Moving On After Real Estate Rejection

We promise that even though this week’s blog features the unfortunate ‘R” word… it’s not the house hunter’s edition of ‘He’s Just Not That Into You.’ Rejection is a part of virtually every real estate transaction at one point or another. Whether your offer gets rejected, whether your loan program is a no-go or you have trouble agreeing on a rent back amount, not every question gets a rave response.

The good news is that rejection is NOT the end of every great love story... especially when it comes to the housing market in Silicon Valley. While the infographic above from the California Association of Realtors provides a few reasons for rejection and lessons learned… here is our best advice for Bay Area buyers…

Manage Your Expectations

In reality, this is the role of your agent and one we take very seriously. We want to give you every opportunity to win – but we also will tell you exactly what that looks like in the market we are in and the neighborhood you want. We cannot control who else shows up at the offer table – but we can perform our due diligence and walk you through what the situation is for EVERY home you set your hearts on. Seeing the possibilities clearly sets the stage for how things may play out.

Communicate Clearly

Your lender and agent should be nearly joined at the housing hip by the time this transaction is done. Making an offer that wins is ONLY as good as making one that can be delivered. If you need to increase your qualifying amount, paper trail that down payment or offer an aggressive contingency – know the difference between sweating at the finish line or running out of water and never crossing it….

Rely On Relationships

When everything else is equal (money, terms and buyer strength)… the listing agent often picks who they want to get this deal done with. Who they trust. Who will do what they say they are going to do. Who will answer their phone and keep up a proactive approach. We are always thrilled when we walk in that door and the listing agent shakes our hand and says they can’t wait to work with us again… because we know that gives our buyers the very best chance of being truly seen.

Last but not least… not every rejection is a bad one. While it’s heartbreaking, stressful and no one’s idea of fun – it IS also the perfect time to re-prioritize, regroup and remember why you are in this journey. Nearly every buyer looks back and sees why they ‘lost’ out on a former home as soon as they find their current one. We hate to say what will be will be… but we do have enough decades of experience to say that you will get to exactly where you want & need to be. And we will be right there celebrating with you!

~ Mark & Jason