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This is why home buyers have a fear of missing out

Wednesday, September 4, 2019   /   by Jake Batac

This is why home buyers have a fear of missing out

You meet with your agent, spend a good hour telling him or her exactly what you’re looking for and they send you just that. Then you find yourself meeting with another realtor the week after and go to few open houses and ask few other realtors to also send you listings. Then you realize you have 5 emails every day from 5 agents and they’re all the same listings and then you ask yourself why???

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Today’s topic is, buyer FOMO. So what does that mean? Buyers fear of missing out. And you know, a lot of buyers, they're very reluctant to commit to one agent. So they're going on different websites, registering to all kinds of places, because they feel like their options will be limited. They just work with one agent. So why is that? Why are they going to open houses doing all this extra work when they can just hire an agent to do everything for them?

Like when you were looking for a home, did you catch yourself like going on multiple websites, just having to put your email and phone number on all of them and then having all of these different agents call you or you already know going from one open house to the other.

And you know, 80% of buyers start their home search online. Actually, it's almost like 100% now. So that's regardless going to happen. But what is your strategy? Do you feel like if you were doing a home search, where would you start? Would you call a real estate agent or go to Google or Facebook, right? Like where would you start and you would you rather have an agent do the legwork for you? Or do you trust yourself more? Do you feel like you have a fear of missing out? Do you feel like if the agent is doing it for you, maybe they would be too lazy to go look for more properties or maybe they're just not capable or have the connections, like the exclusive networks to get access to these homes.

So there's the trust issue that we're talking about, right? So a lot of buyers feel like they can’t trust just one agent in finding the right properties for them. And I don't blame them. So let us know what your thoughts are, but more than anything, please subscribe to our channel and make sure you turn on the notification.

Watch full video here: https://youtu.be/q6D8ZNrEFkA

  broker, real estate, toronto platinum realty team, toronto home selling