If you’re a homeowner who has recently sold your home, you may be wondering if you made the right decision. Or, if you’re a real estate agent or investor, you may have clients or leads who are experiencing seller’s remorse. 

So, what defines seller’s remorse in real estate? 

Below, we discuss the definition of seller’s remorse and outline some of the most common reasons why people experience it. We’ll also provide some tips for overcoming seller’s remorse if you find yourself in this situation.

What is seller’s remorse in real estate?

Have you ever bought something and then immediately regretted it? Maybe it was a pair of shoes that were too expensive or a piece of furniture that didn't fit in your space. 

Whatever the item, buyer's remorse is a common feeling. But what about seller's remorse? Just like buyers, sellers can also regret their decision to sell after the fact.

Seller's remorse typically happens when a seller feels like they made the wrong decision in selling their home. They may regret leaving their old neighborhood, regret not getting more money for their home, or simply regret the decision to sell at all. Whatever the reason, seller's remorse is a real feeling that can happen to anyone.

If you're thinking about selling your home, it's important to be sure that you're ready for all of the potential outcomes. That means being prepared for the possibility of regretting your decision down the road. That is why the team at Prevu Real Estate developed a list of signs to look for to help prevent a sale you are not happy with. 

The signs of seller’s remorse 

Seller's remorse can manifest as uneasiness, anxiety, or even depression. There may be a sense of missing out on memories associated with the item, or feelings of regret about change. 

In some cases, people may even experience physical symptoms, such as a racing heart or trouble sleeping. If you're experiencing seller's remorse, it's important to take some time to reflect on your decision. 

Once you've had a chance to process your emotions, you may find that you're more comfortable with the sale.

How to avoid seller’s remorse 

To avoid seller's remorse after a home sale, it's important to take your time and weigh the pros and cons carefully before putting your home on the market. You may want to ponder on why you decided to sell and weigh that against why you chose to buy the property in the first place. Once you figure out your reasoning, ask yourself if selling is the right move when weighed against the benefits of moving into a new home. 

If you're feeling apprehensive about moving forward with signing a listing agreement or contract of sale, don't be afraid to voice your concerns to your real estate agent. They may be able to provide additional information that could help you make a more informed decision. 

But do not wait long, as you do not want to have a change of heart after your agent starts finding able and capable buyers interested in property. 

What to do if you experience seller’s remorse 

If you experience seller's remorse during a sale process, in some cases it may be too late to stop the transaction without the financial consequences of a binding contract. However, there are a few things you can do to try and alleviate your feelings of regret. 

First, talk to friends and family about the sale you are considering and why you're second-guessing it. It can be helpful to get an outside perspective on whether or not you are making a wise decision. 

Second, if you're struggling to come to terms with the regret of your sale either emotionally or physically, speak to a therapist or counselor. They can help you process your feelings and make peace with your decision. 

Finally, in the future, try to take your time when making major purchases and really think through whether or not you'll be happy with the item in the long-run. If you do experience seller's remorse, there are ways to work through it and move on.

Examples of sellers regretting their sale

It's not uncommon for sellers to experience regret after selling their home. In fact, a study by the National Association of Realtors found that nearly one-third of sellers regretted their decision to sell. 

There are a number of reasons why sellers may regret their sale, including sentimental attachment to the home, anxiety around finding a place to move, buyer's remorse on the next property, and financial challenges. 

For instance, if you grew up in a town and decide to pick up and move, the remorse may center itself on missing your friends, family, and familiar haunts. Another reason why you may feel remorse is if you raised a family in a home and the children are woven into the social fabric of the area. Moving your family in the middle of a school year can be upsetting for kids, and their sadness can easily influence the emotions of a sale. 

Whatever the reason for regret, it's important to remember that it's normal and completely understandable.