In a seller's market like 2021, buyer psychology shifts to FOMO-driven behavior -- waiving contingencies, overpaying, and making irrational decisions under competitive pressure. Understanding this psychology matters because appraisals serve as the reality check that grounds the market.
Buyer Behavior
- Fear of missing out (FOMO)
- Willingness to overpay
- Waive contingencies
- Act irrationally
Market psychology drives behavior.
Appraiser Role
Appraisals ground market in reality.
Despite psychology, appraisal reflects true value.
Protects buyers from psychological decisions.
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Market psychology? Understanding behavior aids decisions. Contact me.