Maine Real Estate For Sale !

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Buyer's Remorse...What Am I Doing Buying Real Estate?

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The gung ho to buy, or even sell real estate jitters. It happens quickly and then the self doubt can creep in.

Some folks make decisions quickly that stick, last.

Don't make them wringing their hands together. No bead of sweat on their upper lip forming.

Or losing sleep at night over the have I done the right thing or not.

Others not so much with the worrisome nausea creeping in. Not laboring intensely with angst about whether this buying, selling of real estate is such a hot idea or not. Am I making one huge mistake and going to have major regret. Over the what have I done. How will I feel if I put off this real estate buy, purchase of a property listing.

After a little thought, time. reflection happens. To get used to the notion.

To buy, sell or not to buy or sell the real estate property listing. That becomes the question.

Life factors play a big part too and the longer the process takes, the more self doubt or reconsideration can wander into the room.

Timing is everything. Causing real estate buyer's remorse.  Often it is a case of settling for the right real estate property and then what if a better one comes along?

Or does and starts to jam the radar and make the buyer just not so sure. To lose some of the warm and fuzzy feeling, glow. 

A "I love the home but now not in love with the home" anymore can happen.

Often big factors outside the purchase impact it. Like pink slips for lost jobs. Divorce, health issues that all impact the being able to keep the payments going. The maintenance and responsibility a home, other property listings have attached to them. active rain maine blogger logo 

Because a Maine real estate investment is one of the biggest in life, the stakes are huge. The recovery from a mistake not going to happen overnight quick. Or at all. Talking yourself in and out of a purchase, a real estate property sale can happen.

Don't force it, pressure makes the just want out situation explode. Like trying to put out fires using gasoline. 

Maine. Two words. Fun. Outdoors.

I'm Maine REALTOR Andrew Mooers, ME Broker

info@mooersrealty.com | 207.532.6573

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Comment balloon 30 commentsAndrew Mooers | 207.532.6573 • May 25 2013 05:18AM

Comments

I disagree. Sometimes a longer decision s a stronger one. I play devils advocate with my buyers and if they still want the house they are ususally fine after family and friends question and comment.

 

I don't think it is time that makes doubt creep in so much as having to describe or ecaplin the process to a family memeber or friend, then discovering that they understood when it was explained to them but not enough to convey the information to another. Co-workers are the worst - everyone one of them has an opinion and thinks they are a real estate expert.

 

Arming your clients with information helps them combat the doubt.

Posted by Dena Smith (DSmith Realtors) almost 6 years ago

Each buyer is different and some can get their remorse, but they usually settle down especially if their purchase was not their 'forever' home.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) almost 6 years ago

Dena ... You have to think for yourself and live your life. The reaction from co workers is not what drives a Maine home buyer's purchase. It's the quick to decide then time to think over the decision part and life events like a relocation not planned, sickness of a loved one, loss of job that all happen with causal speed and before the closing, I want out happens.

Ed ... So true. Starter home...not going to be the last place you lay your head down at night, turn off the lamp and end the day for sure.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

Andy, sometimes they are just scared from the idea of it, other times the fear is real. They need to make sure they want to buy or sell anywhere, not just Maine!

Enjoy your weekend!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) almost 6 years ago

Andrea... true! Enjoy yours too! The longer the deal drags on with delays, the thinking maybe this is not a good idea, someone is trying to tell me something with road block after road block, delay, set back can happen. Real estate is an emotional experience.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

I see it all the time with buyers and sellers.  They start talking to their friends about it and a lot of times friends and family talk them out of it. 

Posted by Marc McMaster, Putting my clients before myself (RE/MAX Centre Realty) almost 6 years ago

One of the jobs of a good Realtor is to take as much stress out of the transaction as possible. So agents I have see go over board with caution, but the vast majority of problems are caused when, agents close their eyes and hope the Buyersor Seller does not catch on to the issue. I want to be clear that the vast majority of problem is caused by a very small portion of the profession.

