Custom Market Analysis Avoids Buyer’s Remorse

Well, good afternoon, everyone. My name is Chris Berger, and it’s time for a Berger Point.

You know, people talk about or hear about something called buyer’s remorse.

Pretty much everybody knows what that is.

You go out and buy something on Amazon, you don’t like it, you send it back. You know, you buy a car,

Generally you’re going to keep it, but some people do try to take it back.

Same thing with a house. You buy a house, and all of a sudden you’re in contract and now what do I do?

Do I actually go through with the deal? Because now I’m thinking, can I afford this?

As real estate people, we generally refer to that as buyer’s remorse.

Now, one way to really combat that, again, myself as an agent, I was out with a young couple and they were scared because they moved out of a condo and put down a down payment and they were faced with buying this house.

So, I choose five homes that recently sold, sold is so important, in the past six months.

Then as a realtor, I’m matching the bedrooms, trying to match the square feet and the size of the home.

So, I presented that to my buyers, they looked at it and realized, you know, we got a pretty good deal.

We could have paid a little bit more, a little bit less, but over the next 20 years, it’s really going to pay off.

So that’s a CMA or that Comparative Market Analysis.

It really made a difference for them. Of course, it helprf eliminate the buyer’s remorse, which is only natural.

For sellers, keep that in your hip pocket as well.

Keep a CMA around because this way you know when a deal comes in, all right, you know your numbers and you know what you want to accept, but you will feel better in the long run when you see other homes of similar value sold.

Today, I’m wearing my St. Jude’s hat, Children’s Hospital, because I have an automatic payment that comes out of my checking account every month to support the work that they do.

Because indeed, it’s a great, great gift to kids what St. Jude’s does.

Have a great day.