Every investor has their own language, and sometimes that language is frustratingly vague.

One of the most ambiguous (and common) phrases you’ll hear when speaking with buyer leads is:

“I’ll know it when I see it.”

On the surface, it seems harmless, even polite. But for wholesalers and acquisition pros, it’s maddening.

• Is the buyer serious?

• Do they even have a buy box?

• Are you wasting time sending them deals they’ll never buy?

This article breaks down what’s really going on when a buyer says, “I’ll know it when I see it,” and gives you practical tools to:

• Uncover what they actually want

• Guide them to clarity

• Avoid wasting time on tire-kickers

• Turn vague buyers into repeat closers

Let’s dig in.

What This Phrase Actually Means

Buyers rarely say things for no reason. The phrase “I’ll know it when I see it” may sound noncommittal, but it usually falls into one of the following psychological buckets:

1. They Lack a Clear Investment Strategy

These buyers aren’t dumb, they’re just early. They haven’t bought enough deals (or any) to know what works for them. So instead of defining clear criteria, they rely on gut feeling.

This is especially common in:

• New investors

• BRRRR hopefuls without lending lined up

• Burned-out agents trying to “switch” to investing

• Cash buyers who inherited money but not investing knowledge

They’re looking for confidence. And they haven’t found it yet.

2. They’re Avoiding Commitment

Some buyers are afraid to say what they want because it:

• Limits their options

• Exposes them to being “sold”

• Makes them feel pinned down

So they hide behind ambiguity. This gives them a safe psychological out: they never have to admit they passed on a great deal, because they never claimed to be looking for anything specific.

This is usually a defense mechanism against hard sales pressure or past regret.

3. They’re Hunting Unicorns

These buyers have very specific criteria, but they think revealing it will make you “markup” the deal or cherry-pick it yourself.

So they speak vaguely until they spot something that matches their hidden checklist. These are the “needle in a haystack” types.

If you hit the bullseye, they’ll buy. If not? They’ll keep “waiting to see.”

Why This Behavior Wastes Your Time

A buyer who won’t commit to a buy box, timeline, or criteria is nearly impossible to serve effectively.

You can’t:

• Filter your list for what they want

• Comp deals that match their goals

• Predict objections

• Know when they’re serious vs. stalling

And worst of all?

You may start blaming yourself for not “finding the right deal”, when in reality, the buyer was never ready to begin with.

That’s why learning to decode this phrase is critical.

How to Get Past the Vagueness: 5 Buyer Psychology Levers

Here are five techniques you can use to uncover what a “I’ll know it when I see it” buyer really wants.

1. Ask for Anti-Goals

Instead of forcing them to tell you what they want, flip it:

“I totally get it, a lot of investors say that. Out of curiosity, is there anything that’s an instant turn-off for you? A deal you’d never touch?”

This helps you:

• Identify deal-killers

• Clarify their buy box by exclusion

• Understand risk aversion without confrontation

Even vague buyers usually know what they don’t want.

2. Present Two Extremes

Create a quick A/B test to force clarity:

“Let me throw two extremes at you: one is a rough property in a rough zip, but the numbers are juicy. The other is turnkey in a better area but thinner margins. Which one pulls you in more?”

They’ll lean one way.

That lean is gold, it signals their comfort zone and helps you narrow future options.

3. Ask About Their Past Deals (or Lack Thereof)

For experienced buyers:

“What’s a deal you bought recently that felt right?”

For new buyers:

“Have you walked any properties recently that felt close to what you wanted? Even if you didn’t buy?”

This reveals patterns in:

• Condition preferences

• Price sensitivity

• Risk tolerance

• Emotional triggers (what “felt right”)

4. Dig Into Their Exit Strategy

Even if they won’t commit to a property type, they usually know what they want the outcome to be.

“What are you hoping to do with your next investment, flip it, rent it, Airbnb it, wholesale it…?”

Then reverse-engineer their preferences from that.

• Flip = fast timeline, cosmetic work preferred, strong resale comp support

• BRRRR = strong rent comps, stable area, solid ARV

• Buy-and-hold = cash flow, low maintenance, tenant demand

• Wholesale = spread, assignability, investor-friendly title

Suddenly, you have a roadmap.

5. Give Permission to Change Later

Sometimes buyers stay vague because they’re afraid of boxing themselves in. Give them an out:

“Totally fine if your criteria evolve over time. But it’d help me a ton to get a starting point, even just your top 3 preferences. We can adjust as we go.”

This reduces the pressure and opens the door to cooperation.

Body Language and Tone Clues

The phrase “I’ll know it when I see it” can mean wildly different things depending on how they say it.

Red Flag Tone: Shrug, deflection, low eye contact

• Likely stalling

• Doesn’t know what they want (yet)

• May be info-gathering, not serious

Neutral Tone: Curious, calm, open-ended

• May be early in the process

• Needs guidance

• Possible new relationship if nurtured right

Green Flag Tone: Confident, grounded, smiling

• Likely experienced

• Waiting for a rare type of deal

• May test you first, but become a loyal buyer

When to Push, When to Let Go

You don’t have time to chase ghosts.

Use this rule of thumb:

You’re not being rude by moving them off your list. You’re respecting your time.

How to Warm Up a Cold “I’ll Know It” Buyer

If a buyer says the phrase, but you sense potential, here’s a step-by-step approach:

Step 1: Build Credibility Fast

• Show them you’re active and know your market

• Mention recent deals you moved and how fast

• Ask for their input before you send anything

Step 2: Use the “3-Deal” Rule

Tell them:

“I’ll send you just 3 deals this month, and I’d love quick feedback so I know how to improve the next ones.”

This frames your relationship as collaborative, not transactional.

Step 3: Ask for a Soft Score

After each deal, ask:

“On a scale of 1–10, how close was this to something you’d buy?”

If they give a 4 or higher, keep tweaking.
If it’s all 1s and 2s? Archive or reprioritize.

The Bigger Lesson: Buyers Are Human

Many buyers don’t know how to articulate what they want.

They’re scared of:

• Being wrong

• Wasting time

• Looking dumb

• Getting sold

So they default to vague language. Your job isn’t to push, it’s to gently guide them into clarity.

That’s what makes you more than a wholesaler, it makes you a pro.

Final Takeaways

If a buyer says, “I’ll know it when I see it,” here’s your plan:

• Don’t panic, it’s a common stall rooted in psychology, not disrespect.

• Use questions to uncover anti-goals, leanings, and exit strategies.

• Test engagement by offering a few curated deals and asking for reactions.

• Watch for tone, it tells you more than their words.

• Prioritize clarity, focus your energy on buyers who give feedback, and refine as they go.

And most of all?

Protect your time.

Not every buyer will be a fit today. But by staying curious, professional, and empathetic, you’ll build a reputation as someone who’s easy to work with, and that alone will filter the serious from the vague over time.