How to avoid analysis paralysis in the Reno real estate market

Have you ever been in a predicament of too many choices?

It might have happened when you were at the gigantic store walking down the cereal aisle with 328 different kinds of breakfast grains staring at you!  Question: How did it affect your decision-making? Did the choices make it easier or harder?

Social psychologist Sheena Iyengar, PhD, a management professor at Columbia University Business School and Mark Lepper, PHD, a psychology professor at Stanford university conducted a study:

    "The team showed that when shoppers are given the option of choosing among        
    smaller and larger assortments of jam, they show more interest in the larger
    assortment. But when it comes time to pick just one, they're 10 times more likely to     make a purchase if they choose among six rather than among 24 flavors of jam."

The psychology behind buying and selling homes is not unlike this.  There are so many opinions masked as facts showered upon buyers and sellers about the market --what to do, what not to do etc etc. 

And this can be overwhelming to the consumer.  Moving to another home is one of the most stressful events in our lives and much as we'd love to do an in-depth market study of our dream home, more often than not time and patience are just not available at this crucial time.

Unfortunately, many people resign to the position of being passive-- not being actively involved in researching of locations and specific market conditions.  This in turn can cost you thousands of dollars in missed opportunities.

Let me be clear and say that the consumers ultimately knows what's best for them, my job as an agent is to give you the whole picture, the pros and cons.  Not to tell you what to do.  Take time to understand your options at the same time be careful of analysis paralysis.

You don't have to do all the research on your own.  Start with the basics like supply and demand. Armed with basic market knowledge, approach your trusted real estate agent and ask for more questions until you understand the whole picture.

It will be of great help.