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Preventing Buyer or Seller Remorse

 

Anyone being in Real Estate for any length of time has experienced either buyer or seller remorse.

Not possible to prevent, but there are a few steps you can take. 

 

buyer seller remorse

 

Do not rush anyone into a decision, not even in a hot market, with multiple bids. It can come back to bite you.

Ask questions and ask more questions.

Are you sure you want to move forward? What if you lost this property?

Who else do you need to show the house? What if your decision is questioned?

Almost try to talk them out of the purchase or the listing to make sure they are ready.

Are both 100 % they want to move forward? If someone can be talked out of selling, they need to be! Same with buying,  

We have seen sellers turn down reasonable strong offers with many objections and later find out; one was just not ready to make a move; sort of sabotage.

With our 40-50 page contract, there is always a way OUT, whether it is with contingencies, dates, inspections, appraisal, and so many others. 

When you are listing a home, really make sure they are ready to move. Find out why are they moving?

Where will they move?

What are their net proceeds? Who is helping them?  What if we get an offer this week? Are you prepared?

 

You know the questions. Ask them early in the process. Ask them more than once.

You may not prevent all buyer/seller remorse, but you do need to ask and receive the right answers.

 

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Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 
Comment balloon 12 commentsMargaret Rome, Baltimore Maryland • December 07 2019 06:45PM

Comments

Hi Margaret, Great post and so very true.  Sometimes we are so intent on making a deal and hoping it all sticks, better to find out before all the work is done.

Posted by Christine O'Shea (Christine E O'Shea Broker-Associate) about 1 month ago

Margaret Rome, Baltimore Maryland very valuable report for preventing buyer or seller remorse.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) about 1 month ago

Morning Margaret.

And to think our residential contract is only 12 pages short, compared to yours.  Of course when you add all the other paperwork that goes with it, we are still short of the 40-50 pages. 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 1 month ago

Good morning Margaret Rome, Baltimore Maryland the "hard close" is what causes most buyers to "walk".... if a buyer wants the property, an agent does not need to put that buyer in a choke-hold.

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) about 1 month ago

Good morning Margaret. If you truly understand the "why", the steps to success will lay out in front of you. Lead, don't manipulate! Enjoy your day! 

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 1 month ago

Hello Margaret - asking lots of questions and listening carefully helps but doesn't eliminate remorse.  We only do the best we can...but it is important to do what we have the power to do.   

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 1 month ago

Christine O'Shea So true. Make sure the deal is for the client and not for you the agent!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Michael Jacobs So true.  It is not possible to prevent the remorse, but being aware and asking the right questions can help.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Good to see you John Pusa 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

James Dray The main body of our contract is 11 pages. The cash offer I wrote tonight is only 35.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Barbara Todaro  Well said '...if a buyer wants the property, an agent does not need to put that buyer in a choke-hold.'

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

Wayne Martin Love this comment.. '.If you truly understand the "why", the steps to success will lay out in front of you. Lead, don't manipulate! '

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 1 month ago

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