Selling your home on your own? Do not reveal these to Buyers! Selling a home privately can be challenging but it can also be rewarding. One thing is guaranteed: if you do not work with a real estate agent you will have to answer a lot of questions directly from buyers and buyer’s real estate agents.

Regardless of whether an interested buyer visits your home alone or with an agent, you don’t want to reveal information that could put you in a compromising situation when offer time rolls around.
Here are five things you shouldn’t discuss if you want to ensure a smooth sale that works to your advantage:

1. Your Motivation for selling

Motivation is often the key in negotiations. Revealing too much information as to why you’re selling your home may give buyers the impression that you’re desperate to leave your property behind. On the other hand it could also give eager buyers the impression that you are not really motivated to sell. How best to respond? When asked why you’re selling, keep your response vague and short. A neutral answer such as ‘down sizing’ may be a good idea.

2. Things you planned but never did

Always wanted to renovate the kitchen but never got around to it? That’s not the type of information you want to share with home buyers. Revealing a list of upgrades and repairs, that you wanted to do but never got around to, gives the impression that the home isn’t move-in ready and that there are many issues with the home that could require costly renovations.

3. The number of showings you’ve had

It’s likely potential buyers will ask you how many people have visited your home. This is their way of determining how many interested buyers have come through your doors. While it may be tempting to provide them with a high number, don’t. Since the amount of people who have visited your home doesn’t directly influence whether or not a potential buyer will make an offer, you’re better off remaining vague and saying you’ve had “a few visits.”

4. Number of interested buyers

Revealing that there are a slew of interested buyers may deter someone from making an offer simply because they feel the competition is too high. On the other hand, saying that there has been no interest in your property could create doubt and cause a potential buyer them to believe that there is something wrong with the home. Unless you’ve received a formal offer, you’re not obliged to discuss how many buyers have shown interest in your home.

5. Verbal negotiations

As a seller you could be liable for verbally negotiating and sharing information. Should a potential buyer ask you if you are willing to negotiate, be very cautious with your response. Only communicate your intentions (and follow through) in writing. An offer must be in writing to form an agreement.

Selling your home on your own? Do not reveal these to Buyers! If you have any questions or comments contact Kelly Wilson.