There are different methods used by Real Estate Agents, when conducting Buyer Inspections. Is is a very important part of the selling process and requires some explanation. ReDIY has great tips on what to do when selling your house privately.
Prior to the inspection, you will have made a decision as to how you will handle the inspections. Open For Inspection -v- Privately appointed Inspections. A good suggestion is to do a combination of both. It is very important to obtain the full name and contact details of every person who inspects the property.
The Open House.
Advertised with an address. You do not really know who is inspecting, whether they are Buyers, Lookers, Agents or even Sellers. Sellers look through open homes, for a comparison to their own, prior to going on the market. At the inspection, you need to sort the wheat from the chaff. It is good practice, to sort them before the inspection.
Advertised without an address.
This will make them send through an enquiry, if genuinely interested. It gives you an opportunity to have a chat with them to ascertain their situation, prior to the inspection.
Best times for an Open House.
Most Agents conduct theirs in 30-minute intervals on a Saturday morning. This is prime time for them. It does create competition for the time slots though. Having yours on Saturday morning is still wise, but perhaps have another on Saturday Afternoon, Sunday Afternoon or a mid-week early evening. Give buyers a choice to inspect. If only Saturday morning, yours just may be the one they forego, to inspect another one. Sunday afternoons are a time when all the parties involved in the purchase should be able to attend and should be feeling relaxed and in no hurry to visit another open.
Private, appointed Inspections.
When they make the enquiry, give them a call. This is an opportunity to have a chat with them and find out whether they are ready to buy now, what is on their "Must have" list, whether they are looking at others, etc. This will indicate to you, whether they are serious or not. You can then appoint a time that is convenient to both you and the potential buyer. It will be a more relaxed inspection. You will be on hand to answer any questions and point out some unseen benefits of the property.
Do not allow your emotions to get in the way.
A Seller that looks or acts desperate, indicates urgency and oversells will do harm to the price. They do not know that you need to sell urgently, (If you do or do not is irrelevant) or even why you are selling. Don't let on that you have already bought another property. You need to show that you are not in a hurry. Buyers look for signals that may indicate to them that they may have an opportunity to grab a bargain. Take the emotion out of selling privately.
Look out for "Buyer" signals.
You too will be listening and observing their body language whilst they are inspecting. Give them space to have a good look. Wander discreetly a few paces back.
Find out their thoughts.
You can ask for feedback at the end of the inspection. "So, what do you think?" "Would you like to buy it?" If they are not forthcoming with feedback, let it be for now. Give them a call later in the day. If they indicate that they are not interested, say something like "That's OK, but would you mind telling me why? I'd really appreciate some feedback." Don't take any feedback personally. If it is from genuine buyers, it could be constructive. Perhaps the price is wrong. If the feedback comes from the lookers, just ignore it. They are not buying anyone's property.
Good luck, you only need one buyer. Make sure that you check out the Legal requirements when selling your house privately.