On today's episode, Matt and Garrett talk about regrets and not just any kind of regrets, home buying regrets. The discussion is inspired by an article regarding a study that reported 64% of millennial homeowners who've bought a home during COVID have regrets. This is an article where you have to really dig down into the details, rather than just accept the headline, and that's precisely what our hosts do here today.

They begin by looking at the actual reasons for the regret, and then highlight the need for that all important buyer interview process right at the start. Matt and Garrett also delve into the 80/20 rule, the importance of narrowing down what is truly important to the buyer, and the differing levels of regret among different generations. Overall, they highlight the fact that if you focus on your relationships and stay in good quality flow with your people, you will be able to have plenty of business, whether people regret some element of their home or not.

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Episode Highlights:

64% of millennial homeowners who've bought a home during COVID have regrets.
Understanding where the regrets are coming from.
How do we mitigate these regrets?
The pros and cons of rental and homeownership.
Talking to clients about the 80% perfect home as opposed to 100%.
The buyer interview process.
The evolution of what comes along with homeownership.
The highest category across the board

Quotes

"You're going to make some compromises, even if you have unlimited funds because you also are dealing with whatever is currently available. Your dream home may be down the street, but somebody is kind of living in it. So you can't really kick them out and take over."

"People are more likely to find 50% of what they're looking at right now. But really, the 80% rule, that idea is just putting that concept in their mind that finding the 100% home is probably not what's going to happen."

"Everyone has a regret of something that they did or how this home works for them. As an agent, we need to understand that we're not going out to find somebody a perfect house."

"For your clients, you're giving them the ability and the confidence to buy a home and love it."

"And that's the beauty of the two pieces of paper, really brings to light what are the things that are really important because that allows you to search for the right stuff, not everything that they've dumped on you and told you about."

"They highlight that homeownership still ranks at the top of the list in terms of being a part of the American dream."

"It gets interesting how data can be twisted, how the messages can be twisted. If you're going to be educated on sharing this type of information, you need to go and read into it further and not just look at headlines."

"If you're jumping from this headline to that headline and adjusting your business based on that, you're going to wear yourself out. Focus on the relationships, have fun with the headlines, enjoy them, read the articles, and read more into the data."

"I want you to go from the life you have and go to that life you're looking to have, that you dream about, and make sure that we are keeping our search focused, so you don't miss out on anything."