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Buyer's Remorse-How to Lessen The Panic

By
Real Estate Agent with Coldwell Banker D'Ann Harper REALTORS® TX License #0566780

Have you ever purchased something that you thought was a really outstanding buy? Then maybe you took it home, or told some of your friends about your great find, and your friends told you what a dumb-a-- you were for buying whatever it was.

Buyer's remorse can happen for any product or service- from a piece of fruit, investment products, or even a house. For big ticket items, I think it's helpful to have a plan of action. So here are a few things you can do to prepare yourself from the negative self-talk you may generate from your own thoughts and negative feedback you may get from friends, relatives and co-workers:

  1. Make a list that describes key features of the item to be purchased.
  2. Add to the list the reasons that you are making the purchase.
  3. When you shop for the item, compare at least two products before making the purchase.
  4. If you have a confidant in whom you value their judgment, ask for their feedback on what you are thinking. Do not let their judgment override your decision.
  5. Now when you make the decision, keep your list handy to help you ward off the demons that may challenge your decision. With a good documented plan, you should feel good about the decision and be able to minimize any thoughts of buyer's remorse.


Wayne Johnson

210-483.6329

wjohnson@cbharper.com

My Networks: http://rlty.me/SanAntonioRealtor 

Comments (5)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Wayne,  thanks for your comments..I sure could have used your list with a few past buyers...

May 28, 2011 09:28 PM
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Wayne,

I still remember the buyer's remorse I felt when we bought our first property. It was severe - and painful!

We did complete the sale, however, and were happy we did!

PHil

May 28, 2011 11:22 PM
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Good Morning Wayne, excellent input for home buyers in todays market.

May 29, 2011 12:06 AM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Excellent suggestions Wayne. .I'm printing this for my buyer agents Thank you!

May 29, 2011 01:05 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Ronald-It happens to us all.

Phil-In the long run, it usually is never as bad as we think it will be.

Dan-Thanks for comment.

Fernando-Thanks for adding my list to your mix.

May 29, 2011 07:08 AM