Real Estate Never Sleeps
If you have thought “Did I overpay?”, “What if I find another house I like better?”, “Can I really afford this house?”, and other crazy-making thoughts, you could be experiencing Buyer’s Remorse.
A real estate transaction is a living, breathing thing that will metamorphasize over time, even overnight, especially in residential real estate where emotions run high. As Realtors, we are always looking for signs to make sure the process is smooth-as-silk and going in the direction it should be toward a successful outcome for our principals.
And don’t forget that new information that comes up during the escrow…inspection results, appraisal results, the buyer’s own research…more emotion could be lurking. All this is monitored by the real estate professionals in the transaction.
Buyer’s Remose can happen at any time in the process. If you are having a fit-ful night sleep, talk to your Realtor as soon as possible about your feelings. She can help you think through whether the feeling is normal. A Realtor wears many hats and (unofficial) physcologist is one of them. Not to divert here, but also occasionally a client’s concerns are significant enough that the needs go beyond what a Realtor can provide. This is usually discussed before an offer is made so that the buyers won’t be caught off guard if this does happen.
My friend and colleague, Barbara LaVey, also at Coldwell Banker, identified with this occurance… “Oh yes, real estate goes bump in the night” even when most of us are in slumberland. Once in a while that first phone message or email in the morning is not what we expect.
Part of a Realtor’s job is to manage the expectations and emotions of our clients – for the sellers who thought they had a deal (if it falls through), or are now unsure if they really want to sell, and the buyers who may now feel unsure if this house is “the one”, or if they think they overpaid. Most of the time the transaction goes through without a hitch; well, in this transitional market there are more hitches to work through than a few years ago. For the right thing to happen, whatever the outcome, a good Realtor needs to listen a lot and pay attention to signs – from all parties!