Last week I noticed that a buyer I’ve been working with over the past few months has gone quiet and isn’t as active in their property search. 

My first instinct was to reach out right away and re-engage them - just like we are taught. Sell, sell, sell… But in the moment, that didn’t feel like the answer. My gut was telling me to find compassion, create some space, and an opportunity to process the experience of being a buyer in Moncton in the Spring of 2021. 

Buyers Fatigue was on my mind. 

I immediately popped over to my brain BFF (Google) to dig in and see whether Buyer Fatigue is, in fact, a “thing”. And while I found a few articles and videos put out by REALTORS® promising to have a cure for Buyers Fatigue (spoiler alert: the cure is hiring them), it became clear that this is a conversation that should be taking place right here in Moncton. 

What is Buyer Fatigue?

In the way I’m using it, Buyer Fatigue describes the feeling of exhaustion, confusion, and outright hopelessness that can accompany trying to purchase a home in a seller’s market. The combination of low inventory, limited choice, and high competition can lead even the most experienced buyer to feel frustrated and outright exhausted. 

The cycle of endless property viewings, rejected offers and over-market sale prices can just feel like too much - period. Buyers may end up feeling like they’ve wasted weeks or months in this cycle without achieving their goal. 

How to minimize Buyer Fatigue

Stop Taking Everyone’s Real Estate Advice

Your Uncle Tony has your best interest at heart, I’m sure. But unless he’s actively working in the real estate market during the current market cycle, his unsolicited advice could be doing more harm than good.

Your friends and family members have probably bought and sold a few homes over the years. There’s also an extremely good chance that they’ve never done so in a market like this. So if you notice that your mom/cousin/boss/colleague/whoever is pontificating about how you should be negotiating - and that feedback is causing you confusion or stress - get yourself out of those conversations ASAP. Don’t let anyone take the energy that you need to put toward your search. 

Find Flexibility on Your Home Wish List

I love that you’ve been dreaming about this home purchase for a long time. I really do. And also, you may not get everything you want in your next home. 

If your wish list home isn’t available, I encourage you to speak with your REALTOR® about securing a property that is a solid investment to help you build enough equity to buy the wish list home later. 

Then you’ll be able to look back and congratulate yourself for investing in your future. 

Get Pre-Approved for a Mortgage

For the love of all things, please do not start viewing properties before getting pre-approved in this market. It simply moves way too fast. 

A pre-approval from a mortgage broker will give you clarity on what you can afford to spend so that you don’t waste your extremely limited time looking at the wrong properties. 

Don’t Let The Sellers Market Own You

After losing out on a property or two, you can start to feel like you must be glued to REALTOR.CA all day long… know when it’s time to step away from the screen for a bit.

Consider what happens when you develop a muscle. You do repetitive movements until the muscle fatigues and just can lift another rep. Then, you rest and recover. 

Your home search is no different. Rest is essential to making sound decisions about your investment. 

Shift to a Process Mindset

One of the greatest challenges I see with buyers is the shift from “transaction” to “process” when it comes to buying in a Seller’s Market. 

For example, if you approach your home buying process with the idea that an offer means a successful purchase, you will feel as if you’ve lost something when your offer isn’t accepted. If you shift that mentality to the understanding that the average buyer ends up offering on a few homes before they get “the one”, then it’s much more palatable to manage when your offer isn’t accepted. That’s just part of the process in this market. 

Those are just a few of the ways I suggest managing Buyer Fatigue. Did I miss any?

If you know someone who needs to read this, please send it their way. It would mean the world to me. 

Natalie

PS. If you already own a home in Greater Moncton and you’re curious about how this market affects you, grab my Guide To Selling Your Moncton Home in 2021. It’s right here and it’s free.