By Gino Blefari, CEO, Intero Real Estate Services
Obviously, realtor.com put together this survey to have a little fun before Valentine’s Day. But do these emotional connections hurt or help buyers and sellers in the long run?
Real estate is highly emotional. We all knew this. But now we have statistics to show just how much this is the case for typical home buyers.
Women respondents (41%) were more likely than men (30%) to have a crush on a home that was out of their price range. And men (36%) were more likely than women (29%) to say they find a new house to crush on each week.
One of the first rules of negotiation is to be willing to walk away at any time. Strong emotional ties or “crushes” can quash the chances of being able to peel away so easily. There’s no evidence in realtor.com’s survey that shows a home crush resulted in buyers paying more, but we all know there are cases in which a buyer stretched a bit beyond their comfort zone when push came to shove in order to snag that dream home.
It’s not necessarily a bad thing. But loving a home too much could blur judgment a bit – for both buyers and sellers.
The ability to fall in love with a house is one of those areas of real estate that is both fascinating and defies logic at times. This is why working with a skilled agent can make a big difference in your experience.
A good agent can keep you on track and hold you to your original objectives and budget goals. And a good agent negotiates on your behalf, creating a comfortable distance between you, the home and the numbers.
If you’re a buyer who’s not working with an agent, consider an agent your emotional firewall. It’s too easy to fall in love in real estate. We could all use someone to help ground us and guide us to a sound investment.
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