August 20, 2008

Remember the First Time You Purchased Real Estate??

Posted in Uncategorized at 3:38 am by winterbaserva

What is an escrow account? What does my mortgage actually cover? And, what the heck are origination points?
My first real estate purchase was relatively trouble-free. I was 23 years old buying a brand new condominium without a realtor. I felt like a superstar when I negotiated what I thought was a “great deal”..…In hindsight, let’s just say, I REALLY wish I had a realtor…

I was working directly with the developer’s representative and since they just wanted to close the deal, I was left with TONS of unanswered questions. And of course, because they were representing the seller and had no obligation to me, I was seen as just a “transaction.” 

Luckily, this transaction ended up being in my favor. I got a good rate, no hidden surprises and actually sold my condo in Miami during the worst time in history without losing a penny. Unfortunately, many others can’t say the same about their first real estate deal.

So, what about first-time homebuyers?? As an agent, these can be the most dreaded words one can hear. Whether it’s their borage of questions, panicked calls during all times of the day and night, or the over-examination of irrelevant facts, it seems as though we give, give, and give.

But……what I don’t think my first-time homebuyers will ever know how much they GIVE me! Working with first-time home buyers has been one of the most rewarding professional experiences and greatest pleasures in my career. They constantly push me to learn more, branch out, visit unknown neighborhoods, research my research, and analyze myself, my work ethic and my professionalism. Through their experience and process, they allow me to live my life’s purpose of helping myself and others grow by showing the truth in a graceful and honorable manner, to lead by example and set new standards.

You see, real estate has become about the “transaction” for so many practitioners. But, in order to be truly successful, we have to remember the person BEHIND the transaction—their fear of the unknown, hopes for the future, and the faith they have entrusted to us to be the one to guide them along the way.  They had options when selecting their representation and THEY CHOSE YOU. Don’t let them down–we have a responsibility to our clients!

So, I challenge you, the next time you are working with a client, whether it is a first-time homebuyer, an experienced investor or even a friend or family, to remember the first time you bought a piece of real estate. After they’ve ask two million questions, finish your conversation by saying “Are there any other questions you would like to go over?” When they call you panicked in the middle of dinner, remember they just need a little reassurance and are looking for your leadership—STEP UP!  And when your family or friends act like they know more about the business than you do, just ask yourself “How can I appreciate this person even more for what they are teaching me right now?”

And, if you can’t do that, simply remember the first time you bought your first piece of real estate. Feel the unknown, the hopes and the faith you once had and remember now it’s your time be the hero. Money is money–it comes and goes. But, to be able to live your purpose through your work, not just “make a transaction happen,” now that’s truly living!

To all my clients: first-time homebuyers, investors, family and friends and referrals. THANK YOU for what you teach me each and every day!!

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