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When buyers remorse strikes...is there a cure?

Denver real estate reports...on Buyer's Remorse. m&m's in a hand

Buyers experience a flood of emotions at time of purchase. If the buyer is about to commit to a home purchase those emotions can become very intense. It is not usual to be working with a buyer for months on end only to have them dissolve into a puddle of anxious aversion.

Is there a cure? The best cure is found in prevention. By that I mean having a frank discussion about the merits of the home and the possibility the buyer may experience a brief period of anxiety.

We review our goals, and reasons for purchase, just after the contract is signed. Then I tell them how to deal with the feelings they may or not experience. It goes like this.

Probably tonight or maybe tomorrow night you are going to sit up in bed, in a cold sweat, worried about the decision you just made. Do not fear this feeling, it is very normal. When this happens just remember our conversation, take two M&M's and remember, 'How sweet it is!'

Yes, the cure for buyers remorse is remembering the ultimate goal.

Posted by Kristal Kraft ~Denver Real Estate~303-589-2022 on 10/10/2006 10:05 PM

Comments (12)

buyers remorse, denver real estate, colorado, kristal kraft

Originally posted at: Denver Real Estate & Relocation: When buyers remorse strikes...is there a cure?

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12 Comments on When buyers remorse strikes...is there a cure?

OCT

2006

As a Loan Officer I see this all the time. That is why I hold their hand through every step of the transaction, and it they call me 10 times in a day, I get back to them right away every time. Once we have commitment on the loan, I call them up and go through any conditions that they might have to meet before the closing. And then I attend the closing, not because I play any part in the closing, but just to be there as a security blanket for them. This is probably the most stressful procedure that they have ever been through, and they deserve every bit of attention that we can give them.

George, your process and good attitude for handling buyer's remorse (or the prevention of it) is very good. I can see you must be very successful!

I do not see many but have had some that I cannot remember very well. it was generally someone I would have worked with a short time and had not gotten to know them. She backed out the next day because her teenager said her room was too small. It was the buy of the year. The house went to the back up offer. its worth double now. The kid is gone hopefully.

This is just another why Buyer's benefit from using a real estate agent. We anticipate that Buyers will freak out & we prepare them for it before it even happens. When the dust is settled they're very thankful & I feel great!

Eric, it seems the quicker we find them the sooner they fall. Building a relationship of trust is a good preventer.

Sheri Ann, right oh so right...we do have a purpose. Hand holding is good.

OCT

2006

Kristal,

I just had a recent experience with Buyer's remorse. He was an engineer and over analized everything, and basically talked himself out of a really great purchase. There wasn't much I could do to persuade him otherwise. Hopefully, at some point down the road, he will be in a better position to buy.

Rich Jacobson, www.KitsapLife.com