5 ways overconfidence kills real estate deals

Mood of the Market

I love a discount. It's a serious rush-generator for yours truly. Yet and still, there are several things I just don't believe in cutting costs on. Attorneys, for one. Surgeons, for two. Yoga pants -- some things just need to work, perfectly, every time, and the discount version causes bad results. And I feel the same way about overconfidence. Much of the time, it actually serves our interests to take a reasonable estimate of our abilities (which we tend to be overly conservative about, as a rule), and jack it up 10 or 15 percent: When we go into a sales pitch, or start a business, say -- maybe even when it's time to approach the man or woman of our dreams and start that first, terrifying conversation. But when it comes to financial decision-making -- especially in the real estate realm -- overconfidence only ever causes bad results. Here are some of the ways overconfidence rears its ugly head in the world of real estate. 1. No showings, no offers. When sellers are overcon...