Admin
Peter Mohylsky, Beach Broker, Call me at 850-517-7098 (PMI. Destin)

Spam prevention
Ambassador
3,374,669
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

My first thought was - "Fact" where did that data come from.  Seems to me that is a number extracted from the rectal cavity. 

I know of no buyer that has remorse. They are over the moon happy to have purchased their home - even paying several hundred thousand dollars above list.

Heck, I am in Silicon Valley, California ... maybe the webinar presenter is referring to an area where they may be some truth to the remorse theory.

Jan 29, 2022 09:08 AM
Rainmaker
5,176,613
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I couldn't begin to tell you. I'm not aware of any buyer's remorse on the part of my own clients... and I work very hard with my buyers to ensure that when they select a home they won't have buyer's remorse. Can't remember a single instances where a client of mine asked me to sell their home because of buyer's remorse.

Jan 29, 2022 08:29 AM
Rainmaker
862,537
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

In this market, I definitely agree that buyer's remorse is elevated.  That is exactly why I've encouraged sellers to "pump the brakes" and let buyers take a breath and be as sure as feasible in that decision to submit and offer.  We're seeing offers being cancelled a lot more than usual during attorney approval for this very reason.  Too many buyers are getting wrapped up in the game of "winning" multiple offers.  My guess is that a normal number is around 35% but that's just my guess. 

Jan 29, 2022 07:34 AM
Rainmaker
733,315
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

That figure seems way out of wack. Within my brokerage, none of the agents have told me that their buyers who purchased recently are regretting it. 

Jan 29, 2022 07:32 AM
Ambassador
2,092,712
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Hot enough for ya?

and how could they possibly know that?

Jan 29, 2022 10:06 AM
Ambassador
3,193,924
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Wow, I can't think of one buyer's remorse client I've had in the past two years which means some poor agent has only unhappy buyers.  I sell mostly vacation/second homes and those people are never pressured and search until they find what they want and I remain patient until they do. I have not once tied to "close the deal" with pressure in my career.  It's not about me.  It's about them LOVING their new home.

Jan 29, 2022 08:15 AM
Rainmaker
1,370,420
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Buyers remorse from what? Being successful in buying the house that they wanted to buy?

 

Jan 29, 2022 07:22 AM
Rainmaker
1,857,687
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I don't believe that the percentage is that high. Sure it's there that's a fact. Where'd the 60% come from.

Jan 29, 2022 07:20 AM
Rainmaker
643,172
Jason E. Gordon
CMG Mortgage, San Diego, CA - Coronado, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Fun fact, 87.29% of all statistics are made up.

 

(note: I made up the number above)

Jan 29, 2022 10:42 AM
Ambassador
3,612,796
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

I haven't run into any buyers that felt remorseful of the home they bought. In fact the opposite - excited to be living in their dream home.

Jan 29, 2022 09:36 AM
Rainmaker
1,518,673
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I can see it being more common now with people having to bid in multiple offers and usually not get their first or second choice home.

Jan 29, 2022 08:55 AM
Rainmaker
1,604,955
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

That figure seems a bit high, but with low inventory I suspect a lot of people got very few items that were on the wants/needs list.  Wait till interest rates rise and prices stabilize and maybe even drop a bit.

Jan 29, 2022 08:04 AM
Rainmaker
2,803,885
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Buying a home, car, expensive vacation, etc., one forgets these are emotionally driven acts which summon Universal Law i.e., what goes up must come down. The high is never criticized, but the lows are publicized. Buyer's remorse? This is no myth. Reality throws cold-water splash quite well causing one to enter the land of regret...

Jan 29, 2022 07:22 AM
Rainmaker
1,578,582
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

0% of my buyers are, I know because I stay in touch. 

I think 60% of webinars are full of fake facts.

And 6/5 people struggle with math. 😂

Jan 29, 2022 11:00 AM
Rainmaker
1,075,479
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I am SO not surprised about that . . . the past 2 years have been a rollercoaster of emotion and confusion! "Quick, let's do something, anything" only to repent at leisure with no equity . . . we shall see what this year brings!

Jan 29, 2022 07:15 AM
Ambassador
3,197,134
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Hard to tell the actual number of people who fall into that category Peter without any backed-up facts.

 

Haven't experienced it here in southern Utah. Where some have paid $50K+, $100K or $200K+ and over list price in other areas of the U.S., I can definitely see buyer's remorse happening!

 

When meeting with clients, together with the lender, a realistic budget is created before offering on properties. Just because some consumers have that buying power, doesn't mean they should!

Jan 29, 2022 11:17 AM
Ambassador
2,687,755
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     My experience with "Buyer's Remorse" was the 2 or 3 day period after they went under Contract.  Then the remorse went away.

    And it isn't just Buyer's Remorse,  sometimes it is Seller's Remorse. 

   That's why you talk about it during your first meetings with Buyers, or at the Listing Appointment.

