to advise and protect you actually meant your plans were derailed. These “advisers” come in the form of well-intended friends and family who do care for your welfare but are unlikely to acknowledge that their advice is merely formed on the basis of their own experiences. It is not usually based on experience in an aligned industry nor is it truly objective professional advice.
Many of my real estate colleagues would agree that in our industry, we see this all the time. Especially when it comes to selling the family home, where emotions are peaking. Depending on the circumstances surrounding the sale, it is not unusual for friends and family to jump in and play leading roles in advice giving.
Sometimes this is a blessing and can bring real comfort to the client but there are many times when my clients end up confused or frustrated because quite simply they are given wrong advice that ultimately goes against their best interests. Because it is given by a trusted personal contact, such as a close family member or friend, the words are taken as gospel. Not only can this be frustrating for me as a professional who always works in the best interests of my clients, but it can also be heartbreaking for me to see my buyers or sellers make wrong decisions that only serve to hurt them in the process.
In real estate, buyers and sellers are forever asking for my opinion and advice when it comes to property.
What should I do in this situation?
When is the best time to sell?
Do you think I should accept that offer?
Have you go any tips that will help me with my negotiating?
What I have come to learn from so many years in the industry is that the advice we give is based on our individual personal experiences which are underpinned by the incredible value hidden in our many professional experiences.
For me, the best piece of advice I can give anyone is this. Do not presume you know the best way forward in matters where it is not your field of expertise. This applies to the so called (but well intended) “experts” as well. Even in matters that seem somewhat mundane, it may be better to not give advice to someone if you don’t have that specific expertise. Instead, offer your opinion but steer them towards the professional.
Moving on from this, here’s a way forward when you don’t know who to turn to regarding an important decision, be it financial, personal or anything for that matter that affects your life.
I follow this 4 step method all the time and seemingly it works well for me and provides a bit of a framework for how I base my decisions.
- Ask someone in the appropriate industry who knows. Or ask for that valuable and reliable referral to someone who will Seek out a trusted source for a professional referral to an expert they have dealt with which resulted in a positive outcome for them. Mum, Dad or Uncle Bill may not be that person.
- When taking advice from anyone, stop for a moment and think about your relationship with that person. Are they being unbiased enough with their advice? Or are they just being a little too ‘helpful’?
- Place a priority emphasis on working with a referred professional rather than a smooth talking ring in.
- At the end of the day, go with your gut and never look back.
Decision making is never easy, but for what it’s worth, the one thing I’ve learnt about making decisions in life is that we never really stop learning. A poor decision leads to a better one next time around and at the end of the day, it really all does happens for a reason.
Have you Seen Our Home Sellers Checklist for getting the best result on the Sale of your home?
Telephone: Call Barb on 0412 765 041
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