In a hot real estate market, where there can be 7 offers on one home, your home buyers need that competitive “edge,” especially those who have to compete with “cash” offers.
However, presenting the homebuyer as a “person” and not just another “contract” appeals to the seller’s emotional side of the transaction—that they are selling their home to someone who cares about it as much as they do.
Not all buyers can write a great letter—so this is where you might pitch in to help them. Here are a few tips to get them thinking about it from both the seller’s and the buyer’s point of view.
Flatter the Seller – Write about the reasons why they like the home, commenting on the decorating, how clean the home is, certain features that are unique versus the other homes they have viewed.
Why They Are the Best Buyers for the Home – Keep it short — and keep it personal. Two or three reasons are enough. An example would be, “If we are lucky enough to buy your home, it would mean______.”
Paint a Mental Picture for the Sellers – Write about the things they intend to do if they win the bid. An example would be, “Your back patio is perfect and I can see our family and friends gather there for our annual pig roast.”
Show Financial Stability – Explain why they are financially able to buy the home, including a copy of a pre-approval letter, how long the buyers have been on the job and what they do for a living.
No Whining – Keep the letter positive and upbeat. The seller doesn’t care how many offers they lost out on, or if they want to buy the home because there are no stairs.
Ask the Question – This is the part where they ask the seller to consider their offer. An example would be, “We would be thrilled and honored if you would accept our offer.”
Recap the Important Reasons – This could be short sentences or bullet points listing the reasons why they want the seller to consider their offer.
Thank You – The thank you part of the letter is also important. Instead of signing “Yours Truly,” they might thank them for their time reading the letter and considering their offer. If there are other family members (like children or parents), ask them to sign the letter too.
Grammar and Spell Check – While their “personality” has to shine through with the letter, spelling and grammar are important because they will also be “judged” on the level of care they put into writing it.
Read the homebuyers’ letter and make suggestions — they may have forgotten to mention an important reason to buy the home. The sentence might be confusing. Or maybe it could be worded a little bit better.
Keep the letter to one page, or about 500 to 700 words.
Have you helped homebuyers write a letter to the seller? What would you add to this list? Let me know and I’ll update the post.