How Buyer Letters Can Help You Win
Updated: Feb 5, 2021
Real estate is full of emotion. From buyer excitement on making their first offer to the month-long decision to sell a home. Each carrying their own daunting weight and stress about whether the appropriate decision was made. But an emotion that neither party anticipates can come from a buyer letter.
Agents have many tricks to make an offer stand out. Sometimes it's money, and sometimes it is contingencies. On occasion, buyers find themselves unable to increase an offer, or contingencies are not in play, and the battleground is equal with other buyers. What could make a buyer stand out above others if it isn't money? And it isn't security? We write the letter.
The letter is simple, but it can intrigue a seller. Most of the time, a home seller is not a seasoned veteran and has only sold 1-2 homes, at most, in their lifetime. So, expecting a letter from a potential buyer is not normally on their radar. Tips and tricks to purchasing a property come in all sizes, just like homes, and none of them are guaranteed to get a buyer anything. But they certainly can and have helped.
What every letter needs:
Initial reaction to the home. When the buyer first drove up, how did they know this was the home for them? What did they feel?
Emotional attachment to the home. Pick something in the home that draws the buyer in. Why would your family enjoy that?
What about the area? Is the neighborhood highly sought after? Why would your family want to live in that area?
Tell the seller about the buyer. Who are they? Why are they looking for a new home? How does this home meet your requirements?
Thank the sellers for allowing you to view/enter their home and allowing you to present them an offer.
This is a recipe that we have used with our clients and have seen many successes. Sometimes a buyer can't be the highest bidder, but if a seller can feel an attachment to the buyer's family. Well, in our experience, that means you have a chance.
P.S. - One thing to never do in a personal letter is whine about how many offers you put in before this one. A seller wants to know that you would choose them 100% of the time. Not that you are out there making offers on every home that hits the market. Make the seller feel special.
P.S.S - Include a photo of the family
P.S.S.S - Keep the letter to a page or less