How to Manage Stress When Negotiating a Real Estate Deal
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Among the distinctive features of modernization is inescapable stress. There exist many definitions of stress. One that stands out is Hans Selye M.D's definition as a non-specific response of the body to a demand. In simpler terms, it is what happens to your body when you are thrown out of your comfort zone.
From the workplace to the school corridors to people's homes, stress seems to be wrapped up in every package. Not unless you are dead, it is inevitable.
The real estate world is an example of a work environment where stress has become rampant. The long and complex processes involved in negotiations and property purchases often leaves people emotionally drained, lethargic, and mentally fatigued.
How Negotiating a Real Estate Deal Causes Stress?
Negotiating a real estate deal is as emotional as it is psychological. With so many things that can go wrong, it's not uncommon for you to become anxious and stressed along the way.
The asking price may be too high. Down payment may be way above your budget, and the lenders may reject your loan. You may discover defects in your soon to be property. Sellers can be rude, unreasonable, and combative. Your agent may have poor communication skills and fail to meet your expectations.
All these are perceived imbalances between demands and an individual's ability to meet them. Whenever they arise, the body releases a physiological reaction, which often culminates into anger and aggressiveness.
But even with all the things that could go wrong, you should not give stress the chance to weaken your heart. By taking steps to manage your emotions and recognizing when things become a little too overwhelming, you can remain at the top of the situation until the negotiations are completed.
What Can You Do About It?
1. Cognitive Restructuring Techniques
Even mild stress has the potential to make you lose control of your emotions. This explains why scientists recommend cognitive restructuring techniques. The technique involves encouraging a patient to alter their approach to a situation to change their reaction to it. One way of accomplishing this is by focusing on the positive aspect of the situation and freezing aspects that might cause fear and anxiety.
2. Physical Exercise
Besides strengthening the cardiovascular system, exercising three times a week has been found to reduce stress levels significantly. A recent survey on a group of caregivers revealed that exercising lowered levels of perceived stress and improved the behaviors of caregivers.
3. Sign a Trust Agreement
Protecting your assets from liability should be of top priority when negotiating a real estate deal. Sign a trust agreement to have your property registered under the ownership of a reputable legal entity even as you maintain ownership. This way, you will not only be protecting yourself from lawsuits but also shielding yourself from stressful ordeals that come with opportunistic legislators.
A study by the University of Oregon showed a significant reduction in cortisol release when participants engaged in meditation. Cortisol is the stress hormone your body releases whenever there's a perceived threat or external pressure. Meditation has a relaxing effect on the sympathetic nervous system, which increases blood pressure, breathing rate, and heart rate during times of stress.
5. Enough Sleep
Sleep is a natural and non-pharmaceutical remedy to stress. Scientists have observed a strong connection between deep sleep and reduction of stress. By reorganizing connections in the neurons of the brain, deep sleep serves as a natural stress inhibitor so long as you can get it daily.
6. Avoid Alcohol
Drinking alcohol is associated with higher levels of cortisol production in humans. Prolonged elevated levels of cortisol can result in increased vulnerability to some situations that can damage the neurons. Alcohol consumption before a real estate negotiation may also result in poor judgment.
7. Healthy Eating
However, exquisite a meal is, eating causes oxidative stress. As you digest your food, your body produces toxic free radicals. Eating fruits and vegetables helps to neutralize the free radicals, consequently lowering your oxidative stress levels.
For every breathing soul, stress remains an inevitable emotion. Trying out these seven realistic and proven techniques will minimize the adverse effects of stress on your health and improve your negotiation skills during a real estate deal.