Dear Monty: We will soon sell our first home. It is well-maintained. We have a good handle on the price range. We want to sell direct without an agent.
We have heard opinions from friends and co-workers on what to say and not to say during a showing. Do you have any thoughts to share?
Monty’s Answer: People buying and selling homes come from different life experiences. Some have moved many times, while others have only moved once. There are various reasons for buying or selling a home. Some have considerable knowledge about homes, construction, materials and maintenance. Others need to learn more about any or all of these subjects. And some base their beliefs on poor or outdated advice.
A typical example of outdated advice is that a buyer should start a negotiation with an offer 10 percent below the seller’s asking price. The advice is better if the comparable sales sell for 10 percent less than this home’s asking price. What if the comparables were selling for 10 percent more?
The most critical point for both parties to remember is to stay on track. Both parties have the same objective: both want a successful transaction. The parties are “interviewing” each other. The seller is most concerned about your motivation and your finances. The buyer’s primary concern is the home’s condition and the floor plan. The best suggestion is to speak when spoken to and let your home do the talking.
Unwritten Rules
Be on time. Some sellers will have booties to slip over shoes, but if there are none, ask the seller to ensure shoes are OK. Ask permission to open doors.Don’t look in the medicine cabinet. Prospects don’t bring pets, and sellers should arrange for pets to be gone or caged. Please don’t use the bathroom.
Asking questions is OK. Both parties should give short and honest answers when asking and answering questions. Get all your questions answered and tour the exterior on your way to the car. Take a data sheet either way, as it can be a comparable if you are still looking when the home sells.
Subjects To Cover
Who Are You?Introductions should be brief. “Hello, I’m Jim Smith, and this is my wife, Susan. We moved here from Denver a year ago and rented to give us a chance to study the area, and we'd like to find something in this neighborhood.”
Your Reason For Selling
“Hello, Jim and Susan. I’m John Brown. Our kids are grown, and we’re downsizing and moving to Iowa. Would you like to walk through alone, or would you like us to show you around?” Every prospect is different, and both methods are acceptable.
Common Subjects
The move-out expectation; the age of specific components; what stays and what doesn’t? The seller should have a house description similar to an agent data sheet. The seller condition report (RECR) is helpful information. What does the seller like best about living here?
The Simple Truth: Homes Sell Themselves
A seller can make their home more attractive than the competition by making it easier to buy. One example of this is providing a presale home inspection. Including a home inspection saves the buyer money, increases the selling price, addresses the buyer’s main concern and spares both parties from home inspection stress.
