Real estate markets across the country are selling faster than ever, leading first-time homebuyers to make quick decisions they may regret later on. In fact, a study from Bankrate found that nearly two-thirds (64%) of millennial homebuyers who purchased their new home during the pandemic, ended up having buyer’s remorse.
Buyer’s remorse is an unfortunate predicament that happens from time to time, typically because the buyer feels rushed to make a decision. Only afterwards do they realize the deal doesn’t suit their budget or housing needs. In today’s red-hot housing market, where homes are getting sold in a matter of days and bidding-wars are fueling intense competition, homebuyers are under unbelievable pressure. According to the National Association of Realtors, the average number of days a home stays on the market before being sold is 17 days, which is less than half of last year’s average of 43 days.
Luckily, a company called Flyhomes recently launched the Flyhomes Guarantee for Buyers, designed to be the antidote to homebuyer’s remorse. The guarantee is that if buyers don’t love their home within the first year, Flyhomes will list the home on their behalf and waive their commission. Homeowners can decide to list for any reason with no special penalties. This should provide enormous relief to buyers who wind up regretting one of the biggest financial decisions of their lives.
“In this environment, buyers must make a huge decision about one of the most basic human needs, shelter, within a few hours of their first viewing,” said Tushar Garg, co-Founder and CEO of Flyhomes. “This can cause uncertainty and anxiety in the process, and potentially regret afterward. We’ve made it our mission to eliminate these things from the experience. Our team of real estate experts does their best to ensure that clients get it right the first time. We can't take all the risk and cost out of buyer’s remorse, but we can do our best to be there as great partners and alleviate the pain. No one should live with buyer’s remorse on their home.”
When a client uses Flyhome Guarantee services, Flyhome will provide an all-inclusive listing service and waive its commission fee. The buyer only needs to compensate their agent (2.5% to 3%) and pay applicable excise taxes and seller closing costs.
Additionally, if their home qualifies, clients can use the Buy Before You Sell program to buy their next home using Flyhomes Cash Offer before selling their current one.
To learn more about Flyhomes and the products they offer, visit the Buy Before You Sell page on the Flyhomes website.
