Scared when buying a house – Is it normal to be scared when you’re considering buying a home? Yes, my name’s Mike and this is luxury real estate broker Shana Acquisto. Yes, ma’am. That is you and the topic. Is it normal to be scared? Right. So it’s kind of talk through this. We’ve been real estate brokers now for, like, I don’t know, a couple of decades or something like that at the time passing.
And yes, it is kind of normal. There’s a lot of apprehension because it’s kind of the fear of the unknown is the first thing that we kind of look right. So what we’ll cover in this little short episode is, is it normal to be scared then like why and how do we overcome it and what are some things to do? So if we started with is it normal? I guess so. Right. We have the unknown. We have a lot going on.
We have finances. We have to take your home where you live. Some people before you purchase it, it would be a house. And then once you move in, it becomes a home. It’s like your family. There’s so many words that go into this and it’s finances and it’s, you know, big decisions, especially when you buy your first home. It’s normally around a new relationship.
So you might have this relationship and it might be something about your unsure about finances, job stability. You might be unsure about the relationship. You don’t know how you’re going to do these things. There’s new skills you have to acquire. There’s like a lawn to mow. There’s like laundry. There’s just more to do. It’s different. Yeah. So the answer is yes.
Yes. Yeah. Especially if you are taking on additional items. You know, in the past, it amazes me that we see people buying their first home, getting married or having a baby like, you know, and people are I got to be in the home in the next 30 days because I’m going
to have a baby. And that’s that’s added stress. So maybe, you know, you shouldn’t do that.
You don’t have babies and move simultaneously, you know. So what we’re saying is, yes, it is totally normal that there’s been many people have done it before you. And buying a home is the American dream.
It is the American dream. And it’s a great accomplishment. And I think it goes back to what we we preach all the time is set proper expectations. Right. So when you meet with a client for the first time, address these things, because in this market right now, they could have the fear of rejection. You hear about going through ten, fifteen different offers before you get one accepted. So setting expectation, having that meeting and sit down with your clients and, you know, really it’s missing those things. So they’re prepared. Right. Because it’s, it’s tough out there, especially in this market.
And sometimes as agents we forget those types of items that the first time home buyer is kind of scared and that’s what’s going on. So that’s what we’re trying to remind you of.
They’re scared to even ask or to let that be known that they’re scared or things they don’t understand.
There’s a lot of phrases that we use as agents that they might not get immediately, like what’s a survey? What’s an appraisal? What’s like a home inspection? What’s what’s title insurance? Who’s this person? What’s a process or what’s an underwriter? These are just different things. What how does a lender different than sometimes people think like, well, you’re the realtor.
I thought you could give me the loan, too. And it’s like, well, kind of, yes. But like, I’ll get you to a great mortgage lender that can help you. That’s local in nature.
So we’ll help them through a lot of a lot of fears for someone because, you know, I don’t know.
My fear would always be, can I pay for it? What happens if I can’t pay for it? Right. Oh, my gosh. So I don’t know.
I don’t know that people, you know, they don’t think about that as much when they’re when they’re leasing or renting. But when they turn to to purchase, it’s like, whoa, it’s just and then there’s words like tax deductions, right.
That you can write off for your home. So then there’s interest in what’s principal and interest and what’s taxes and insurance. And like, well, I have auto insurance now. I need home insurance and contents, insurance and like what is going on and what’s a liability limits. And there’s words. Right.
And that’s why picking a local agent to deal with that is full service and full time competent. Very, very competent. That would be nice. That cares about you and has your best interests at heart. It’s not really in it for the money, but is in it for the people and for what it creates.
And you can see that when you meet a person for the first time, if they really care about you and just kind of look into the agent’s eyes, look into the client’s eyes and just see what it is. And remember for the first time that maybe you were scared and then a little honesty in just discussing that with your agent and your client. Right. And just like I get it, easing their fears.
