5 Reasons Buyers Change Their Minds About Writing an Offer

After decades as a full-time Realtor, I’ve seen plenty of buyers walk into a home convinced they’re ready to make an offer, only to change their minds before that offer is ever submitted. Sometimes it’s cold feet. Other times something specific happens along the way that shifts their thinking entirely. Below are the five most common reasons I’ve seen buyers change their minds about writing an offer.

Why Buyers Change Their Minds About Writing an Offer

1. The Seller Talked Them Out of It

There are countless reasons why a home seller should never be home for showings. One of the main reasons is that some sellers will talk a buyer right out of making an offer on their home, often without meaning to. Not all sellers give prospective buyers the nickel tour, pointing out every single thing they’ve ever done. However, some do, and along the way they ask the buyer a million questions that make them uncomfortable.

When are you looking to move? Are you paying cash? Do you have children? Then there are the sellers who let the buyer know they aren’t desperate and aren’t going to give their home away. The seller may think they’re simply being upfront or helpful by answering questions and setting expectations, but comments like that can quietly create doubt and change a buyer’s mind just as easily as too many questions can.

So even though a buyer may have originally walked into the home thinking they might make an offer, the seller can easily change that outcome if they’re home for the showing.

2. The Listing Agent Talked Them Out of It

Unfortunately, if the listing agent needs to be present for showings, they too can make buyers change their minds about submitting an offer. Just like home sellers, some agents won’t stop talking, and sometimes they say something that ends up working against the seller.

When an agent keeps insisting the community isn’t gated but it’s super safe, this will probably make the buyer wonder how safe the neighborhood actually is. In most situations, the listing agent’s job during a showing is simply to make the property accessible and let the buyer and buyer’s agent evaluate it without unnecessary commentary.

3. Multiple Offers on the Table

When a seller has multiple offers on the table, it’s not uncommon to see buyers change their minds about submitting an offer even if they love the property.

Not all home buyers want to get involved in a bidding war, even if they have a strong chance of winning it. Then there are buyers who don’t want to submit their highest and best offer, particularly when they suspect the seller is going to ask everyone to improve their terms anyway.

Some buyers would genuinely rather walk away than spend more than they originally intended just to beat another buyer to the table. This is actually where the difference between a strategic offer and simply throwing out a number hoping it sticks matters most, since a buyer who understands the market is in a much better position to decide whether competing is even worth it.

Others feel like the only way to win and have their offer accepted is by overpaying for the property. Since most buyers don’t want to feel like they’re overpaying, they simply don’t submit an offer at all.

4. Unrealistic Pricing

When a buyer walks into a home for sale, they usually don’t know how much it’s truly worth based on recent sales. It’s next to impossible to determine that without actually viewing the home first. A buyer may love a house listed at $750,000, then feel very differently once their agent shows them that comparable homes nearby have been selling closer to $700,000.

So most buyers won’t spend time reviewing recent comparable sales without knowing if the home is even of interest. Once they’re ready to write an offer, though, they most certainly will, and it’s at this point they sometimes discover the home is overpriced. That’s often when a buyer changes their mind about submitting an offer entirely.

An overpriced home can be a red flag. Is the seller being unrealistic and difficult to deal with? Do they owe more than the home is worth? Are they even motivated to move? An overpriced home can also make a buyer wonder whether the seller will be just as unrealistic later on, when it comes time to negotiate repairs, an appraisal shortfall, or other terms. In any event, some buyers just don’t want to waste time dealing with a potentially unreasonable seller.

5. Found Something Better

Some buyers continue looking even after they find a home they really like. They may not be actively scheduling more showings, but they’re still watching new listings pop up online. If something better comes along before they submit their offer, whether it’s a lower price, a better lot, or simply a home that feels like a stronger fit, they may decide to pursue that property instead.

What Sellers Can Do to Avoid Losing a Potential Offer

Since a few of these reasons are directly within a seller’s control, there’s real opportunity here. Leaving the home during showings whenever possible removes the temptation to talk a buyer out of making an offer. Keeping the listing agent’s commentary to a minimum during showings avoids the same risk. And pricing the home realistically from the start prevents serious buyers from walking away the moment they check comparable sales.

Most importantly, don’t treat a buyer’s verbal intention to write an offer as though it’s already an offer. Until an offer is actually submitted and accepted, there isn’t an accepted purchase contract.

Frequently Asked Questions

Why do buyers change their minds about making an offer? It usually comes down to something that happens during or shortly after the showing, such as an oversharing seller or agent, discovering the home is overpriced, facing competition from other buyers, or simply finding another property they like better before they’ve submitted anything.

Can a buyer change their mind before submitting an offer? Yes. A buyer can change their mind before submitting an offer. Until an offer is submitted and accepted, there generally isn’t a purchase contract between the buyer and seller.

Should a seller keep showing a home after a buyer says they’re going to make an offer? Yes. A verbal intention to write an offer is not the same as an actual offer, let alone an accepted one. Sellers and listing agents should continue showing and marketing the home until a written offer is actually submitted and accepted.

Can a seller or listing agent cause a buyer not to make an offer? It happens more often than most people realize. Oversharing during a showing, whether it’s the seller answering too many personal questions or a listing agent talking too much about the property, can plant doubt that stops a buyer from following through.

Is an offer binding before the seller accepts it? No. An offer itself is generally not a binding purchase contract until it is accepted as required by the applicable contract and law. For more on when an agreement actually becomes binding, a verbal yes generally isn’t enough.

Final Thoughts

After decades in this business, I’ve learned that a buyer saying “we’re going to write an offer” is very different from actually receiving that offer. There are several reasons why home buyers change their minds along the way, and while some of these reasons can be prevented by the seller or their agent, others simply can’t be.

Buyers change their minds all the time about submitting an offer, so even if a buyer says they absolutely love a home and plan on writing one up, things can change before that ever happens. Once a buyer is truly ready to move forward, knowing everything that goes into a complete offer tends to make that final step feel a lot less overwhelming. In the meantime, sellers should continue showing their home and listing agents should continue marketing the property until an offer is actually accepted.

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About the Author

Top Wellington Realtor, Michelle Gibson, wrote: “5 Reasons Home Buyers Change Their Minds About Writing an Offer”

Michelle has been specializing in residential real estate since 2001 throughout Wellington, Florida, and the surrounding area. Whether you’re looking to buy, sell, or rent, she will guide you through the entire real estate transaction. If you’re ready to put Michelle’s knowledge and expertise to work for you, call or email her today.

Areas of service include Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres, and more.