While working with a number of client sellers this year, I’ve come to note in some a state of “Paralysis by Analysis”. Brought on by the recent falling market and the uncertainty of whether we are at the bottom of the market (and coupled with an unknown election outcome) there is real loss of direction for many. I’ve seen decent offers to purchase given to sellers or made recommendations to reduce the price due to feedback and/or inactivity with the result being an inability to take some kind of action in order to move forward. Usually the common request is to review again the information about comparable sales (even though they’ve been receiving them throughout our listing period) or waiting for a few more showings. Data and showings aside, what I really see is a kind of paralysis to make a decision on a big investment even though every day it isn’t sold is costing them in other ways (actual dollars, time, worry, upkeep, etc).
Very timely, I came upon the article today, “Making No Decision is Still Making a Decision“. Even though the author is primarily talking about leadership in business, I found myself substituting in the word “family” for the word “organization” when he says, ” It is hard enough to act on decisions when just facing your own insecurities. Throw the complexities of your organization [family] into the mix and the angst increases exponentially. Politics, lack of resources, uncertainty, doubt, and fear all mess with our minds right when we are on the verge of taking action.” The author goes on to say that taking a leadership role means being bold and accepting that it isn’t always going to be perfectly right but it’ll always move you forward and be better than being in a stagnant state where a loss is more probable.
