The right way to deal with buyers

Sell your property easily

"What a beautiful house! Why are you selling it?" Anyone selling a property has to expect lots of curious questions in emails and phone calls, and at the latest during viewings, some of which may be more appropriate than others.

Garcia Immobilien

YOUR SPECIALIST FOR REAL ESTATE

We explain what you should look out for and how you can respond if prospective customers put you in uncomfortable situations.

The right way to deal with buyers

Sell your property easily

Garcia Immobilien

YOUR SPECIALIST FOR REAL ESTATE

We explain what you should look out for and how you can respond if prospective customers put you in uncomfortable situations.

Respond correctly – negotiate correctly

Garcia & Co. Immobilien

Find property Your personal consultation

Private real estate sellers often tend to make one mistake: they are too optimistic. This starts with underestimating the effort involved in a sale and often ends with committing to a buyer too quickly. This isn't a problem if the buyer is actually solvent and doesn't get cold feet at the last minute. However, unexpected situations can arise even during the viewing and negotiation phase. Here we explain what you can expect in a private sale and how you can master these situations.

Not everyone who views a property intends to buy it. On the one hand, there are the so-called viewing tourists: people who enjoy viewing properties in their spare time. On the other hand, there are also interested parties who are seriously considering buying but lack the purchasing power or creditworthiness. This is a major annoyance for you as the seller, as it delays the sale of your property.

The basic rule: anyone who is seriously interested will have no problem providing their full contact details in order to receive a detailed property description or the link to the virtual tour, for example. Professionals also do not reveal all the information directly in the property description. By asking clever questions, you can gauge how serious they really are. For example, ask what their dream property looks like, how long they have been looking, and whether they already have financing in place. The clearer the answers, the clearer the interest. The next step should be to check the creditworthiness of the interested parties.

Tip: Serious prospective buyers will make time for a viewing appointment during the week, while sightseeing tourists prefer the weekend. So if you don't offer appointments on weekends, sightseeing tourists will often drop out.

"Do you currently still live in the property?"

First things first: in emails and on the phone, it is better to be cautious with information that is not directly related to the property. Instead, point out that you will answer any further questions during the viewing. Also, make sure that the person is a serious buyer before you give out your exact address and private phone number. If the supposed buyer asks questions about whether you currently live in the property or what your working hours are, be careful, because burglars often use listings on real estate websites to find out when a property is empty.

"Why do you want to sell?"

The question "Why are you selling?" is usually just a polite way of making small talk and not a clever attempt to uncover any flaws. So you don't need to worry about saying the wrong thing. If you are selling because of divorce, financial problems, or other reasons you don't want to talk about, it is perfectly legitimate to simply refer to "personal reasons." This is a polite way of saying that you do not wish to discuss your reasons for selling, but that they have nothing to do with the property itself.

"Can you hear street noise in the apartment?"

Prospective buyers often ask questions like this to get a better idea of what it's like to live in the property. If prospective buyers ask whether the noise from the street is disturbing or whether the neighbors' children are always so loud, it is best to be honest and point out, for example, that the noises are there but that you quickly get used to them.

"Do you need to heat the property a lot in winter and is there any mold anywhere?"

Honesty is particularly important when asking about possible defects. You are legally obliged to disclose any defects that are not immediately apparent. If it later transpires that you deliberately lied or concealed defects, you may be held liable.
Professional real estate agents will arrange viewings without the seller present if requested. This means you don't have to answer any awkward questions about your private life and can leave it to the agent to clarify any defects.

The most important prerequisite for price negotiations: a confident manner. Since you know what your property is worth, this is no problem. With a professional valuation, you don't need to worry about prospective buyers trying to drive the price down by pointing out flaws. You can respond by saying that these have already been factored into the price. Thorough preparation for price negotiations is also important. If you know the buyer's possible arguments, you can prepare appropriate counterarguments. However, the disadvantage here is that most private sellers hardly have the time to prepare so meticulously.

Those who do not have much experience in negotiation and are not very familiar with the real estate market will find such negotiations even more difficult. Buyers can often be quite stubborn—after all, a lot of money is at stake. Only experience can help you avoid feeling insecure. Every professional real estate agent has this experience. They know pretty much all the tricks and know how to deal with prospective buyers. Their extensive market knowledge makes it easy for them to counter the arguments of interested parties.

The list of reasons why a prospective buyer might pull out at the last minute is long. Here are two typical examples.

– Financing is not yet in place

It's a classic scenario: your prospective buyer shows up at the viewing well dressed, talks about his secure, well-paid job, and claims that everything has already been agreed with the bank. So what could possibly go wrong? You promise him the property and turn down the other interested parties. Why put yourself through unnecessary agony and constantly respond to new viewing requests? Then you receive a message from the buyer. Unfortunately, the bank has not approved the financing after all. Your buyer has a bad credit rating because he never paid back his student loan or does not have enough equity to obtain a loan.

The lesson here is to check the financing of your prospective buyers before turning down others. Keeping in touch with several potential buyers may be exhausting in the long run, but it's the only way to ensure that you end up with a suitable buyer.

better not to buy a home together after all

You decide to sell your property to a couple who you like at first glance. They already know exactly how they want to furnish the children's room and are sure that their dog will love the large garden. And then suddenly they back out – just before the appointment with the notary. They've had second thoughts and the house isn't quite right for their current situation. Or, to put it another way, they've split up.

The lesson here is that buyers can seem very determined, but before the purchase agreement is signed, they can still back out. Even if it's not the easiest solution, it makes sense to stay in touch with other prospective buyers after you've already decided on one.

Working with a real estate agent pays off in several ways: You don't have to go to the trouble of staying in touch with all interested parties yourself. In addition, this way, interested parties don't feel like they are being strung along. Finally, if they turn you down, the agent can show them other properties.

Regardless of who owns the property in the future, e.g., through sale or transfer to family members, I can continue to live in the property for the rest of my life.

What are the benefits of lifelong right of residence?

Which is better: bequeathing real estate or gifting it?

Both are subject to legal and tax considerations. Therefore, always seek professional advice in advance.

Both have different advantages and disadvantages. It depends on your personal situation.

Which is better: real estate annuity or lifelong right of residence?

Don't have the time to deal with all the prospective buyers, conduct negotiations, and review financing options?

Garcia Immobilien stands for experience, reliability, and trust. We have been selling, buying, and renting real estate in the Olpe district for over 20 years. We know what is important when evaluating a property, which documents are important for the sale, how to address the right prospective buyers with a property listing, how to organize viewings optimally, and how to select the most suitable buyer from among several prospective buyers. Contact us now for a free introductory meeting. , how to organize viewings optimally, and how to select the right buyer from among several interested parties. Contact us now for a free introductory meeting and we will be happy to help you sell your property.

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Riccardo Giamporcaro

Real estate consultant for residential properties

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Pedro Garcia

Managing Director - Real Estate Consultant for Commercial Properties & Investments

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Peter G. Beuth

Real estate consultant for property owners Real estate valuations – DEKRA-certified expert in real estate valuation D1

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