It is counterintuitive that too many choices can cause problems with decision making but this has been shown in quite a few studies. In a longer video, Barry Schwartz talks about how too many retirement plan choices by an employer caused lower participation by employees effectively losing them an opportunity to earn money.
This happens in real estate as well. In 2005 the real estate market almost became a daily auction with multiple bidders and people scouring every resource to find a house. There wasn’t a lot of waiting for the “right” house, they just wanted the “right now house”.
I have had a couple of clients admit that they were really picky and it might be hard to find them a house. Those clients are actually easier to please. Once we find the house they are done. They walk in and they know. They don’t have to weigh the pros and cons of several homes.
The better you know your criteria for something you want, the less likely the Paradox of Choice will leave you paralyzed to make a decision.
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