Ten Great Ways to Reduce Stress During a Real Estate Transaction

By Ron Rovtae
LoKation Real Estate
Boulder County CO

303.981.1617

Real estate transactions are stressful! No question about it.

Here in Colorado, a state-approved purchase agreement with unremarkable “additional provisions” runs 16 pages or more. There are multiple stipulations, deadlines, disclosures, inspections, mortgage concerns, an appraisal and other important tasks and events.

There also are many people involved –– real estate agents, a mortgage broker, a mortgage underwriter, a hazard insurance broker, an appraiser, inspector(s), a closer and other title insurance company personnel.

It boggles the mind!

But you don’t have to go crazy keeping up. 

Each contractual stipulation exists for a good reason. Collectively they ensure your deal is wrapped up as pretty and neat as one of Grandma’s special birthday gifts.

So, while these tasks may seem onerous, time-consuming and/or confusing, they also offer you a high degree of security.

As for all those people? They handle many necessary chores. Don’t hesitate about asking for enlightenment when you do not comprehend what they are doing –– or why. Understanding the process can reduce stress all by itself.

Additionally, you can take a number of simple steps to reduce stress on your own.

Here are ten great suggestions:

1) First and foremost, take care of yourself. Get enough sleep. Eat healthy meals at regular times. Take time for important relationships. Do whatever you normally do to relax or blow off steam: run, walk, hike, meditate, arrange flowers, read a book, play your favorite sport, have a good laugh, or even a good cry, if necessary.

2) Never hurry major decisions. And don’t let anyone hurry you. If you are not sure a proposal works for you, or if you and your partner see an issue differently, take the time to sort out your feelings or work out a compromise.

3) Make important decisions when you are rested and mentally focused. For most people, this is in the morning, but not first thing.

4) Talk to your real estate agent at least once a week, more often if much is happening. Your agent should initiate regular conversations. But you can and should call when the need arises. Between calls, write down questions when they occur to you and keep a list where you can access it next time you talk to your agent. Informed buyers and sellers sleep much better.

5) Read everything. E-v-e-r-y-t-h-i-n-g! Then think about what you’ve read. Talk to your REALTOR®. Where necessary, talk to another expert. Get satisfactory answers to all your questions. Then reread everything before signing anything. Mistakes and surprises are really stressful. They often occur simply because a party to the transaction did not fully understand something that person agreed to, usually in writing.

6) Be clear about the difference between what’s in your best interest and the negotiating positions you’ve chosen to achieve your interests. Such flexibility lets you negotiate creative solutions without sacrificing your best interests. For example, a buyer may want inspection resolution work completed at closing, but may get a better result if money is provided to finish a job afterward when the buyer can better monitor quality and appearance. (Note: buyers applying for a mortgage need to talk to the lender before arranging something like this.)

7) Rely on friends, neighbors and family. Send the kids to play at a cooperative neighbor’s house. Ask a friend to pick up a few necessities during a regular grocery trip. Invite a close acquaintance out for a relaxing coffee break. People understand the stress you’re under. Most will happily help.

8) Don’t panic if you experience buyer’s or seller’s remorse. Take a deep  breath and reflect on your reasons for getting into this deal. Remind yourself about what you will accomplish by moving. Then sleep on it. Usually, you will feel better. If you still have serious misgivings, then talk your real estate agent as soon as possible.

9) Reward yourself for major accomplishments such as getting your home into selling condition or negotiating a purchase contract that makes sense for you. Treating yourself after passing a milestone will help you release stress that built up while achieving the milestone.

10) Close the deal as quickly as reasonably possible. Time is erosive to deals. It often seems as if the number of problems arising during a contract period is proportional to time spent under contract. So it usually pays to move things along with prudent swiftness.
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Ron Rovtar, has been a leader in Boulder County residential real estate for more than a decade. He is a broker associate LoKation Real Estate in Boulder, CO. Ron can be reached at 303.981.1617. Or you can E-mail him directly. To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out Ron's facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd. 

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