Questions Buyers May Ask
Here are some more for sale by owner open house tips when you are selling for sale by owner. Buyers will ask questions similar to what they might ask a real estate agent. Be careful with your answers.
Many of us want to be honest when we answer questions that someone else may ask us.
When it comes to selling your own house, you have no obligation to answer questions of a personal nature including your reason for selling.
You do, however, have an obligation to the buyer to answer questions truthfully, when asked about the house and property itself.
An example would be: "Have you ever had water in the basement?"
If the answer is yes, you can affirm that and if repaired, you might say that the problem has been addressed and solved by a certain action taken.
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Buyer: Why are you selling?
You: When we sell, we are looking at purchasing another house.
You: We are hoping to find a larger or smaller house.
You: We have our eye on another property.
Do Not Say
A for sale by owner open house tip: All the answers above will ensure you of a low-ball offer. Buyers don't care what your problems might be. They are only concerned about what kind of "deal" they can make.
Buyer: Are You Open to Offers?
You: If you put an offer in writing, we most certainly will take a serious look at it.
That is the only answer to that question, period. Make sure you have some contracts on hand in case they want to write an offer! To obtain just go to For Sale by Owner Contracts.
Only one answer: "If you write up an offer, we most certainly will take a serious look at it."
Buyer: We are working with J. B. at "We Sell Lots of Houses Realty". Are you cooperating with real estate agents?
You: We are open to agents that have an interested buyer. Are you in a written buyer's contract with J. B.?
This question and answers can go in several directions so we'll cover it on a different page than this for sale by owner open house tips page.
More Tips on What Not to Say
It's too early, and you don't have enough information.
More important for sale by owner open house tips: There is no advantage for you as a for sale by owner in saying anything negative about the real estate industry as a whole. You have nothing to gain and a real possibility of loss.
You Should Ask Questions Also
If you have a buyer that seems to show interest in your house, these for sale by owner open house tips include asking some base questions.
Remember, the party that ask the questions, controls the conversation. We covered some of that on the Handling Inquiries Main Page Here are some more real estate open house tips:
Ask a question, wait for an answer, either say nothing for a short time or just talk about something benign for a bit then throw in another question.
Watch, observe, listen. Ask another question. The questions should be said in a matter-of-fact voice, and softer questions should be first than harder ones.
You: Have you been looking for a house to purchase for very long?
Wait for an answer. Pause......small talk.
You: What area do you live in now?
Wait for an answer. Pause.....small talk.
You: Do you have your present house on the market now?
Wait for an answer. Pause.....small talk.
You: Have you found any houses you really liked yet?
Wait for an answer. Pause....small talk.
You: Are you working with a real estate agent?
Buyer: Yes we are working with J.B. at "We Sell Lots of Houses Realty".
You: Oh, J.B. I've heard some good things about J.B.
Tips When the Buyer is Working with an Agent
You: If you buy a for sale by owner would you purchase directly through the owner, or go through J.B.?
Buyer: We would go through J.B.
You: That shouldn't be a problem. Would you like to set up a time with your agent to view the property a second time?
These conversations can go in so many directions that I'm not even going to attempt to go further on this page of for sale by owner open house tips and real estate open house ideas. How to handle different scenarios will be covered later.
and the most important of the for sale b y owner open house tips?
NEVER - NEVER - NEVER
Negotiate an offer verbally. You WILL lose.
"If you write up an offer Mr. and Mrs. Buyer, we'd be happy to take a serious look at it."
For More Information about For Sale by Owner Open Houses
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