Posted by Nicole on December 28, 2003 at 13:39:32:
It’s all about finding out if they need to move or just want to move. Many FSBOs put a sign in the ground and will only sell for a certain price. Obviously, this price is at or above retail (selling with a broker). As an investor, you want wholesale.
Ask “when will wanting to sell turn to needing to sell?”; you will know if they are motivated to sell or not.
Ask "how much do you need to net from the house?; the naive ones might actually tell you!
Ask “have you had any offers?” They will usually say either low-ball offers, lots of lookers but no buyers, or they are expecting a few offers (which is obviously nothing until the offer is on the table).
Whatever their answer is, ask “why do you think no one has bought your house yet?” (find a few things to compliment about the house). This is another motivation-leading question.
Without knowing if they truly need to sell, it’s all a moot point.