Why Some Buyers Aren’t Happy With Their Journey — And How to Avoid Those Mistakes
Buying a residential home or a lake home in the Brainerd Lakes Area should be an exciting, rewarding experience.
However as a broker I have certainly met many folks with past experiences as buyers who, in the end, were not happy with their journey. Buyer mistakes can be costly and heartbreaking. I always say, money can be lost just as easily as it can be made in Real Estate.
My goal with every client is to make sure you don’t end up in that position.
And as I always say: you will never get an ounce of pressure from us.
I’d much rather have a buyer look at 10 or 15 properties, get perspective, feel comfortable, and pick the property that’s right for them—not the property an agent pushes them into.
That said, real estate can also be a fast game of poker. Properties still go quickly, especially lake homes. We’ve had full-price and cash offers the day listings hit the market. The key is knowing when to move fast and when to slow down.
Below are the biggest places where slowing down matters.
1. Start With a Loan Officer—Before You Fall in Love With Anything
In the last year, I’ve had several situations where buyers got emotionally invested in a property before sitting down with a lender.
One example:
We showed a couple multiple properties, they fell in love with one, and only afterward did they sit down with a loan officer—then discovered they couldn’t buy. No hard feelings at all, but it was heartbreaking.
Another recent situation happened on a lake home I had listed. I was the listing agent, and the buyer came through absolutely confident they were ready to go. They were excited, envisioning themselves in the home, and were ready to write an offer. Two days later, after meeting with the loan officer again, they called me back—embarrassed—and said:
“Mike, we actually have to sell one of our other properties first. We can’t buy until next spring.”
They truly thought they were good to go. But it was avoidable.
Know exactly where you stand financially before you start shopping.
It prevents wasted time, disappointment, and emotional letdowns.
2. Don’t Fall in Love With the First Property
Sometimes the first home is the right home—but it’s still important to stay grounded.
I’ve seen buyers get overly emotional and decide:
“We’re making this work no matter what.”
That’s where mistakes happen.
And for the record, a buyer’s agent is not just someone with a key who opens a door and writes the purchase agreement.
These days some buyers think that’s the whole job. It’s not even close.
A good buyer agent brings experience, market knowledge, negotiation skill, lake expertise, contract understanding, and a duty to protect you.
In Minnesota, buyer agents have legal fiduciary duties, including:
Loyalty – acting only in your best interest
Obedience – following your lawful instructions
Disclosure – telling you all material facts
Confidentiality – protecting your private information
Reasonable Care – using skill and diligence
Accounting – handling all funds properly
A good agent (or a newer agent backed by an experienced broker) uses these duties to help you make calm, informed decisions—even when emotions are running high.
3. Never Skip the Home Inspection
Skipping inspections became trendy the last few years, but I’ve never encouraged it.
I work with some of the toughest inspectors in the region.
Do they kill deals sometimes? Yes.
But I’d rather lose a deal than see a buyer make a mistake.
A good inspection gives you:
A clear picture of current issues
A 40–50 page report with photos
A roadmap of future repairs
It becomes a homeowner’s manual—and a safety shield.
4. Think About Resale Even If You Aren’t Planning to Sell
Not everyone buys with an exit strategy in mind. But life happens.
I had a seller last year who bought a lake home with her husband as their dream retirement property. Life changed, she had to sell, and even with my aggressive pricing and marketing, she took a $200,000 loss.
Why?
They were excited and overpaid—nearly double the county assessed value.
Your agent should prevent that.
Not encourage it.
And unfortunately, too many agents in this industry manipulate situations just to get a deal done and get paid.
A good agent should slow you down, protect your interests, and give you honest advice—not pressure.
5. Use Your Contingencies — They’re Your Open Doors
Contingencies exist to protect buyers.
Your two biggest “open doors” are:
Inspection contingency
Financing contingency (tied directly to the appraisal)
The appraisal is one of the best safeguards you have—it keeps you from drastically overpaying.
6. If You’re Buying a Lake Home — Understand the Lakes
This cannot be overstated in the Brainerd Lakes Area.
Most buyers go on the same journey:
Start by looking at the big premier lakes
Realize the budget stretch
Explore smaller lakes with nicer homes
Almost everyone eventually has to choose between:
a more modest home on a premier lake,
or
a nicer home on a more modest lake.
There are 30–40 lakes in play depending on your price point.
A knowledgeable buyer agent should provide:
Lake profiles
Value and resale trends
Shoreline/DNR considerations
Neighborhood and use restrictions
Comparable sales
Investment potential (when relevant)
And when possible, they should slow down enough to help you make a measured, informed choice—unless the situation calls for immediate action.
Final Thoughts
I hope this brings clarity and perspective as you begin your buying journey. Whether you’re purchasing a residential home or a lake home, slowing down in the right places—and moving quickly when needed—can make all the difference.
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And of course, reach out anytime.
My name is Mike Fish, Broker/Owner of Minnesota Real Estate & Management.
We would love the opportunity to earn your trust and your business.
