South Jersey Real Estate Agent: How to Defeat Buyer’s Remorse
Channel: The Quintin Group
Date: 2016-09-14

A lot of people in the real estate business sometimes suffer from something called “buyer’s remorse.” Buyer’s remorse is something you feel when the euphoria of living in a new home gets replaced by the financial reality of buying it. This anxiety is normal. Fear will always creep into our minds during major life sequences. To find out how to overcome buyer’s remorse, watch this short video. 

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TRANSCRIPTION:
What is buyer’s remorse? How can you overcome it?

If you’re a buyer and you’re looking to buy a property, it’s natural to start thinking about all the things that are important to you in life.

One of the things I always recommend at this point is to get a piece of paper and draw a line through the center. Then, list all the positives and negatives of the upcoming purchase. After that list is complete, put it aside and save it for later. 

After you’ve started looking at properties and have found a home that correlates with all your needs, let’s say you make an offer and it gets accepted. Just when you’re ready to break out the champagne and celebrate, you get a call from the mortgage company. They need a rather large deposit. That deposit amount makes you question whether you can really afford the house. In fact, it makes you question a lot of things, and not just about the house. 

This is buyer’s remorse.

In the real estate market, everyone is going to get remorseful at some point. It doesn’t just affect buyers, but sellers too. To those experiencing buyer’s remorse, I say this: get that piece of paper back out. You started this process thinking logically according to what was important to you. Read over that list again and remember why it was important to you in the first place. Let all those positive thoughts come back to you. 

Fear will always creep into our minds no matter what the situation. Unfortunately, everything we always want is usually hiding on the other side of fear. That fear is our mind trying to protect us from getting hurt. That list will help you overcome that fear. It will help you break through your buyer’s remorse and understand why you made the right decision. 

If you have any questions or are thinking about buying or selling a home, give us a call or send us an email. We look forward to hearing from you!