So how do you how do you ease their fears? I think, you know, again, setting expectations and they need to, you know, the first and foremost thing, they need to just. Take a deep breath and feel that you’ve got them taken care of, and we tell people that all the time, hey, we’ve got you. We do this all the time. Don’t worry. We want you to enjoy this process.
So you kind of ease their fears, they need to be patient. You need to tell them you’re going to have to be patient if you’re wanting a house and three weeks, that’s kind of not realistic. So you have to set expectations in and kind of coach them through that.
And, you know, the other thing is when they’re scared about can it pay for it and all of that, get them in touch with the lender, get them in touch with a great lender, that’s not just an online spitting out what you’re approved for. Someone is going to talk to you and and counseling you through all the things that you need to know.
And then, you know, they need to expect the unexpected because this is you know, it’s a roller coaster ride a lot of times and it’s not done until it’s done. And a lot of things can happen along the way that, you know, cause people to kind of freak out.
So so here would be another kind of buzz word for you. Right. As we we talked about that it’s the great American dream, but it’s also the great wealth builder. Right. And it’s the it’s like the number one item there. So if you want to create wealth, buying your home, owning it, holding on to it, paying it down over time and owning that establishes wealth for your family, for your whole household.
And so there’s big words. There’s home family wealth. Right. Dreams. And then when you talk with a client for the first time, whenever I have an initial meeting with them and I’m sitting there and having that discussion, I know I get to a great point when all of a sudden I see it in them and you mentioned it, that they take a deep sigh and you can just see their shoulders relax and you can see the tension wash away.
And that’s what you should be looking for. If you do that, then you’re answering their questions. You’re relieving that that’s your job as an agent.
Well, in this way, they’re developing, you know, confidence in your ability and that you will be able to take care of them.
I saw this stat that fifty two percent of American homebuyers have buyer’s remorse.
Ok, so after they go under contract, you know, they start thinking, did I buy the right home? Did I panic? You know, all of these things? And I think that’s another aspect of this, that we need to coach our clients and let them know to, you know, hey, before they enter into a contract.
And this is hard because we’re in a market that we’re having to really do some quick thinking. Right. You don’t have a lot of time to think, is this really the right home? So they needed a little checklist, I think, to just does this really check off the things that I need, the most important things that I need for my family or that I’m looking for as this check off?
Because what happens is I think people start talking to other people in the office. Well, my buddy moved over here and this area is great, you know, so they need to be confident and not worry about what they hear afterwards from other people.
Because you hear that and then you start panicking and maybe it’s not the right hum. I want to cancel it and we definitely want to avoid that, because right now, if you cancel home, you may not, you know, may not be able to have realistic expectations and understand a lot of things in different cultures.
People don’t necessarily tell the truth and they’re too proud about what they do. Yeah, I hear all the time that I’ll hear people say, well, I got this interest rate and then I hear from their lender. I’m like, no, that’s not really what happens. It’s really weird.
And they’ll say what price they paid or how they negotiated the home or what it was or like whatever these terms are, you know, like where is this coming from? It’s being it’s right on their side on what they could accomplish or whatever it is. And it’s odd. Yeah. At the end of the day. Great agent, local full time, right, when you deal with somebody like real estate is not done on a computer.
Ok, you have to see it in person. You’re going to miss a lot of things. You’re not going to have the right feel. It’s going to be facing the wrong direction. It’s going to there’s a problem with it. There’s going to be an obstacle outside the property that you don’t necessarily see.
If you deal with someone who’s national in nature, you’re looking for a discount or a rebate as a primary reason for choosing somebody for your large. What you’re doing is you’re totally setting yourself up for a major problem. And who is this person? What’s their accountability to you? Are they an employee or are they really vested in your interest?
Do they care? You can see it in their heart if they care about you and those are the agents at work.
This is your added value. This is what you provide to clients.
So when anybody ever says, do I really need a realtor, let’s go through this, just this alone.
And you asked the question back, I don’t know, do you? What about this, this, this and this?
So any time you work with any one of our agents, you get her. And you get me just a little bit of me, but now we’ll be here to help you out any time. All right. So it does matter.