OK, so we all remember hearing this phrase used at one point or another to emphasize how ridiculous it is to simply do something because "everyone else is doing it." However, when it comes to making real estate decisions, it seems like people feel most comfortable following the path of others, rather than making an independent and informed decision. Billionaire Warren Buffet said he loves this about human nature- it has helped to make him a rich man. He says "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." I try to impart this line of thinking when I am encouraging a client to make an offer on a home, even if it seems like nobody else is interested in it. If we look at the numbers, and run the comps, and take the time to acknowledge that the home sitting in front of us is a good deal, why can't WE be the ones to jump on it? Why wait for that phone call from the listing agent telling us that there may be another offer coming in, and then having to duel it out with Buyer #2? But for some reason, I find buyers almost hoping to hear that there is talk of other offers, as a way to somehow validate their interest in the home. There are some wonderful opportunities out there right now for our buyers, and I am going to continue to encourage them to be the trend-setters and trust that they really do know a great deal when they see one!
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