Ask your prospects how your house compares to others they have seen. Whatever they say, let them talk. Do not argue with them about anything, even if they are completely wrong about something. Thank them for their time and their observations.
If it is obvious the house will not work out for them, tell the prospects that you might have something more suitable in the near future. Ask them about their particular requirements, and then ask if you can contact them if you acquire a home that might work for them. Usually, they will be very candid with you and will invite you to follow up later. This information is very valuable market research for your next flip.
Sometimes, the prospects will have misunderstood something. They will think the house is not right, they cannot afford it, or the school district is different. Pick out what seems to be their most important objection, and correct that misperception if it is possible. For all other objections, wait and write a follow-up card. Thank them for their time, state that you have reflected on their comments, and these are your thoughts on the subject. Then, counter each of their arguments in a very nice, unconfrontational way. In this manner, you have corrected the record, but you have done it in a manner that does not say, “You are wrong and I am right.”
The best of all possible worlds is when the prospects give you buying signs. They talk about how to arrange the furniture, colors to paint the walls, and weekend activities. You should be ready for those prospects. Have a contract already printed out, with their names and all information filled in, except for the price. Hand the contract to them and say, “This house seems to be the right one for you. Would you like to take this contract home, think about things, and be prepared to make an offer if you decide you want to go forward?” Never attempt a hard sell to obtain an immediate signature, and never be in the position of having to say, “Can I get a contract prepared in the next day or two and bring it over to you?” You could lose valuable momentum if you have to wait several days to put a contract in their hands.