We all know FOMO (Fear Of Missing Out), turns out FOMO has a sister, which may be an even bigger stickler (more to come below)!
For a laugh and a little refresher on the topic have a look at this College Humour trailer:
With Toronto’s real estate market charging at full steam right now it’s not uncommon for homes and condos to be sold in a bully offer situation, seemingly in an instant. Now there are some buyers who are diving in headfirst while others are on the sidelines waiting for something better or for things to calm down. Either option may or may not exist. The term “FOBO“, the Fear Of Better Options, is just entering our lexicon. It can be the sense of being frozen, unsure of how to move forward.
We are seeing this FOBO with some buyers. Either it’s a sense of uncertainty of what they actually want, a concern that there is going to be better and more options if you hold out. Whatever may be underlying the issue for the buyer it’s a case of not actioning. The selection of all things on the internet, the accessibility at the click of a button has really effected how people view what options they have.
The Cure For Real Estate FOBO:
Hire A Great Realtor!
Choose a realtor you can trust. They will give you the perspective you need to make a great purchase. A great realtor will give you the perspective you need. Our experience will tell you whether this is a rare opportunity that you need to jump on immediately or if there actually are “better options” available if you wait! Ultimately when to act and when to hold off.
Take Action
Life is about Action. Yes, this may sound philosophical but it’s true. With action comes growth, momentum and opportunities. Sitting on the sidelines gets you nowhere. That being said, it’s great to act with the word “No” or “Not Right Now” in a conscious sense. That is taking action.
Take that first step. Dive in. Learn from it. Don’t regret it. Do it with someone you trust! You won’t question whether there are better options if you trust who you working with!
