How To Deal With Home Buyers

As a "by owner" home seller, most of your experience involves dealing with the buyers presenting them your house, agreeing on a price, and setting the payment terms. Whether they are represented by real estate agents or by themselves, you should deal with them with utmost professionalism. Selling a house is for the most part a business transaction, and it is only necessary to do all the involved processes in a professional way. Remember, buyers are likely to pass up a house, no matter how lovely, if they know they have to deal with a difficult owner-seller. In selling a house, not only does your property matter, your attitude toward the buyers also counts.

It takes patience to find buyers on your own. It takes patience to negotiate with buyers. And it takes a lot more patience to come to an agreement with a potential buyer. But if you often find it quite hard to deal with the buyers with the required patience, maybe you need a little help.

Here are some situations you may find yourself in with potential buyers and the ways you can properly respond to them:

1. The potential buyer finds your asking price too high. Don't bid farewell at once. You need to make some adjustments and propose a counter offer. For instance, you will keep the price as it is, but you are willing to leave some appliances for the new owners use. The buyer will have three options: he won't buy the property, he will agree to your term, or he will make another counter offer. Depending on his response, you can make another counter offer. The idea here is to never give up on a buyer and to try to come to a point where both parties win. You will both have to make compromises along the way, but unless he asks or offers something that is totally unacceptable, do not be afraid to pursue a negotiation with a buyer.

2. The potential buyer comments negatively about your house during an open house. Don't take comments personally. Keep in mind that you are selling your house as a product and that any comment is not meant as an attack against your personal style. Respond professionally, instead. For example, tell the buyer the house can accommodate various style patterns and it can be revamped once he moves in.

3. The potential buyer is neither pre-approved nor pre-qualified. Respectfully tell your buyer that he needs to find a lender to be able to buy the house. Make a recommendation if you know one. If the buyer claims he is pre-approved (the lender makes sure the buyer is well capable to pay the loan) or pre-qualified (the lender covers a specified amount), contact the lender for confirmation. Remember, never sell the house to a buyer with dubious financial capabilities and records.