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For Sale by Owner Negotiation

The Phone is Ringing!

For sale by owner negotiation techniques, are one of the (many) skills to learn when selling your own house. It's important to learn how to handle those phone calls, e-mails and the front door inquiry.

We will start with the phone inquires first, as this will probably be the most frequently used method buyers will use to contact you, when selling for sale by owner.

How to Handle Buyers at Your Front Door

e-mail Requests from Buyers

Family approaching for sale by owner house

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Why Purchasers REALLY Call

OK, here is one of your first tips. This might be hard to believe, but buyers call on properties to try and eliminate each one. Huh?

Yep, they ask enough questions so that they can find something wrong with your property so they can cross it off their list.

I always like to cover the why with you, so here it is in a nutshell. Prospects that are seriously looking for a home to buy, will circle a bunch of newspaper ads, and then start phoning each one.

They really don't want to look at 45 properties, so they try to eliminate as many as possible so they only have to look at perhaps 4 or 5 of their top choices.

Don't forget, when it comes to homes to consider buying, they will be probably be looking at far more "listed with a Realtor houses" than for sale by owners.

For Sale by Owner Negotiation
Whats the Lesson?

The lesson when using for sale by owner negotiation skills is, Talk Less - Listen More. Don't volunteer information.

That hot prospect on the other end of the phone is not going to put an offer in until they actually see the property. Right? So what is your job? Not selling the home. Nope.

Your one and only goal when handling a phone inquiry is to get an appointment with the prospect to view your home. That's it Period.

What does the Buyer Already Know?

If you followed the lesson on how to advertise when "sell my house by owner", you know that the prospect already has the location and price. If you need a refresher or haven't been to the "how to advertise" section yet, you can go there now at Real Estate Advertising Tips I'll wait here. :)

So, if the buyer has the location and price, you either have a prospect that is looking in your area and price range, or perhaps a real estate agent looking for a listing. For more about that subject; The Different Approaches Used by Real Estate Agents

You see, when it comes to a for sale by owner negotiation and you include the price, location, and some great features, you eliminate the useless calls that just discourage you. If the purchaser doesn't want to buy in your area or can't afford your property, why do you want to waste time on that call? Exactly!

Lets do an Example Run of a "not so good" For Sale by Owner Negotiation on the Telephone

Ring! or more likely, Tchaikovsky's 1812-Overture :-)

You: - Hello?

Buyer: - Yes, I'm calling about your home for sale on Whispering Pines Boulevard. How many square feet is it?

You: - We have 2200 sq. ft finished on both levels.

Buyer: - How many bathrooms?

You: - We have 2 full baths, one on each level.

Buyer: - Is there a garage?

You: - Yes we have a detached single garage

Buyer: - How old is the house?

You: - I think it was built about 25 years ago.

Buyer: - Do you have air-conditioning?

You: - Yes we do.

Buyer: - How far are you from the elementary school?

You: - Oh, its right across the street from us.

Buyer: - Oh, we don't want to be near a school. Too much noise. (now comes the great escape). I'll talk to my wife when she gets home. Note: She's standing right beside him.

Perhaps we'll give you a call later today to set up an appointment.

You: - OK, the lot is totally fenced, and has a large garden with apples, and grapes. We have a fireplace in the family room....

Buyer: - Huh, huh.

You: (with some desperation in voice) - The master bedroom has his and her closets, and we were thinking of adding a 2 piece bath next year.

Buyer: - Huh, huh.

You: - Blah, blah, blah.....Hello? hello?

What Went Wrong?

Lets go back to what I said earlier. When using good for sale by owner negotiation techniques, and you receive a phone inquiry, your job is to get the appointment, not to sell the house.

You aren't selling a home over the phone. It won't happen. Your ad should have had enough information to entice the buyer to come take a look.

If they had the address, they can drive by the house first.

If they have the price, they know they can afford it.

If you had the # of bedrooms, the square footage, mentioned the garage, air-conditioning and # of bathrooms there should be enough information for the buyer to come take a look.

Here Comes Another Call

Ring!

You: - Hello?

Purchaser: - Yes, I'm calling about the house you are selling on Whispering Pines Boulevard. Are you still for sale?

