How to Handle Buyer’s Remorse in Real Estate Negotiations

One of the most frustrating things in the business is when you get a contract and get the dreaded “I’ve changed my mind” phone call the next day. Don’t think that just because they are contractually obligated to sell the property to you that it will happen. After all the time you spent with them and the solution offered and agreed upon, to no avail. You blame the seller and spend the afternoon complaining to anyone that crosses your path.

Here’s the solution! It is handling buyer’s remorse before it handles you. If a seller has signed a contract with us, I say this, “Before we part today, I want to make sure that you are completely satisfied with our meeting and really want to move forward with this. Sometimes, a couple days go by and people change their minds. I just want to make sure that is not the case here. You may talk to your friend, dad, realtor, whoever that will give you some different advice about the house. I want to make sure that you communicate to them that everything is taken care because it is. Sooooo, you are very happy with what we have agreed to, aren’t you?”

After I say that, I just shut up and listen. This is when the client speaks up and justifies to you how happy they are about your offer. Get them to assure you that they have made up their mind to sell, and you’ve secured your deal.

Category: Negotiating