In the 1998 Jobs Related Almanac published by Barricade Books a statistic was provided that real estate sales professionals fall into the same stress category as an air traffic controller, police officer, or an NCAA basketball coach.
It further stated that real estate sales are among the top 25 most stressful occupations.
If that was true in 1998, it is a wonder that we all do not have gray hair and high blood pressure today.
The reality is our clientele is feeling the same stress levels that we do because of the changes in the real estate market.
How can a buyer or seller reduce the anxiety level of a real estate transaction?
Both buyers and sellers should obtain a blank copy of the real estate purchase contract from their Realtor prior to entering into a transaction.
The seller should ask for one when they list their home for sale so they can review it before an offer is received.
Likewise, the buyer should review it prior to making an offer.
This will ensure that salient points of the purchase contract are understood by both parties and there is not a traumatic rush to comprehend the contract when it is being signed.
Knowledge tends to reduce apprehension and stress.
The negotiation process for some can be extremely stressful and oftentimes emotions erupt over unrealistic expectations.
We have seen contracts fall apart on $300,000-plus homes after strenuous negotiation when the buyer and seller were less than $500 apart.
Both sides dug their heels in, stressed during the transaction, and then stressed after the deal fell apart because both buyer and seller were unrealistic about a business transaction that turned into an emotional transaction.
If you are a seller and contemplating an offer, close your eyes and think through what your realistic needs are and the benefits of accepting the offer or making a sensible counter offer.
If you are a buyer, your offer should be reasonable and based on the facts your real estate professional has provided you on the current market conditions.
Win-Win situations avoid stress and hardly ever result in buyer’s or seller’s remorse.
Patience in this market is needed by both parties to make a transaction.
The process is taking longer and changes in various regulations are happening every week.
A professional Realtor is indispensible to guide you through today’s challenging real estate marketplace.
Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.