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3. FSBO sellers usually think they're being
smart. Encourage that belief and they'll be more open to your offer.
When they have a good idea, tell them so. It is not unethical to
make people feel good about themselves when negotiating.
4. They usually don't have a plan for where to
close, where to buy a title policy, where to keep a good faith
deposit, etc. Be ready with simple solutions to all these problems.
Walk them through the process while letting them feel in control,
and you'll both be happier.
5. They have often spent more than they
anticipated. Advertising and other costs have already eaten into
their imagined extra FSBO profit. Be generous in negotiating any
pre-close expenses - as long as you get your price and/or terms.
6. Pass over problems and return to them later.
Once a seller has invested more time in a negotiation, he'll be more
inclined to give you what you want.
Professionals will tell you that most houses "for
sale by owner" net less than those sold by an agent. It's too late
for the seller to recover his money and time spent, however, so he
usually just wants to get the thing sold as easily and quickly as
possible. Help him with that, and you can get a good real estate
investment at a good price.
Steve Gillman has invested real estate for years.
To learn more, and to see a photo of a beautiful house he and his
wife bought for $17,500, visit
http://www.housesunderfiftythousand.com/ |
Houses
For Sale By Owner - Negotiating Tips