Memphis FSBO Helper

This blog is aimed at educating the For Sale By Owner in the intricacies of selling their home themselves. So many agents will tell them they can't sell on their own, which is simply not true. You can sell yourself, however, just like a agent, you must be careful, since the "devil is in the details".

Name:
Location: Germantown, Tennessee, United States

I was born and raised in Memphis, TN. Attended 12 years of Catholic school. I am married with five kids in range from 7 to 21. I spent 14 years in the Air Force (reached E-7).

Wednesday, July 19, 2006

FSBO'S, GET MORE AT CLOSING: LEARN TO FLINCH!

We have been taught (erroneously) to be tough negotiators. We have been taught to be like the tough-minded, gun-toting, poker player from the old west. Don't flinch! Don't let them know what you are thinking! It's a sign of weakness - or is it?

Consider this - You have a buyer who views your home and has expressed an interest. You and your spouse/partner are scrambling for boxes. The kids are crying because they don't want to leave their friends (who incidentally , they won't remember after the move).

The buyers thank you for showing the house and will discuss it with their advisors (aka family, realtor friend, mortgage company, mechanic, etc...) and will get back with you. You are asking $159,900 and will pay some closing costs. You and your partner discuss what you will accept.

The next day the potential buyer (previously known as the enemy) calls to set up an appointment to discuss the details. You meet at the kitchen table and, after pleasantries, they suggest you "get down to business". In your mind, you know you won't take anything less than $155,900 before any concessions. The buyer slides the offer across the table and the numbers jump off the page like a spitting cobra. $142,900 and you pay all the closing costs!

Despite the fact you have a rising feeling in your stomach and your partner is looking for your nitro pills, the dog is barking crazy, you look at the buyer and ask if you can discuss the offer with your partner. "Can you believe this guy? Does he think we are nuts?". He may not have before, but because you didn't flinch, he is now thinking you might at least consider it!

Key Point To Remember: Flinch in response to a lowball offer, because if you don't, they will think you might take it. Without being ofensive, LEARN TO FLINCH!

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