I get about 2 of these a year, someone walks into the office and says “I want to buy the property for 150N with the pond.” After a quick review, I informed them that, well, it’s not for sale!

Now comes the game plan. Starting with a bit of history, how long has the current owner owned the property? How much did they pay for it? It’s paid? Are the taxes up to date? How are the compositions? What would be a reasonable offer?

With all the information gathering done, I spend a bit of time discussing my commission with the buyer, in which case the buyer will most likely pay my commission seeing that the property was not for sale, no listing contract.

We completed the commission agreement and prepared a real estate contract, this is what we will be taking to the property owner. It is important that you have an offer or contract ready before you approach the owner. Too many times agents go out and “knock on doors” for listings with the spiel “I have buyers for your home, just sign this 2 year listing agreement and I’ll bring them in right away” you don’t want to be that agent!

When you approach the homeowner, get to the point, let them know that you have a client who is interested in buying their property and that you have a formal written offer for the property.

The first response is almost always: “This place is not for sale, I will never sell this place!”

The second answer is usually: “How much are you offering?”

Generally speaking, if you can get the buyer and (potential) seller together, these will be some of the smoothest transactions you’ll ever do.