Source: Forbes —
If I had a penny for every time first-time home buyers told me, “this will be my dream home for the rest of my life,” I would be a millionaire by now. Since 2006, I have seen countless people buy homes close to their current jobs, their kids’ school, etc., and they would tell me, “Sam, this is it, I will pay extra for this home and never move again,” only to have them call me the next year, asking me to sell their home as something in their lives changed.
We as humans tend to overvalue immediate convenience over long-term investments for our future. Looking at the past year, I see a lot of similarities between how people buy homes for the first time and how they bought homes during the pandemic. Paramount are the technology trends in the real estate game that made buying easier when in-person meetings declined. From my perspective, these trends are likely to stick around, and tech leaders should be aware that their offerings could continue to impact the way realtors approach selling houses.