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We're all under the influence when searching for an online, here are a few tips on how to avoid it and make the most out of your search

Anchoring

Don’t be over-reliant on the first piece of information. For example, when negotiating, the first offer establishes a reasonable range of possibilities in each person’s mind.

Availability

People overestimate the importance of certain information. Don’t rely on the experiences of one person. For example, some neighbours can be critical, try to engage with others to gain a better perspective.

Bandwagon

Groupthink is a powerful effect. Don’t be sucked into making decisions based on what others think. Just because market conditions may not suit them, ultimately your decision should be made based on your own financial circumstances.

Blind spot

Being too specific in your search may create blind spots. Be flexible and open to what’s on the market, you might gain where others lose out. For example, sacrificng a garage for an extra workshop or storage room.

Confirmation

When we really like something, we tend to listen to information that supports our view. If that house is too good to be true, ask a trusted friend to evaluate it for you or request a HomeBuyers report to ensure what you’re seeing is what you’re getting.

Conservatism

There are new studies being conducted all the time. New regulations and guidelines are designed to protect you, make sure you are up to date with these by speaking to your local agent. Don’t let old trends influence your ability to change, for example cancer causing Asbestos was only banned in the UK in 1985.

Survivorship

Sometimes we only judge on what’s survived thus far, if the only property thats been sold in the area is being used as a bench mark for price, it may influence every other vendor as well. Remember the house is only worth, what you are willing to pay for it.

It is always prudent to stay impartial on your search, if you need more information or simply guidance, get in touch and we can give you a few more tips. Call us on 01483 789 007.
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