After 5+ years and nearly 30,000 conversations, we’ve heard the same questions over and over. And honestly? Most people asking these questions aren’t actually ready to buy or sell real estate yet.

That’s not meant to be harsh – it’s meant to save you time, money, and frustration. We love ya’ll and we can’t stress enough how much we all want everyone to be home owners.

We think that owning assets is the key to generational wealth. But we also have to be real and honest with everyone. Would you rather us be nice and basically lie to you, or be honest and give you real advice that may set you up for real long term success?

Here are the questions we get daily, along with the answers most people don’t want to hear but need to.

1. “I’m Looking to Buy/Sell a House in 6-12 Months. I Need a Realtor Now.”

No, you don’t need a realtor just yet.

You’re excited about buying or selling. You want to “establish a relationship” with an agent. You think getting started early shows you’re serious.

But here’s the reality:

Why 6-12 months is too early:

• Pre-approval letters expire after 90 days
• Market conditions change every few months
• Home prices shift constantly
• Available inventory changes weekly
• Your life circumstances might change

What you should do instead:

• For buyers: Improve your credit score, save more money, research neighborhoods online
• For sellers: Start decluttering, research recent sales in your area, get your finances organized

When to actually contact an agent:

• Buyers: 1-2 months before you’re ready to make offers
• Sellers: 3-6 months before you want to list

The “relationship building” myth: Good agents are busy closing deals. They don’t have time to hold your hand for a year while you “maybe” decide to buy or sell When you’re ready, they’ll be ready too 🙂

2. “I’m Relocating to a New City. Should I Buy a Home There?”

Probably not, at least not right away.

We covered this extensively in our relocation article, but since we still get this question all of the time so here’s the short version:

Rent first if:

• You don’t know the city well
• You’ve never lived there before
• You’re not sure about neighborhoods
• Your job situation isn’t settled
• You haven’t visited multiple times

Buy immediately only if:

• You’re moving back to a city you know well
• You have family/friends there to guide you
• You’ve visited the specific neighborhoods multiple times
• You’re 100% certain about the area

Why this matters: Location is everything in real estate. Buying in the wrong neighborhood because you didn’t know better is a $50,000+ mistake. Paying rent for 6-12 months while you learn the area? That’s just smart.

Bottom line: Moving is stressful enough. Don’t add the pressure of buying a house in a place you don’t really know yet.

3. “I Want to Buy Land But I Don’t Have Cash. How Do I Pay for It?”

Here’s the harsh truth: If you don’t have cash, you’re not ready to buy land.

Land purchases are completely different from home purchases:

Why land is different:

• Most lenders won’t finance raw land
• Those that do require 25-50% down payment
• Higher interest rates than home mortgages
• Shorter loan terms (5-10 years, not 30)
• Stricter qualification requirements

Your options (all require significant cash):

1. Save up and pay cash (most common)
2. Owner financing (if seller agrees)
3. Land loans (25-50% down minimum)
4. Home equity loan (if you own another property)

What you need before even thinking about land:

• 25-50% of purchase price in cash
• Excellent credit score (740+)
• Stable income for 2+ years
• 6+ months expenses saved separately
• Clear plan for what you’ll do with the land

Bottom line: Land isn’t a starter real estate investment. It’s for people who already have significant cash and real estate experience. If you’re asking how to finance it without cash, you’re not ready.

4. “I Need a Realtor But I’m Not Pre-Approved Yet”

Stop. Go get pre-approved first.

Remember, realtors help you buy a home but lenders help you pay for it. A realtor will connect you with a lender to get pre approved before starting to work with you. Have a pre approval letter? Great, you’re ready to get started.

Specifically, here’s an easily digestible way to think about this.