You: - Yes we are. Did you see our ad in the Daily News?

Purchaser: - Yes we did.

You: - Well I guess you have a fair amount of information already on our home. Would you like an appointment to view the property sometime today or this evening?

Purchaser: - umm...umm....Let me ask my wife...muffled conversation. Hello?

You: - Yes?

Purchaser: - Sure, could we come over around 6:00 tonight.

You: - 6:00 should be fine and your name is?...

Purchaser: - George.

You: - OK George, if something comes up and you can't make it, could you give us a call?

Purchaser: - Sure.

You: - Just in case, what is your number?

Purchaser: - 555-1234

You: - Thanks, we'll see you at 6:00 then. I'm looking forward to meeting you.

What Went Right?

Using great for sale by owner negotiaion techniques, YOU took control of the conversation. In the first call, the buyer was in control. What is the easiest way to take control with a for sale by owner negotiation? Ask questions. The other party feels obligated to answer them.

In the first call, the buyer asked question after question until he found a reason to eliminate your property from his list. "Whew! One less to look at Mary". On the second call you asked the questions.

When practicing for sale by owner negotiation techniques, you HAVE to ask for the appointment at some point and the sooner the better. If they don't accept your first offer, let them ask perhaps two more questions and then ask for the appointment again.

Why are people afraid to ask for the appointment? Because of my favorite saying of ALL time, which I believe was first said by a motivational speaker, named Zig Ziggler.

"The Fear of Loss is Far Greater, Than Any Hope for Gain"

Think about that for a moment. People fear loss (someone saying no to them) far more than any hope for gain (that the other party might just say yes). Let me put your mind at ease.

By asking for the appointment when selling your own house, you have NOTHING to lose.

By not asking for the appointment you have the potential for loss.

If the buyer isn't going to view your house, asking for the appointment won't change anything, one way or the other.

A Good Idea

When practicing a for sale by owner negotiation, it is always good practice to get a name and phone number of the other person. When the buyer above said George, you might have continued this way.

Purchaser: - George

You: - Hi George, my name is Doug, is there just you coming?

Purchaser: - No, my wife will be there also.

You: - and her name?

Purchaser: - Mary

You: - and your last name is.....(trailing)

Purchaser: - Brown

Then you go into the phone number bit.

Note: You might also want to check the authenticity of the caller. You could call back a bit later and say something like, "Is this George Brown?" Yes. "You have an appointment to view my home on Whispering Pines Boulevard at 6pm this evening." "Is there any change we could make it 6:30?"

What you are doing here, is making sure the buyer is who they say they are and confirming the appointment.

In a Nutshell

Take control of the conversation by asking questions.

Ask for the appointment as soon as comfortably possible.

If the caller does not take the appointment request the first time, answer 1 or 2 questions then ask again.

Never volunteer information - Your goal when using these for sale by owner negotiation skills, is to get an appointment with the buyer to view your property, not to sell it.

A Couple More Things

When on the telephone speaking to a potential purchaser, try to smile. Talk in the way you would talk to a friend if they were standing in front of you. You want the person on the other end to think, "I like this person!". Believe it or not, this is also part of the for sale by owner negotiation lesson!

If you are distant, sound like it's a bother to talk to the caller, or just plain grumpy, you can actually lose the showing, and perhaps even selling your home. Ouch!

When asking for a last name or a call back number, I always found the easiest way was to trail my voice with a slight questioning tone like this;

You: - Whom am I speaking to?

Prospect: - George

You: - George.....? (voice trailing with a questioning tone)

Prospect: - Brown

or try this one

You - Whom am I speaking to?

Prospect: - George

You: - And your last name....? (voice trailing with a questioning tone)

Prospect: - Brown

It's hard for me to explain but you can practice this for sale by owner negotiation technique with perhaps your husband, wife, or friend. When you ask the trailing question, try raising your eyebrows.

When selling your own house, don't fret over the calls that don't result in an appointment. Real estate agents get these calls by the tons! When you are selling a home by owner, you will get far less because you have the price, address, and some important features listed in your ads.

For More Information about Handling Calls

Just click on one of the thumbnail photos near the top of this page.

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