Posted by Chuck Mixon, Cutler Bay Specialist, GRI, CDPE, BPOR (The Keyes Company) almost 6 years ago
I'm the same way sometimes... The more I think about something, the more unsure I am, I don't know if that is good or bad in accomplishing my goals. Sometimes one, sometimes the other.
Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) almost 6 years ago

Andrew, you're right, I think remorse, affects both buyers and sellers. The sad stories are the short sellers who really don't want to sell but have to.  

Posted by Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula, Realty Works Temecula (Realty Works Temecula) almost 6 years ago

A good real estate consultant reminds buyers (and sellers) of the reason they (not the agents) chose to move forward in the first place.

Posted by Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) almost 6 years ago

I see this mostly with first time buyers.  I try to derail those thoughts by telling them at the time they sign the offer that they may suddenly get a wave of uncertainty, or unwanted advice from friends and family and that this is normal and to call me instead of working themselves into a panic attack.

Seems to work for me.  

Posted by Sheila Morales, Your Kauai Hawaii Agent (Kauai Property Shop) almost 6 years ago

There are always benefits to buying a home - other than just current market value - and if they get it, they should buy it. No pressure tactics - it's just different way to look at it!

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) almost 6 years ago

I don't see this too often, but I have found that when I have someone that obviously jumps in to quickly, I will take them back out to see it again.  I go over with them what the pros and cons are for them and most times we can get all the issues figured out before they sign the contracts.  When it is the right choice for them, people know it.  If it is a so so choice, it is worth helping them figure it out before they get frantic about it

Posted by Rain Silverhawk, 208-610-0011 Sandpoint Idaho Real Estate Realtor (Keller Williams Sandpoint rain@lakeandhomes.com) almost 6 years ago

Andy, as I have found out some buyers can't buy without pulling out at least a couple of times...they over analyze everything and do miss the great deals because of a parent or uncle that knows more and misguides them.  Sometimes they need the one pull back other times they just are not buyers!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 6 years ago

Bottom line is it's just a house with generally 4 walls and a roof. Keep smilin'

Posted by Brian Schulte, SFR, Sierra Vista, AZ (Allison James Estates & Homes) almost 6 years ago

Fortunately, I haven't had to deal with buyer's remorse more than once or twice in my 20+ years of being an agent. But in the kind of competitive market we are seeing now where buyers are feeling pressured to make a commitment quickly because of lack of inventory, I can see where we would encounter more buyer's remorse than in the past. It's really important to not make one's clients feel as if you are pressuring them and instead helping them understand how you are wanting to assist them in making the right decision for them long term.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) almost 6 years ago

Its a big decision that can be easier with education. .and that is the part real estate agents should  play. .

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) almost 6 years ago

This "should I, shouldn't I?" happens with all big decisions; purchasing a house, marriage, kids, etc. I think it's important for the buyer/seller to remember what gave them the urge to go through with it in the first place. Logically weigh the pros and cons, make a decision and stick with it! Often when we think too deep into things, we forget what got us there in the first place.

Posted by Suzanne Otto, Your Montgomery County PA home stager (Six Twenty Designs) almost 6 years ago

Never really had this happen before.  If you go into as much detail as possible with buyer in setting up the search criteria, should decrease.

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) almost 6 years ago

just wait for the moment the light bulb comes on you realize you have found your new home ....  first time homebuyer's are the worst at experiencing buyer's remorse  .... and the questions during the purchase process / phase.

Posted by Royce Dean Vanderpool, GKC, RMC, REOS, CIAS, BPOR - Principal Broker (Devan Realty & Development Corporation) almost 6 years ago

Marc... the opinion of others can play a sway in the you are in or you are out. Hot and cold.

Chuck ... we are service, information providers for sure.

Judi ... lack of sleep, other factors can cause the should I stay or should I go rigmarole harder, more stressful.

Jane ... all part of the motivation to want to or have to sell. Anything done under pressure is not like taking the long casual, enjoy the ride route.

Michelle ... review and advise... so true.

Sheila ... like dating, what if someone better comes along you mean?

Praful ... the bank would not be making, approving the loan if the buyer could not handle it...

RS ... early on makes less hassles after paperwork later...

