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Working with Buyers
Make sure you don't let any prospective buyers slip through the cracks!
If you've spent the time taking great photos of your property, creating
a dynamic listing, staging and beautifying your home, and having open
houses, you want to make sure you follow through with professional and
courteous communication with any potential buyers.
Tips for initial contact with buyers
• If your phone number is included in your online property listing,
make sure you have an answering machine or voice mail to record messages.
You may want to include something in your outgoing message that says,
"If you're calling about the home for sale on Housing.com, leave
a message and we'll get back to you as soon as possible."
• If you have only included an email address in your online property
listing, make sure you check it daily and that you don't have junk mail
filters that are blocking buyer emails.
• Have a plan for when you're out. Make sure anyone in the house
that might answer the phone is instructed on how to handle calls about
the property for sale. Keep paper and pens by the phone for them to take
messages.
• Whether communicating with the buyer by phone or email, you'll
want to get the buyer's name, day and evening phone numbers, or cell phone.
• Keep a log to stay organized. Get a notebook to record the information
for all buyers that contact you. Note the day and time of their calls
or emails and all contact information. It also helps to make a few brief
notes about any conversations you have with a buyer. It will help you
remember who they are and what you've already discussed. If you notice
that most buyers are asking the same questions, you may want to update
your online listing to include the answers.
Reeling in potential buyers
• The most important thing to remember
is to remain relaxed and friendly at all times. You may not like
everyone that comes to see your property. You may be insulted by certain
comments or questions. You may get tired of people snooping in every drawer, cabinet, and closet. But you do want to make a sale, so keep a smile on your face.
• When a buyer has shown interest in your property and has requested
another viewing, it's time to roll out the red carpet. Invite them to
come back at their earliest convenience.
• On any subsequent visits, make sure the house is in the same or
better condition than the last time a buyer saw it.
• This is not the time to turn on high-pressure sales techniques.
Allow the buyers to wander through the property at their leisure. DO NOT
follow them around!
• When they are finished with their tour, invite them to sit down,
offer them a drink, and let them know you are available to answer any
and all of their questions.
• This is the beginning of the negotiation process so be sure to
answer all questions truthfully. It would be a big waste of everyone's
time to lie about a problem that will be discovered shortly during a home
inspection.
• It's important to remain relaxed and friendly.
The buyer may ask questions or make negative comments about the property
that offend you. Don't take it personally and remember that you're trying
to make a sale.
• Should a buyer be ready to take move to the next step, let them
know that you require the buyer to put their formal offer in writing.
• Your real estate agent, real estate lawyer or contract attorney
will provide you with contract forms to give to the buyer. If you are
managing the sale on your own, you can use real estate contract software
to generate forms and contracts.
Tips for negotiating
• It's not a good idea to negotiate the price over the phone or
email. Always encourage a potential buyer to take a look at the property
before you have a discussion about price.
• Have confidence! If a buyer starts arguing with you about your
price over the phone or email, simply state that you think the price is
fair and comparable to other homes that have sold in your area. If in
fact you are willing to negotiate, let the buyer know that you will consider
offers made in writing from qualified buyers.
• Usually, the buyer's primary goal is to get the lowest price possible.
Don't be offended if they suggest a price that seems ridiculously low
to you. Simply restate your asking price and that you believe it to be
fair.
• We don't recommend negotiating the sale price verbally. However,
you may decide to chat with the buyer about possible ways to structure
the deal. Please be sure to state to the buyer that even though you are
open to discussion, nothing is binding until it is in writing.
• If you are willing to negotiate a lower price, tell the buyer
that you will need to see their entire offer, including evidence that
they can qualify for the mortgage, before you can discuss further price
negotiations.
A note about real estate agents
Whether or not you are selling your property with the help of a real estate
agent, agents will contact you. They will call, slip a card in your mailbox,
or stop by at your open house.
They may want to get you to list your home with them or they may have
a potential buyer for you.
If you are not interested in listing with them, be polite and let them
know, but also write down their contact information. If you have decided
to offer a commission to buyers agents, inform them of your terms and
your open house schedule.
Agents can be a great resource for information — after all, selling
and buying homes is their business. As long as you've got them on the
phone, ask them what they think about your price, if they know of anything
else nearby that might be for sale soon, or what the sales trend has been
like recently in your town.
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