As we discuss this Self-talk series it’s important to understand what the buyer is thinking in these scenarios. By understanding what they are really saying when they start a verbal negotiation, we have a better vantage point to gauge their level of interest.
Buyer says: “We like this house, but not at this price. Ask the builder if he’ll take less.
Buyer thinks: “No commitment here. Just run the idea up a flagpole and see if anyone salutes it. If I can get them to throw a discount or incentive without committing, I can come back later and ask for more. Lets see how much I can get.”
You think: “He’s on a fishing expedition. It’s a waste of my time if this is not a serious buyer. Without the check and contract I’m merely having a conversation. I’m going to move this conversation to an obligation. I need to get him to make a commitment or move on.”
You say: “Sorry, verbal offers are not even considered by our builder. However, if you want to find out if the builder will consider your offer, all I need is your signature on a check and a contract and then you’ll know. Without the paperwork and the deposit check, my builder will not even review your request. And without him looking at it, your answer is an automatic ‘no.’ However, if I present your request with consideration and an agreement, then possibly the answer would be yes or he’d give us a counteroffer. So, as you see, in order to move your request forward, we must prepare the paperwork first. Let’s do that now, so I can present your request by the end of the business day.”
As you can see from this scenario if the negotiation begins on a verbal level, it’s very easy to confuse a serious buyer with a tire kicker. But if you move them from talk to paper you will find out just how sincere they are and how motivated to purchase your home.