Introduction

Imagine standing at the edge of a large forest. Your new home is waiting for you on the far side, but you’re uncertain how to get there. Between here and home, there are countless winding paths that might lead you in the wrong direction. Guides step forward, offering you help, but you’re not sure if you can trust them. You don’t know this forest well enough to navigate the hidden dangers, and you sense that a single misstep could cause a disastrous fall. You need to get through this forest if you want to make it to your safe haven—but how can you make sure you do so successfully?

For many, this sums up the anxiety that arises when you prepare to buy or sell a home. You’d prefer a straight path through that forest, but that’s rarely the norm. You want transparency from the people you deal with, and you want to be alerted if you’re about to make a bad move. Is that too much to ask?

No, it’s not—which is why we’ve written this book.

Dangers on the Journey

Unfortunately, it’s easy to get lost or hurt in the world of real estate. Navigating all the various steps requires tons of information and expertise—much of which you likely don’t possess. The real estate industry can feel opaque and full of barriers: banks, loans, title work, contractors, inspections—it’s no wonder most people experience general confusion. There are plenty of people eager to “guide” you through the forest, but how many of them actually know the best paths? How many of them are wolves dressed in sheep’s clothing, eager to make a buck even if it’s at your expense? The pressure is high, too; we’re talking about the place your family will create a home and one of the largest financial decisions of your life.

If you’ve never bought or sold a house before, you may feel hopelessly naïve. For those who have, your experience may have been negative, which can exacerbate the fear, suspicion, anxiety, or bitterness you might be feeling. You may not feel like you know enough, and you’re not confident about who to trust. As a result, you might feel stuck from ever stepping forward—or plagued with anxiety every step of the way.

Help along the Way

Now: imagine if someone handed you a tactical field guide to navigate this forest. Inside is a map highlighting the different routes available. There are descriptions of the pros and cons of each different option, along with insider tips alerting you to hidden dangers and directions to discover the best views. You’ll also get recommendations on how to choose guides who know the intricacies of the forest, will advocate on your behalf, and look out for your best interests.

With the guidebook in hand and trusted guides at your side, the scenario ahead would seem radically different. Instead of feeling plagued by fear, you’d be able to relax and open your eyes to the beauty around you.

That’s what we want to give you with this book. We know this industry inside and out, and we’re ready to guide you through it. Why? We’ve realized that one of the best ways for us to live meaningful lives is by using our professions to bless others. As we’ll share in a moment, we’ve both experienced the soul-sucking emptiness of doing real estate in a way that focuses on making money as the sole priority. We’ve also experienced the incredible privilege of guiding people through the home-buying or home-selling experience that blesses everyone involved. At heart, we are educators—and we’re eager to equip our readers so that they can have the fulfilling experience we all want.

What You’ll Learn

We’ve divided this book into two sections: Part 1 is for people preparing to buy a house, and Part 2 is for those preparing to sell. You may need the information in both parts simultaneously—such as if you’re preparing to sell your current home and immediately buy a new one—or you may find these two sections relevant at two totally different stages in your life.

We invite you, therefore, to use the book as best suits your needs. You can skim the highlights, or you can read it cover to cover, gleaning every last nuance from the stories we’ve provided. You can read Part 1 now, as you prepare to buy your first home, and read Part 2 years later when you’re preparing to sell it. We’ve tried to provide you the flexibility you need to reap the maximum benefit in your circumstances—whether you need to absorb this information in a hurry or are ready for a close read.

Still, regardless of where you are in the process, you’ll find that the experience of home-buying and selling contains a journey: there’s a beginning, when you first decide to buy or list your home. There’s a middle: if you’re a buyer, that’s looking at homes and making offers; if you’re a seller, that’s preparing your home for the market and effectively listing it. And finally, there’s an end: contract to close. Along the way, you need good people beside you who will actively work for your best interests. With all that in mind, here is what you will learn from this book:

• Buy, sell, or rent? For buyers, we’ll discuss key points to consider about whether you should buy or if renting makes more sense. For sellers, we’ll discuss the pros and cons of selling your property versus leasing it out as a rental.
• The importance of mindset: homeowner versus investor. Some people only evaluate a property in terms of how it might feel to live in; that’s the “homeowner” mindset. Others view properties only in terms of their potential profit; that’s the “investor” mindset. In order to make a wise financial decision that will bless your family, you need to think like a homeowner and investor. We’ll explain why and how.
• Find your guides: choosing a good real estate agent and mortgage lender. Having the right people around you makes a world of difference as you navigate home ownership. We’re going to provide recommendations about the qualities you should look for to ensure you choose good guides for the journey.
• Financing: understanding the tools and timing. As a buyer, there are a number of financial tools you’ll want to be familiar with to maximize the opportunities available to you. As a seller, it’s critical that you “tee up” your financing so you can sell your current house and also buy your next home.
• Evaluating the property. We’re going to walk you through how to closely examine a house and property, so you know exactly what kind of property you’re dealing with, its relative quality and condition, and how those variables should impact price.
• Evaluating the price. In addition to the quality of the property, there are other major factors that impact a list price, like interest rates, market inventory, timing, comparative market values, and so on. We’ll explore each of these and explain how these factors can impact your negotiating power.
• Negotiate: it’s not just about money. To negotiate well, it’s critical to consider the motivations of the buyer and seller. With some, you should be shrewd and hard-nosed; with others, you should be affirming and gentle. We’ll teach you how to use the information you have to create a win-win scenario for everyone involved.
• Contract to close: navigating the final hurdles. After a contract is agreed on, buyers and sellers still need to leap over three hurdles: the inspection, the financing, and the title transfer. We’ll discuss what needs to happen for each hurdle and reiterate the importance of having good people on your team.

We want to empower you with information so that you find a clearly marked path through that forest. We want you to have clarity about what you need to do, and what your team members need to do. The end result: you’ll feel protected and informed. Rather than fearing a venture into the unknown, we want you to enjoy the journey and successfully get to where you want to be.

REAL Experienced

The real estate world is full of suspect guides—so how would you know we’re not two of them? We’ll give you a few reasons.

One: unlike a buyer’s or seller’s agent who stands to make a hefty commission off your real estate transaction, we’re not financially entangled in your situation. We simply want to pass along the best advice so that you can make wise decisions for your own personal situation.1

Two: we feel genuine pain and frustration when we see real estate professionals lead consumers astray. Unfortunately, it happens all the time—mostly due to simple inexperience on the part of the real estate agent, but sometimes it’s worse. It’s not uncommon to see clients being taken advantage of because their supposed “guide” stands to financially benefit from their naivete. On the flip side, we’ve both experienced joy and fulfillment by teaching consumers how to be savvier as they navigate the real estate process. This book is a passion project for both of us to spread that education...