No matter how you decide to market your home, whether on your own or with the assistance of an Agent, the one "player" that is absolutely necessary is the Buyer! They come in all shapes and sizes and have a wide variety of motivations and philosophies. Knowing about some traits of many buyers can only put yourself in a better position when it comes time to market your home and negotiate a sale.

Some Types of Buyers You May Encounter

The First Time Buyer: If your home falls into the pricing area that will be of primary interest to first time buyers, it is important to understand that, to a large degree, nervousness and uncertainty often fuels their decisions. They, like everyone, often make mistakes when doing things for the first time. They sometimes make ridiculously low offers, they ask for things to be done that are nearly impossible, they will occasionally drag their feet instead of writing an offer. Getting upset with a first time buyer accomplishes nothing. Negotiating fairly and honestly will remove much of the fear inherent in that first purchase and consummate the deal much easier.

The "Uneducated" Buyer: This has nothing to do with education level, and has everything to do with their preparation. They often will refuse to use an Agent because they think it will save them money. They have no idea what property values are in the area, so they make absurd offers. They believe that all houses are "marked up" 20% for negotiating room and will begin their offers with this in mind. With some "education," this buyer will often show some flexibility in their negotiations.

The "Know it all" Buyer: You often can tell this buyer nothing. Nor can their Agent, their Lender, or their Attorney. They don't read books on buying real estate (they don't need to), they don't take advice (that would show weakness) and they are often extremely difficult during negotiation. Hold your ground. If they do not show signs of common sense, find another buyer!

The Investor: Although investors may be interested in properties in almost all price ranges, entry level homes will be their primary focus due to the ease of renting such houses. The investor will have virtually no emotional interest in your home, and will negotiate that way. To the average investor, your home is strictly another item of merchandise, and they will make offers and negotiate that way. Although it occasionally happens, don't count on an investor falling in love with your house and paying more money than it is worth!

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