Today I want to bring up the decision making process into the surface.
In Wikipedia the definition of decision-making is: “Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios. Every decision-making process produces a final choice. The output can be an action or an opinion of choice”.
In buying process it is important to make a right decision fast based on information you have been provided. It saves you tremendous amount of time, energy and money as well as prevents you from disappointment you might be facing if you don’t make this decision.
I can give thousands of examples when decision delay caused additional amount of money that could be avoided if action was taken immediately.
The recent one happened this week. I showed a few units to my client and one of them looked particular attractive. Great functional layout with no wasted space is very important, specifically in purchasing condominium. When I pulled the information on sales of similar units in the building, I noticed, not many were listed and sold during the whole history of the building and few that were listed, sold much faster compare to average days on a market for the building.
The massage is clear… this is high demand model. It means owners of these units tent to hold on to them for their own use. Even for investment purposes, I noticed, they rent out much faster than another models. Win-win situation, no matter how you look at it.
Every project has units with great floor plans and no so good and strong indicators like average days on a market and % of asking/sold price compare to the rest of the building should be considered as a massage: “ Don’t delay, make a decision!!!”
By the way… the unit was sold in one day of been on a market!!!