| The rules were clear. Carry enough water and food, hike only in teams of 4 or more, ensure you make noise and have bear spray at the ready.
There was risk hiking in the back country of Banff, Canada, but to experience Banff, we had to take some risk. Life. Real Estate.
A recent Open-Door survey of home buyers revealed buyers’ top two concerns when buying a home:
1. 41% are concerned if they can find a home within their budget.
2. 38% are concerned about paying too much for a home.
Concerns about risk; home-buying risk.
I studied the pamphlets and reviewed which bear you stood tall for and for which you played dead. I got comfortable with the use of bear spray. If I wanted the reward – hiking – I had to manage, not eliminate risk.
 When starting out on the home-buying trail, many buyers are overconfident in their knowledge of real estate and finance (#1) or have no confidence at all (#2). Either makes for a bad decision-making process.
The real risk of #1 is not knowing what you don’t know. Addressing your concerns through questions and answers is the equivalent of the bear pamphlet.
Absent a trusted advisor, questions don’t get asked, answered, or researched and you risk doing nothing. You fail to meet your goal or worse yet; you are sold something without being fully informed.
Not getting answers, not understanding, is the equivalent of hiking without food or water, alone, silently and without bear spray. You may get eaten alive.
Paying too much for a home (#2) is a real risk. Buying the wrong home is a greater risk.
 I’ve attended real estate seminars where I’ve heard “buyer agents” say getting the home for clients makes them a good buyer agent. No, no, no.
Sometimes being a good buyer agent, at least a good Exclusive Buyer Agent, means not getting the home. The home may be way overpriced or have too many problems or requires waiving an inspection (never do that). Don’t buy the wrong home. Addition by subtraction.
 As with my Banff hike, when starting to look at homes be aware: do some research, (food/water) ask questions, (make noise) and have the real estate equivalent of bear spray (an Exlusive Buyer Agent) at the ready.
If you feel rushed, if you aren’t getting timely answers to your real estate questions, if the market value analysis of a home is not understandable – grab the real estate “bear spray” and protect yourself.
A smart buyer manages risk by using agents who only work for buyers – that’s us by the way – and who, through effort and education, have earned the buyers’ trust.
I don’t say this to be self-serving or as a marketing tool. Buyers deserve a resource that will answer their questions and educate them along the way while working in a fiduciary capacity.
So, bear with me. As the only Exclusive Buyer Agency in the four-county area – and the most experienced buyer agency in Wisconsin, (We’ve helped over 1,800 homebuyers.) I think Seamus, Mike and I are good guides.
Whether you rent or own, take a walk outside. Get some exercise. Think about your housing goals/objectives. No harmful bears in the four-county area that I’m aware of, but just in case, if you need a guide, you have our number.
In my next news/blog I’ll discuss worth…a young me and real estate.
———————- And remember, while we don’t sell, if you are considering selling and buying, contact us for an objective discussion of the market and how best to sell – and buy – while limiting risk.Thanks for reading,
Michael D. Holloway
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