Why this is wrong:

• Realtors help you buy homes
• Lenders help you pay for them
• You can’t do the first without the second
• You’ll look at homes you can’t afford
• Sellers won’t take your offers seriously
• You’re shopping without knowing your budget

What happens when you do this backwards:

1. You waste weekends looking at houses
2. You fall in love with homes outside your price range
3. You make offers that get ignored
4. You scramble for financing when you find “the one”
5. Deals fall apart because you can’t actually get approved

The right order:

1. Get pre-approved first (takes 1-3 days)
2. Know your exact budget and monthly payment
3. Then contact a realtor
4. Shop within your approved range
5. Make competitive offers that sellers take seriously

Bottom line: Would you go car shopping without knowing how much you can spend? Of course not. Same logic applies to homes, except the stakes are 10 times higher.

5. “I Want to Make Multiple Offers on Different Houses”

Bad idea. Don’t do this.

We see first-time buyers think they’re being smart by making offers on multiple properties at once. Here’s why it backfires:

Why this doesn’t work:

• You can only get one mortgage at a time
• If both offers get accepted, you’re in breach of contract
• You could lose your earnest money on both deals
• It’s unethical and your agent won’t do it
• Word gets around in real estate circles fast

What to do instead:

• Make one strong offer on your top choice
• Have a backup property identified
• If your first offer gets rejected, move to the backup
• Focus your energy on winning one house, not spreading it thin

The right strategy: One offer at a time, but make it your best offer. Price it right, get the terms right, and move quickly.

6. “I Want to Buy the Cheapest House in the Area and Fix It Up”

Unless you’re an experienced contractor, don’t.

First-time buyers love this idea because they think they’re being smart. Here’s the reality:

Why this usually fails for first-time buyers:

• You have no idea what renovations actually cost
• You underestimate the time and stress involved
• You’re learning to be a homeowner AND managing renovations
• Cheap houses are often in less desirable areas
• Hidden problems always cost more than expected

What actually happens:

• $10,000 budget becomes $25,000
• 3-month timeline becomes 8 months
• You’re living in a construction zone
• Permits, inspections, and contractor issues
• Your “deal” ends up costing more than buying something move-in ready

Better strategy for first-time buyers:

• Buy the best house you can afford in a good neighborhood
• Look for homes that need cosmetic updates, not major repairs
• Save the fixer-upper for your second home when you have experience

Exception: If you’re handy, have renovation experience, and extra cash for surprises, go for it. Or maybe this is an absolutely amazing neighborhood and the deal is just too good to pass up no matter how much the renovation costs. Otherwise, buy something you can live in while you learn to be a homeowner.

The Bottom Line: Most People Rush the Process

Here’s what we’ve learned from 30,000 conversations: Most people are in a rush to do something they’re not ready for.

Real estate is the biggest financial transaction of your life. It deserves more preparation than you’re probably giving it.

Before you contact ANY real estate agent:

For Buyers:

• Get pre-approved (not pre-qualified)
• Have 6 months of expenses saved
• Know exactly which neighborhoods you want
• Be ready to move within 1-2 months
• Understand that “perfect” doesn’t exist

For Sellers:

• Know what you’ll do after you sell
• Have realistic expectations about price and timeline
• Understand your local market conditions
• Be ready to make repairs or price accordingly
• Have a plan for showings and disruption to your life

The agents we work with appreciate prepared clients because prepared clients close deals. Unprepared clients waste time, create stress, and often don’t end up buying or selling anyway.

Ready to Do This Right?

If you’re truly ready – meaning you’ve addressed the issues above and you’re prepared to move forward in the next 1-3 months – then we’d love to connect you with an agent who will appreciate your preparation and help you succeed.

If you’re not ready yet – that’s okay too. Take the time to get ready. Your future self will thank you for not rushing into the biggest financial decision of your life.

Visit our website when you’re actually ready to move forward. Not when you think you might be ready someday. When you’re ready to take action.

Gideon Wambia

Gideon is a licensed real estate agent. He he holds an undergraduate degree from Northwestern University and an MBA from New York University.

He’s passionate about business, real estate, digital marketing and making sure that black people increase our collective net worth.

License #:10401336627