How Buyers Behave When Home Prices Are Down
In This Chapter
◆ Predicting buyer behavior
◆ The buyer’s most common trait
◆ The buyer’s biggest fear
◆ How to handle lowball offers
◆ The “what’s wrong with it?” perception
Buyer behavior patterns are predictable. They behave one way when prices are up (which we discuss in the next chapter) and another way when prices are down. Psychology is a major factor in selling real estate. When you truly understand how a falling market affects a buyer’s actions—how he thinks and what motivates him—it’s amazing how much more effective you will be, and as a result, how much money you can make on the sale. On the other hand, if you do not understand buyers, it can cost you tens or even hundreds of thousands ...