I do a fair amount of training in our offices regarding personality profiles, sales psychology, etc. A while back, I had a buyer who loved my listing, made an offer and had the inspection done. She got cold feet and wanted to terminate her offer. At first, the impulse is to fight and save the deal. Instead, I had my client do the opposite.
I called them and let them know the whole situation, why the buyer wanted to walk, etc. I also explained to them that I was going to allow this buyer to quickly get what she wants, give her a week to calm down and then see if I could save it.
Sure enough, we got her the T&R paperwork within hours, which relieved the pressure of her cold feet. I didn’t communicate with anyone for about a week. On Monday morning, I called the buyer and asked her if she had seen anything better than my listing over the weekend. She said no. I let her know that she wasn’t the only one looking for a home of this quality in this location and that it wouldn’t last much longer. I empathized with the home buying process she was going through and all the emotions that entails. After a calm conversation, I asked her if she would like to consider re-engaging. I told her the sellers understood her situation, etc. and there would be no bad blood.
In the end, we got the deal done and everyone was happy, which is the whole point of real estate – creating Win-Win-Win situations.