Jan 29, 2022 10:41 AM
Rainmaker
5,773,797
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

I have heard these complaints in California, where irrational exuberance was at work.  Now there are law suits against agents by buyers who claim the agents did not disclose everything.  A

Jan 29, 2022 10:12 AM
Rainmaker
7,976,676
Roy Kelley
Retired - Gaithersburg, MD

Interesting. Some have paid record high prices.

Jan 29, 2022 07:19 AM
Rainmaker
923,821
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

That is an interesting number. I'm surprised it is so high. I hear many saying they're glad they bought when they did.

Jan 29, 2022 12:35 PM
Rainmaker
908,673
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I would ask where those numbers are sourced and how  "remorse" is interpreted? Do buyers think they overpaid, got goaded into jumping in too soon, not happy with the home they got? I do understand there are quite a few law suits out there.

Jan 29, 2022 12:03 PM
Rainmaker
5,051,237
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have to agree with this statement about buyers remorse.  Things will change sometime.

 

Jan 29, 2022 08:27 AM
Rainmaker
2,262,772
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Sellers get remorse too... think they can sell, list and when here's your buyer happens... oh oh, I can't do. I thought I could but... please come get your sign, sorry, false alarm, call me Peter who cried wolf. Wonder what study or poll the webinar leader was quoting? I don't see that kind of regret in my smaller rural Maine market. These buyers are glad they left a city, can throw away the taser. 

Jan 29, 2022 12:17 PM
Ambassador
3,892,130
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

As others have said, that figure sounds way too high. I have seen buyer's remorse exercised before the final settlement along with more fall-throughs. If a buyer is uncertain and starts making demands, it is sometimes better to give them an easy way out and resell the home. There is no shortage of buyers.

Jan 29, 2022 11:36 AM
Ambassador
6,521,637
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Those stats do not fit with my experiences, most buyers that I have talked with seem very happy and glad that they were successful in finding their home.

Jan 29, 2022 05:56 PM
Rainer
351,711
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

Most of my buyers are really happy with their purchase though condo and co-op purchases are different than single family purchases. I do have concerns that my townhouse buyers that closed at the beginning of this month might have regrets- since their new home is just 3 blocks from where the 2 cops were killed last week. 

Jan 29, 2022 04:50 PM
Rainer
422,433
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Please ask them to give me the list of all the disgruntled buyers, happy to hand them out to Active Rain agents to list and sell.  If there was access to the grumpy recent buyers I wager most won't sell.

Jan 29, 2022 02:46 PM
Rainmaker
643,987
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Most disgruntled people love to do surveys and most of the Buyers during the COVID era have good reason to be unhappy with the process of trying to become a home owner! So I do not find the results surprising.

Jan 29, 2022 01:47 PM
Rainer
155,387
Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Real Estate Deals!

That seems pretty high. I am sure it's no secret that many are buying at the top of the market. In fact, I just wrote a contract on a property and the buyer said, "I am sure I will lose $100 - $150k when the market drops... it has to drop." Perhaps he is more educated than most (MBA with lots of experience in the finance sector) but for him, he is leaving a higher-cost area (California) for AZ.

Jan 29, 2022 01:34 PM
Rainmaker
694,573
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I am not sure how you quantify that number and I wonder if they do it again in another year with prices rising, if there would be a lot more satisfaction.  It has to be tough for buyers right now with all of the competition and being forced, in many cases, to do things most buyers in the past have not had to do. 

Jan 29, 2022 09:56 PM
Rainmaker
2,221,430
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Seems high

Jan 29, 2022 06:16 PM
Rainmaker
816,750
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I find that number very high and hard to swallow! I haven't had one client tell me they have buyers remorse. I have had buyers tell me they wish they would have bought sooner instead of thinking about it first as our prices are going up almost daily! 

Jan 29, 2022 06:14 PM
Rainmaker
1,251,011
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Not sure in our area many occupied listings are in contract often without inspecting. I know a realtor bought neighbor's home and put it on the market with doing any improvement taking a huge profit. With a 30-40% annual increase it is hard to pass up anything sits on a piece of land.

Feb 06, 2022 08:29 AM
Rainmaker
773,499
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I don't believe this statistic one bit.  Fake News.

Jan 30, 2022 04:30 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I think the number is closer to 100%.
However, remorse, like vaccine has been redefined.
An example of today's remorse is "Does skyrocketing inflation, supply chain and a Russian war make you uneasy about the new mortgage debt?"
Since there is NO INGEGRITY in reporting any response to that question can be a headline about inflation, supply chain, war and mental health. Better sill the headline is "Americans a less worried about Covid."
EVERYTHING is CLICK BAIT.
The FACT CHECKERS let Biden say the Supply Was FIxed and let the shot be called a vaccine.
I don't think any of us has access to the truth. And those who do don't know how to tell it.

Jan 30, 2022 06:18 AM
Rainmaker
5,336,037
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Who did the survey? What was the size of it? Was it national or more local? What is the reputation and credentials of the speaker?

Then, most likely I still would not believe it! How about I propose a number and say 90+ percent of buyers in the last 6 months are thrilled? Who is closer to accurate might take some research!

Jan 30, 2022 05:01 AM