With the flood of multiple offers arriving daily at seller’s front doors, today’s competitive buyer needs a way to stand out above the crowd. Being financially well qualified is no longer the magic bullet that gets them to the winners circle first. If a buyer is going to be successful in beating out other well qualified buyers, they need a competitive edge. This can be surprisingly accomplished with a simple, well written, personal letter presented as the cover to a formal home buyer purchase offer.
This challenge of recent times has further added considerable frustration for buyers to the home buying experience. Additionally, the present marketplace has added considerable work for agents who sometimes have to write 20 plus offers before meeting with success, thus creating stress for the entire team. It is especially heart breaking watching a first time home buyer lose out on a home they have fallen in love with. What should be a relaxing, pleasant experience has turned into an often negative and discouraging one for many.
After personally experiencing this uncomfortable situation, I started to think that there must be a way to do something different in order to get my clients noticed… but what was it? This situation bothered me for some time, then one day it hit me! I needed to somehow appeal to the emotions of the seller by demonstrating that a purchase offer comes from a real person. This came to light as I was thinking back on a particular time when I was showing a young couple, buying their first home, a property just listed that morning. We arrived in the afternoon and already the property had been shown several times. The owner happened to be home and greeted us at the door with a smile. Instead of leaving as most sellers do, they stayed. Being the talkative type, they were very proud of their well-maintained home and gave us the grand tour of everything and everywhere.
As the tour unfolded I noticed the owner bonding with my young couple and as we parted they were assured to be the new owners of that lovely home. Later that afternoon when I spoke to the sellers agent, she mentioned that her sellers was so impressed with my buyers that they were going to accept their offer even though they received multiple offers the very first day.
Typically buyer agents don’t often have the opportunity to get that personal with sellers, but I learned a lot from that brief encounter. I then knew my job was to personalize my buyer by creating a well written letter that I could include as the cover with each purchase offer. The letter needed to paint a living, vivid picture of each buyer in a way that would transcend the written word. The letter needed to be from the heart, connect with the sellers and express a sincere sense of excitement for owning the home.
So, I went to work creating a sample letter as a guide that I could share with my buyers. I then suggest that they write a personal letter, highlighting who they are and present it as the cover of their purchase offer package. Overnight I began seeing a difference in sellers attitudes when they received our personalized offers coming from real people. I have defined below the key elements necessary for commanding your seller’s attention when reading a home buyer’s purchase offer letter.
Dear Seller: Begin your letter with an appropriate salutation such as “hello” or “greetings”. Use the seller’s name if possible. Being polite and respectful sets the tone for a friendly beginning.
Short in length: Keep it short and sweet. Your letter should be no longer than 3 – 4 paragraphs in length. If your letter is too long you will lose the seller’s interest in a sea of words. Begin with an introductory paragraph and end with a ‘wow” paragraph summary. Leave the seller with a lasting impression of your buyers living in the home.
Use Good Grammar: This sounds elementary, but a grammatically proper letter will capture the reader’s attention just as a bad one could kill a deal by turning the seller off. Use complete sentences and try to avoid using slang or inappropriate terms. In other words, write in formal mode.
Express Your Strengths: Place yourself in a good light when speaking about yourself. What features or characteristics make you standout as a “special” individual. Are you community minded, volunteer your time, etc. A word of caution however, be sincere and humble. This is not the time to boast and beat your chest.
Pepper it with Personality: Express your true inner feelings, emotions and excitement. Your sincerity and authenticity will shine through. After all, you have nothing to lose and everything to gain.
Why You Love the Home: Try to connect emotionally and sincerely tell the seller what you love about the home and why you want to live there. Select your favorite spot in the home and expound on it. “I really love the backyard oasis and can’t wait to spend many wonderful afternoons swimming in the pool”.
Love Thy Neighborhood: Often buyers chose a home based on the neighborhood around the home. The seller loved it, so should you. This is yet another way to connect with the seller. Express that point in a few words. ” I will enjoy taking evening walks along the relaxing moonlit trails”.
Envision Yourself Living in The Home: This is an excellent element for the closing paragraph. If a young couple is purchasing, tell them how excited they will be to raise their family there and spend many wonderful years sharing good times and creating memories. The words will flow once you begin writing. This should be the emotional punch line statement that bonds the seller to the buyer so much that they yell out ” I like these buyers and want them to live in my home!”
Financially Stability: Hopefully your buyer is financially sound, so shout it out. This is where a little boasting can’t hurt. A solid career with a Fortune 500 company or a young and up-and-coming professional with a bright and promising career should help catch the seller’s eye. The seller will feel more confident when your buyer is financially secure. Also, don’t forget to include a Pre-Qualification letter with your package. This is yet another dimension of a successful acceptance.
Say Thank You: Above all, don’t forget to sincerely thank the seller for the opportunity to possibly own their home. Be positive and polite and don’t forget to sign the letter.
Any Buyer, Any Age: I have found this letter writing strategy to work with all buyers, not just any particular demographic. Personalization of your special buyer will wow the seller and clinch the deal!