A widely accepted belief and Metamorphosis key principal of success states that:
“People learn through spaced repetition.”
In other words, when you hear or do something over and over again, it becomes a standard accepted belief or practice. To talk about spaced repetition, for five years now, every buyer has been told in virtually every media release, “prices are dropping”, “don’t pay too much” and “you can steal it”. During the same period, sellers have been told to focus exclusively on, “don’t give it away”, “don’t sell too cheap” and “don’t lose money”.
The truth of the matter has always been that price is only one consideration and that the value of real estate or anything else for that matter, is determined by what someone is willing to pay for the product or service. The reason everyone works so hard in the first place, is primarily due to the quality of life that is provided by the income generated from working. You can never be truly happy by focusing exclusively on price.
The most compelling question that every buyer and seller must ask themselves and personally answer is:
“if you were to buy (or sell) today, what would it mean to you?”
The answer to this question will determine a buyer’s or seller’s priorities in life. Most often, their highest priorities are not money focused. For example, a seller may be selling to move closer to family members or good friends. A buyer may be buying to be in a school system that will provide the best possible education for their kids. In many cases, the value received by making the decision to buy or sell, is priceless. This means that too heavy a focus on the money part of the decision can be both foolish and detrimental to the decision maker.
The time to answer this critical question is before any important decision to buy or sell is made. Every agent should help buyers and sellers take the focus off of money exclusively and put it back where it really belongs, on the quality of life.