We’ve all had plenty of occasions when we have to choose between two things. Maybe it’s shoes or desserts or whatever. An easy decision for you can be a tough decision for someone else.
I see this all the time in real estate.
Some buyer clients will look at several houses and very easily decide which is “the one.” But for others, after looking at five, 10, or 15 homes, they’ll narrow the field to 2-3 favorites…but choosing “the one” gets really difficult.
Whether it’s analysis paralysis, information overload, or just plain old stress and anxiety, choosing between 2-3 great houses can be tough. I’ve seen that a lot over the years, and it’s totally understandable.
I suppose you could flip a coin, but why leave the decision to chance?
Let me be clear about this: I’ll never pressure a buyer into making a decision before they’re ready. Never.
But quite often my buyer clients are on a deadline. They’re about to start a new job and need a place to live. Or they’re having a baby soon and need to move before moving becomes impractical. There are a lot of reasons why buyers have to decide on a deadline.
When that happens, here’s how I talk to my buyers when they’re struggling to decide between two homes.
First, I try the loss aversion technique. It goes like this:
“Imagine I called you right now to say both houses that you love were just sold and no longer available. Which house would you feel worse about losing? Whichever house hurts more to lose is the one you really want.”
Second, and only if that doesn’t work, is I ask my clients to pretend they’re under duress:
“If they passed a law today saying you have to choose one of these two homes right now, or you lose both of them, which one would you choose?”
I don’t have to use this option too often; the loss aversion question is pretty successful because we’re all wired to avoid pain. So when I ask my clients which home would cause more pain if they lost the chance to buy it…that usually clears things up and helps them decide.
If you’re having trouble choosing between 2-3 great homes, give these techniques a try! And if one works, I’d love to hear about it.