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How a "letter" saved the day!

I've just spent the better part of this evening off and on the phone negotiating a deal.

Funny thing, that even in this market this house happened to get two offers on the same day. Well, not funny for the buyers affected, and certainly not funny for us agents ~ just "funny" like ironic that after being on the market for as long as it had been, two offers come in on the same day.

It turns out that the sellers, after mulling things over and all-night long conversations between the other agent and myself, have decided to go with my buyer's offer with just a few minor changes.

What was the clincher? They seemed to "like" my buyers better, for one. Woohoo! I have to admit, I like my buyers too (that certainly helps!)

But even in this "buyers" market, it's important to keep in mind that sellers are going through an emotional time and many would like to feel some sort of connection with the buyers who are purchasing their "home". Not every seller is "desperate" and the fact that they can choose from two offers certainly puts them in an enviable position compared to so many other sellers in this market.

The letter i sent along with our offer helped. It told a bit about the buyers, what they loved about the home, what had drawn them to that area, and their future dreams of starting their own lives in the home.

It put a face to the black-and-white pre-printed agreement of sale.

It put a meaning behind the terms we were asking for.

And it is putting a ratified contract in my hand.

Who can ask for more than that with just a simple letter?!

I send a letter about the buyers along with each and every offer I make ~ sometimes it's handwritten, sometimes it's typed. I have found, on more than one occassion, that it helps to seal the deal even if my buyer's offer is not the best one on the table.

Many times, it's the only offer with a "face" attached to it.

Who knew one day that my bad penmanship would come in so handy!

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Jeannie Kontis, RealtorⓇ, is a member of the award-winning Bob Wells Realty Group of Long & Foster Real Estate, Inc, and serves buyers and sellers of real estate throughout Lancaster County.

All content Copyright ⓒ 2008 Jeannie Kontis Homes in Lancaster PA - Real Estate in Lancaster County

Posted by Jeannie Kontis, Lancaster PA Real Estate & Lancaster County Homes for Sale on 12/08/2008 11:35 PM

Comments (7)

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Originally posted at: Lancaster PA Real Estate Blog: How a "letter" saved the day!

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7 Comments on How a "letter" saved the day!

DEC

You are so right about the importance of a good letter. We discussed this in our coaching class today.

I have heard of buyers doing this in order to establish a more personal relationship with the home and the sellers. This was much more common a few years ago when a listing would receive multiple offers within hours of it going on the market, but I can still see the relevance even in todays market.

Vicky ~ Although it won't have impact on a bank-owned property, it's important to remember that there are seller-occupied homes stuck in this market. A letter can surely still go a long way into helping to bridge the gap between a buyer and the seller.

Troy ~ Exactly, it is still relavant in today's market where the seller occupies the property. They are already taking a hit, so it's important to help keep emotions in check and help smooth out what could be a rocky relationship.

DEC

I did that once as a buyer when I was bidding on a home I really loved but it was over priced, they did bring the price down quite a bit, but it was still too expensive. What a great idea to do as an agent.

Lauren, it works just about every time. Just don't do it when we have competing buyers, okay!

DEC

That's a great idea that works wonders. By the way, have you ever tried a testimonial from the buyer about why they really want the house? You know, little Sally really loves (her) bedroom, and the fenced back yard will give me the peace of mind that the kids are o.k.

It comes in handy on a property with multiple offers.

I'd wish you luck, but it appears you have your head on straight, so I'd like to tell the other Realtors in Lancaster to watch out!

Larry - I have done letters from the buyers, but I have also done letters from the Sellers about what they loved (and still love!) about their house. I think it's important for sellers to share things that they have come to take for granted, like how the sunset from the back porch every summer evening is a bonus, or how the breeze blows just the right amount every afternoon through the front porch. Things that you would never know unless you lived there. I think this might be my next post! LOL

And, thank you for the compliment ~ I really appreciate it!

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