Psychologists could have a field day observing the second-guessing of buyers and sellers who so frequently doubt the wisdom of their decisions, once committed to a real estate transaction. Buyers often seem to see only their folly, questioning that they bought the right property, worrying that they made a poor decision, and believing they spent too much. Real estate brokers refer to this as “buyer’s remorse.”
Reverse the scenario for an illustration of “seller’s remorse.” In particular, when a property sells quickly, many sellers conclude that their price was too low, feel they should have held out for better offers, and are convinced they really could have gotten more than the list price, however realistically determined.
So how do you chase away the specter of “remorse”? Do your homework, seeking out the expertise of an experienced real estate professional. If selling property, study the market before setting a price, defining your pricing strategy within the parameters of current market conditions. Understand yourself and your needs. Is it imperative to sell immediately, or will you have the luxury of considering offers over a period of time?
When buying, you must, likewise, understand yourself and your needs. Will you be able to conduct a leisurely search for property, or will you be operating under time constraints/ In both cases, establish your goals, evaluating how best to meet them within the latitudes of the current conditions, researching the what the market will bear, if selling, and assessing what your money will buy, if purchasing.