A bit of a back story that has nothing to do with real estate:
When I was a kid, my Dad used to know the gas prices at every gas station in town. He wouldn’t hesitate to cross the street or drive across town to save a few cents per gallon. His job required him to drive a TON in his big diesel truck, so from his perspective, the savings of a few cents per gallon over time probably added up to a pretty decent amount.
From my perspective though, the amount of time it would take me to drive out of my way to a specific gas station to save a few cents per gallon, not to mention the mental energy it would require for me to pay attention to gas prices as I’m driving around and then catalog them in my brain so I knew where to go when the time came, is just too much. When my gas light comes on*, I stop at the nearest station, (secretly hoping it’s a Kwik Trip), fill up, and don’t even think about the total.
Gas is something I need to purchase to fill my vehicle and a few dollars here or there per fill are not big enough wins for me to get excited about.
*Yeah yeah yeah, I know I shouldn’t wait this long to fill up. To be honest, this probably plays a role in my decision to go to whichever gas station is closest…necessity. Plus I like a little excitement in my life.
Now, let me be clear. I FULLY recognize the power of small wins stacked up over time.
This is actually how I think about my nutrition and fitness goals. Each day I take a walk, try to hit my protein and calorie goals, and I don’t stress too much about the rest. I’ve been doing the same thing in my house lately, too. If I spend a small amount of time cleaning/sorting/tidying each day, overall my house stays in such a state that I could accommodate a showing on short notice. This consistent action over time, in combination with big pushes as time allows adds up to MAJOR results over time.
We consistently OVER estimate how much we can get done in a day, but also consistently UNDER estimate how much we can get done in a year. (Tim Ferriss said something along these lines and it’s the TRUTH.)
And if I took the time/energy to set up a system that, say, automatically transferred the few dollars here and there I saved by getting the cheapest gas in town into a high interest savings account or an investment account, perhaps that would amount to pretty big wins over time.
But alas, I do not. And, typically, any money I would save by doing this would quickly be spent on something dumb on Amazon or at Target.
With real estate, I need BIG wins.
When costs are spread out monthly or over 30 years in real estate, two or five thousand dollars more or less on my total mortgage works out to maybe a hundred or few hundred dollars a month difference. For me, it is probably not a make or break situation. Yes, this may be impactful, but in real estate the tens of thousands of dollars are where we start to see big differences.
With interest rates moving up and down a bunch these days, it is no wonder that many people are freaking out, and we have shifted very quickly from a wild and crazy seller’s market this past spring to a buyer’s market this winter.
We are noticing daily changes in the market right now. As someone who is considering a big move, I can completely understand how it can feel very uncertain and scary. Opinions are rampant and dramatic.
There are a million things I could say about opinions and fanning the flame of fear, but I will always come back to ONE thing: making the best decision you can with the information you have in that moment will always yield big wins, even if, in retrospect, you don’t view that specific instance as a win.
Taking action over choosing inaction because of fear will always move you toward a big win.
When it comes to buying, selling and investing in real estate, coupled with changing market conditions, knowing what will yield big wins can make or break your experience. This is why having a competent, seasoned and savvy agent who can provide you with the information you need to help you make the right decision in that moment is so important.
In our next post I’ll be talking about decision making, trust, regrets, ALL the things that make us look deep within ourselves and shift in our seats a little. Sometimes the hard questions that create a little discomfort lead to the biggest opportunities for growth!
What is your biggest fear when it comes to taking action in real estate? If you share below (or reach out via message), we can help you work through those fears and help you get unstuck from that place of inaction.