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A professional Realtor understands that a home buyer's objections show interest and are "buying signals". A buyer, however, is hesitant to voice objections directly to an owner for fear of hurting his or her feelings. You must anticipate any objections or problem areas so that they can be overcome.
Follow-Up on Your Buyers Most properties are not sold until the second or third visit. Buyers expect professional agents to follow up. For Sale By Owners appear anxious and weaken their negotiating position when they contact a buyer. This is a situation from which you can't hide. Therefore, there is only one thing you can do. You must let the buyer know that you will be calling him/her if he/she doesn't call you. The buyer will know that your house is still unsold, but you might appear less anxious.
Be the perfect host when you call, but don't push! The buyer probably has seen many properties, so remind them about some of the features or the address of your property. Try to get the property addresses of the other homes they have seen, then look at them! Many times your conversations after the initial showings will center around comparison talk!
Negotiating With Your Buyers Buyers deal directly with owners to SAVE money. A buyer is giving up what a professional agent would normally do for him or her, such as showing properties, arranging financing, preparing the sales agreement, etc.
The only reason a buyer is willing to handle all of these things himself is to SAVE money. If the buyer is the one who saves money, the owner is the one who LOSES the money. The buyer thinks he/she can save the Real Estate Brokerage fee by negotiating directly with the owner. The owner also thinks he/she can save the brokerage fee by eliminating the broker.
In essence the owner and the buyer are trying to save ONE brokerage fee, and usually the owner loses. What this means is that many For Sale By Owners may do all the work to sell the house and because of his/her poor negotiating position, give the brokerage fee to the buyer. The owner might also end up paying for services which a professional agent might have provided. So, in order to put as much money in your pocket the only thing you can do is price your home at MARKET VALUE. |