In 2021, nearly 95% of home buyers used online tools to look for a home. This is why investing time and resources in creating compelling internet listings have already been considered lucrative. Some of the best practices include:
- Writing a highly engaging headline and property description
- Extending a virtual tour
- Taking professional-grade photos of your home and;
- Staging your home — even the bathroom
But what do you do when you don’t have the budget and time to do all the physical preparations? Well, you can harness the power of words and talk your way through!
Here are five (5) ways on how to speak to your buyer enough to let them give you that sweet “Yes, we will take it!” news:
Ask Your Buyer the Right Questions
Marketing 101 always teaches us that we have to see things through the eyes of our clients, consumers, or homebuyers before we start crafting our sales strategy. This is because various social, psychological, demographic, and physical factors affect every person’s buying decision. In fact, the global market research industry generated an average of US$59.73 billion between 2014-2019 alone just to study buyer/consumer behaviors for different niches.
When it comes to your homebuyer, getting to know them is also key to knowing how to appeal to their emotions. But don’t get us wrong; there’s a difference between being curious and nosy, and you don’t want to be at the weird end of the spectrum, so make sure to stay professional.
Use the “But I Can” Strategy
In July 2020, when the 2nd wave of CoViD was building up, only about 5.8% of the housing inventory in Georgia was affordable to people who had at least $25K income. In order to afford more than 67% of houses for sale, one needed to have at least $100K in annual income.
With the Coronavirus pandemic affecting millions of livelihoods, it wouldn’t come as a surprise if the number of people who can afford to buy a house is lesser today and will only gradually increase during the post-pandemic scenario.
With this in mind, if you want to sell your home fast today, it would be wise to put into context how your buyer is doing before you say “no” to any counteroffer. If they ask to have the price reduced, but it’s not very feasible for you, think of an alternative value you can give. You can start by saying, “I understand the price may be too high for you, but your price point isn’t also possible for me. BUT I CAN give you… if …”
If you can master the art of meeting your buyer halfway, you may be closing that deal sooner than you think.
Adjust to Their Schedule
The gist here is that for every meeting or schedule you’re going to have, always ask your buyer first when their most convenient time is. Although it doesn’t necessarily mean that you must have all the time in the world for them, asking them first is always a good show of courtesy. This is a small yet underrated strategy that makes your buyer feel respected and valued.
This is highly important, especially if it’s your first time meeting your buyer. They’re going to have expectations, and showing courtesy would be a great first impression among others.
Set the Right Price and Give The Reason
While the cyclical occurrence of bidding-wars means that people may be willing to pay more than the asking price, your pricing should remain reasonable. Properties can be valued in different ways. As a homeowner trying to find an excellent price for your home, two (2) of the most relevant for you would be the assessed value and the market value.
The assessed/appraised value is often lower than the market value because it doesn’t consider all of your upgrades, developments in the neighbourhood, and your comps. Market values are more aggressive than assessed values because it has the sellers’ best interests (but of course, you can’t say this to your buyers).
When you give your price, always sound logical about it. Tell your buyers how yours is already a fair price considering your comps and the condition of your property. A bonus tip? Give them a price that doesn’t have any zeros on it, like $198,953 instead of $200,000. This will sound like you really did your research.
Don’t Sound Too Desperate
It’s normal to feel pressured, anxious, and desperate, especially when you’re almost at your target sale date. However, projecting this onto your buyer might only give you the opposite reaction, and that is your buyer backing out. Keep your cool and calm as you entertain and engage with your buyer. A tip to achieve this is to prepare before any meeting and remind yourself to stay reasonable.
If you’re not getting any leads or you need help transacting with your buyer, you can contact us at HomeSold GA. We’re licensed brokers in the State of Georgia, and we can connect you to the right buyer who will buy your house at the soonest time possible. Call us and talk to us at 770-668-4888 and let’s see how we can start selling your home.