Planning is important. Every year real estate agents sit down and create business plans with lofty goals of transactions completed and commissions earned. Honestly, most of these are discarded by February. I thru-hiked the Appalachian Trail in 2011 and in the months leading up to leaving I spent an entire day looking through a trail guide and planning every day’s mileage and every place I would sleep for an entire six months.
My very first night on the trail I ended up seven miles behind where I thought I’d be. The plan didn’t last one single day.
Was the day I spent pouring over the guidebook a waste? No, because plans can be a run through, a dress rehearsal, that creates a necessary framework to be fleshed out along the way.
Create a Real Estate Plan
These same principles apply to buying, selling or trading in your home in 2018. If you’ve clicked through to here the idea of doing some kind of real estate transaction in 2018 has probably crossed your mind.
Maybe it was an early November discussion with your spouse that got put on hold until after the holidays. Maybe you went home for Christmas and your parents mentioned that not only would you be getting sock this year but you’ll be getting help with a down payment. Maybe you went to your kid’s house for Christmas and returned home to the realization that your empty nest was just too much space and had too many stairs.
Write It Down
Your real estate plan will give your eventual agent and mortgage broker a good idea of your expectations, experience level, and goals. Buying or selling will go from a fuzzy idea that you’re just kicking around to a more concrete plan of action. Studies show that people who write down plans are far more likely to carry out the plan than people who don’t.
If you’ve been talking about moving for two years now but it never gets much past the conversation stage taking an hour or two to draw up a plan can help you really put the wheels in motion.
What’s the Plan?
Everyone’s plan should be a little bit different. I’ve included a link to a one-page planning template to help get you started but you should feel free to make it your own.
- Define your ultimate goal. How much money do you want to walk away from the house with? When do you want to buy? What is the dream home you want to own?
- Determine how you’re going to find your real estate team. Do you want to just interview agents and mortgage brokers that friends and family recommend? Do you want to meet agents at open houses?
- Figure out everything in between as best you can. A good real estate agent will be able to explain the process, a reasonable timeline, and work you through the steps between hiring them and closing.
Make Your Plan Today
Click on the buttons below to download and start your real estate plan.
You’re Not Alone
Real estate agents don’t just help with contracts and offers. I consider myself a real estate advisor who is there for clients well before a transaction, during a transaction, and months or even years after a transaction. It’s never too early to consult with a real estate agent, have them answer questions about what you want to do, and give you a realistic timeline. Simply explain that you’re not looking to buy soon and would prefer you not be bombarded by e-mails and phone calls. A professional and reputable real estate agent will respect that preference.