Ginny ... trigger happy and then not so sure does happen...keep cool but also don't want to be dealing with a Peter who cried wolf too many times...waste of time, gets folks hot under the collar when the derailment, cancel the sale call comes in.

Brian ... keep it simple. But does not just happen with homes. The vacation recreational land purchase that suddenly when thought through the seller thinks too many payments, no more. Or they get served with divorce papers, that kind of buyer's remorse is understandable as no longer doable.

Nina ... what do you want to do...take some time to study and really consider so nothing goes off half baked, too soon for sale failure because decide in ten minutes... in or out. Big decision, scared, doubts happen. They are not doing it to make the agent, broker's life miserable. They are scared often...work with them, help and listen.

Fernando ... (tap tap ta) the black or green board to go over the sets, what you see happening and help be empathetic, logical when it is emotional.

Suzanne ... over analyzing and lamenting what if you make a mistake is a twisting rope sentence. But some folks can not help being consumed, over wrought with worry. Find out what the worry is and there is the kink in the real estate closing hose.

E and C ... never say never. Ever. You are now prepared for what could, does, might in your travels.

RDV .... they are scared, new, out of their element...it is where you and I swim and have to be careful to not make them feel what's the big deal? They feel a way for a reason, reassure and come along side to help them get use to the idea. Or pack it in and pick up the second, third back up buyers you have on board. Circling the airport to lower the landing gear, slide into the real estate closing big black high back cushy chair to be the star. The reason all these checks are being written, dispersed.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

Yes, there are those two types and then there are the perpetual tire kickers, just waiting on that 'steal of a deal' or who just look for the sake of looking.

Posted by Than Maynard, Broker - Licensed to List & Sell - 405-990-8862 (Coldwell Banker Heart of Oklahoma) almost 6 years ago

TM2B ...too many Sunday morning informational shows on get rich, be a billionaire in twenty minutes with my new book, cd series with three easy, one last not to much fun payment. Worry about can I afford it, is this the right time to buy... timing not feeling so great while you get used to the idea of what just happened as the real estate buyer now not so sure is buyer's remorse front and center.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

It's a financial decision that becomes emotional as well. They need to keep the emotion out of it until they're run the numbers, talked about how long they plan on staying, etc. before they start house hunting and fall in love with something. Probably see more buyer's remorse in a market like this where there are multiple offer situations. On the one hand, you have the buyers that lost out and they're really sad. Then you have the buyer who won and they're instantly wondering if they paid too much since they came in first.

Posted by Aaron Hofmann, aka Mr. Smyrna Vinings (Atlanta Communities) almost 6 years ago

Like buses, another one will be along in twenty minutes is a hang loose, don't get too shook up or life, death crazy about a place. Good luck easing back on the emotion though when the nesting instinct kicks in, a stork is flying over and your buyers are tired of waiting. They want a nursery and have a clock ticking, want to move, act fast. You make mistakes when in a hurry...like spending more when shopping, pushing the squeaky front wheel that will not track right wire basket cart when you are some kind of hungry. Spending, impulse control suffers.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

Buying a home is a big decision, not to be taken lightly.  And because of the pressure to buy in this sellers' market, buyers make mistakes they are going to regret.

Posted by Jane Peters, Los Angeles real estate concierge services (Home Jane Realty) almost 6 years ago

Jane ... you have to live with decisions in life, buying property is one of the bigger ones for sure.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

Buying a home is one of the largest investments most folks will ever make.  That being said, some can make that decision in an instant while others feel compelled to overanalyze.  Whatever the reason, buyers need to feel comfortable with their decision to move forward.   We can help along the way, but sometimes it takes losing a house or two for some.   I don't believe that you may miss the next good one if you buy now.  Look at the opportunites you miss while you're waiting for something which may not come.  

Posted by Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR (Best Connections Realty, Inc.) almost 6 years ago

PS - Love the photo!

Posted by Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR (Best Connections Realty, Inc.) almost 6 years ago

Elyse ... Find your groove, your personal comfort and be able to speak up if something feels all wrong. Life is scripted differently for all the neat people we provide service to, that we help find and sell real estate listings.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 6 years ago

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