DAYLIGHT SAVINGS TIME AND REAL ESTATE

If you are like me you were not excited to turn the clock forward and say goodbye to that one hour of sleep you lost this morning.  There are a few people you would like to throw your pillow at to show your frustration, but they are long gone and won't feel your angst.

There is a word of warning though for those who are involved in real estate transactions that might be worth exploring.  So here goes, "What is the impact of Daylight Savings Time on Real Estate?"

Glad you asked....

According to two Cornell University researchers, "Even mild changes to sleep patterns can affect human capital in significant ways."  If you are a new parent you understand this concept instantly.  As a result of the disruption of your "normal sleep pattern" you find yourself a bit off while you make the necessary adjustments to your lifestyle.  

How Does This Impact Real Estate?

1. Real estate transactions are highly emotional.  It does not matter whether one is selling a house or an apartment, during the first few days following DST change the general feeling of being "off" only goes to heighten the emotional charge in the transaction.  

2. Real estate transactions are rooted in negotiations by both sides.  Heightened emotions often overtake logic and reason and create roadblocks that can derail effective negotiations.  Today is certainly not the most productive day to begin negotiations on a real estate deal.

Okay, what should you do?  Besides pulling the covers over your head and burrowing into your pillow for a "little more sleep".  Wait a few days for your circadian clock to make the adjustment to the time change.  If you don't have that luxury, you need to remain aware of your "heightened emotional state" and that of those you are negotiating with then adapt your negotiating style to accommodate.

Remember, just about the time you think you have everything under control from the change to Daylight Savings Time; fall will be here and we'll do this all over again as we revert to Standard Time and "revel" in that lost hour of sleep. Till then...sweet dreams!