An HGTV star who's invested in over 100 properties explains why rejection can be a good sign for home buyers
It can be an emotionally draining process, and once you've found the one you love, it's natural to stress over your offer getting turned down.
"You can't fear rejection," HGTV star Scott McGillivray told Farnoosh Torabi on an episode of her podcast "So Money."
In fact, rejection can be a good sign, he explains: "If your offers are not being rejected, you're possibly offering too much."
McGillivray, who has invested in over 100 properties and hosts the HGTV show "Income Property," told Torabi, "Nine out of ten offers that I put in get either turned down or sent back to me."
The important thing is that you put in an offer that you're comfortable with and stick with your budget, no matter how desperate you are to finish the buying process.
As Philip Lang, cofounder of full-service real estate brokerage TripleMint, told Business Insider, "Buying a home is a very emotional process. It's important to remain rational and stick with your price limit while buying. A lot of times people get caught up in bidding wars, and will go way over what their price needs to be because they love the house so much."
Remember, getting rejected is all part of the dance, McGillivray told Torabi.
Plus, it's rarely a flat out rejection: "No means maybe in real estate," he says.