What would Warren Buffet do?

For the last 4 issues we’ve been talking about the risk factors, the possible challenges with the economy, and real estate market. Scary stuff, and enough risk and potential problems for most people to stay on the sidelines and avoid moving forward with their real estate plans.

Life is about balance.

While this market might not be for everyone. There are opportunities and ways to minimize risk and exposure to the possible negative outcomes.

Here’s what I know.

Humans are really good at envisioning the worst case scenario. Our sub-conscious is designed in a way to protect us in the long term. We have those genetic memories of being chased by large and hungry predators. Avoiding the obvious outcome has helped us survive and become what we are today. In today’s world, hungry predators are no longer trying to eat us. Instead, they might be trying to bankrupt us, but most of the risks we face are not life and death.

If you’re anything like me, there has to be one or two “coulda, woulda, shoulda” moments in our past that we’d love to have back and play out in a different way. I know there have been a number of those events in my life where I hesitated, couldn’t get past the perceived risks, and let opportunities slip through my fingers. I’m getting better at being comfortable with being uncomfortable. If that wasn’t the case, I wouldn’t have opened my own brokerage 14 years ago and suffered through those early years that all entrepreneurs go through when building their business.

Turns out going out on my own was one of the best decisions I’ve ever made. It’s been a long road and yet the growth I’ve had both in the business and personally is something I wouldn’t want to have missed. The people I’ve met, the agents I’ve coached and mentored, and the experience of growing something are all things I wouldn’t have experienced if I hadn’t taken that first step in a journey of a thousand miles.

Here’s what I do know about the real estate market.

Regardless of the economic conditions, there are hundreds of people in our area that will buy, sell, or invest in real estate every month because they have to and will want to.

When I’m coaching my agents and they talk about a slow market or that all the buyers have disappeared, I remind them of the 8-D’s of real estate transactions.

What are the 8 D’s? These are the people that buy or sell regardless of market conditions. A few of them include Diamonds (newly weds and couples coming together, Diapers because we all know that when families grow they often need more space. There’s Death and estate sales and unfortunately there’s also Divorce. You get the idea. There is always someone that is having a life experience (good or bad) that will necessitate a move. These people can’t and won’t sit on the sidelines, and it’s our job to ensure there’s a market and proper representation for those folks.

Over the past few weeks, I’ve talked a lot about the risk and possible negative impacts the coming months will have on real estate. The other side of the coin is that there will be opportunities for buyers, sellers and investors to step into the market. Some of those buyers may be the new diamonds that have been saving for years and can now afford to jump in because there’s less competition and prices have softened. Some will be sellers relocating because of job changes and promotions!

I don’t know what you will gather from this conversation. But here’s what I hope you take away.

That life will present opportunities. Some of us will see those opportunities and take that first step. Others will remain on the sidelines and may experience one of those coulda, woulda, shoulda moments later on.

Which side of the decision would you like to be on?

Enjoy the Family Day long weekend.

PS: I’m off next week to the Keller Williams Family Reunion, where 15,000 or so fellow Keller Williams agents from around the world will gather to learn, share experiences, and socialize. I’m sure I’ll be back brimming with ideas and more crazy thoughts that my pre-historic relatives would scratch their heads at.

Paul

Appointment Calendar: https://calendly.com/homegrouprealty

Want to search for opportunities in your area?

Search for Homes Here

LISTING OF THE WEEK

9 Wilkie Crescent, Guelph

$969,000

Detached 2 1/2 Storey
3 + 1 Bedrooms
3 Full, 1 Half Baths
Finished Basement
2 Parking Spaces

Welcome to your dream home in the heart of Guelph's charming South End!
This beautifully crafted 4-level gem combines comfort, space, and nature in a way that truly feels like home. As you walk through the front door, you'll feel an immediate sense of warmth come in kick off your shoes and relax. The kitchen is well laid out with ample cupboard space and plenty of room to cook up your favourite meals, all while being open to a cozy dining area that offers serene views of the backyard and a peaceful wildlife corridor that winds behind the property. Picture sipping your morning coffee while catching a glimpse of a deer gracefully strolling by! The main floor is designed for both convenience and entertainment. A spacious living room, perfect for hosting friends and family, seamlessly connects to the dining area. Plus, a handy powder room ensures your guests comfort. Upstairs, you'll discover three generous bedrooms that easily accommodate any lifestyle. The primary suite is truly a retreat, featuring a large window adorned with elegant California shutters that bring in tons of natural light, along with a 3-piece ensuite and plenty of closet space. Venture up to the next level and be wowed by the expansive loft, offering endless possibilities as a bedroom, gym, office, or playroom the choice is yours! The fully finished basement is ready for your vision, there is plenty of space you could put a bed and a recreation area, to top it off, yet another 3-piece bathroom, complete with a shower/tub combo.

Learn more