Emotionally Presenting Your Buyers’ Purchase Offer

By
Real Estate Agent with BCR (Brazosland Classic Realty)

We have all been asked. You have heard the familiar pitch.  Let me paint the scene for you– Smiling, uniformed Girl Scouts are standing at the entrance of department stores.  As you walk into the store, they ask you in their most appealing manner, “Would you like to buy some Girl Scout cookies?” Who can resist?   Because of their emotional appeal, backed by a quality product (those famous mint cookies–yum!), they successfully sell a LOT of cookies this old fashioned way.


In fact, the emotional appeal in front of a department store is how two, blue-eyed, white kittens found their way to our country home over fourteen years ago.  Smiling faces. Loveable kittens. An emotional sale.  Then PRESTO, two new fluffy beings bringing joy to hearts!

We have also heard the phrase “People buy on emotions”.  As Realtors, we know that home buying is an emotional decision.  (There are always exceptions).  People love to feel safe and comfortable. When they start placing the furniture mentally, you know you are getting close to helping them achieve their dreams. “Mr. and Mrs. Buyer, let’s go to the office to write an offer...”


But what happens when the buyers “JUST LOVE” the house and decide to make an offer less than the asking price? How do you successfully present their offer to the listing agent?   Apply the Girls Scouts approach to emotionally sell your buyers to the sellers.



I have found a thoughtful letter, introducing the buyers to the seller, does a lot to personalize and humanize your buyers.  You know their story, so why not use it to their advantage?  


If the seller knew that they are teachers, and have only have “X” dollars to spend (as is the case with current clients of mine), she just might be willing to accept an offer 7% less than the asking price AND be willing to accommodate repair requests. Turns out she is a teacher too, and  identified with them as people. She read their story in my letter.



 If the seller knew that they were a family with seven children, who need to make every penny count (as was the case with clients a while back), they just might be willing to accept an offer 5% less than the asking price AND concede to over $4,500.00 in repairs.  That family has since increased to nine children and are happy in their large country home. The sellers read their story in my letter.


As Realtors, we are charged with the responsibility to promote our clients’ best interest.  Perhaps a well written letter would influence the sellers to act favorably towards your clients. What better way to help folks realize the American dream than to document their story in a personal letter to the sellers?  Who knows, they might become friends in the process!

 

Country Kitten

Comments (11)

Nick Cameron
Keller Williams - Bellingham, WA

I like the idea of writing letters, in the out of control California market 2 years ago, I utelized them a lot, however, I have really let it trail off because, well, no excuse. I guess banks really won't read it.

 Nick

Nov 02, 2007 09:27 AM
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO

Nathan:

 

Splendid idea.  Have not tried it, but it makes sense.  Thanks. 

Nov 02, 2007 09:39 AM
Jennifer Esposito
JenRan Realty, LLC - Woodstock, CT
We used a personal appeal when we bought land several years ago.  Found out years later someone had actually offered more than us but we lucked out.
Nov 02, 2007 09:46 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
I used letters all the time when the market was HOT.  I know of a couple of buyers who did not have the highest offer but the owners wanted them to have the house because of something that was in the letter.  When I show a prospective buyer a house I look for something that the seller might have in common with the buyer.  Sometimes it was a college alumni connection, a military connection or something else but if you can make the connection it helps.
Nov 02, 2007 11:02 AM
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes
Good Blog Nathan!
Nov 03, 2007 08:27 AM
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Interesting way to negotiate a sale.....

Hmmm......

Talking to the sellers...is that ok.... did you get the letter past the listing agent, or did the listing agent approve the letter and pass it on?

I would really like to know....

=-)

Nov 03, 2007 11:45 AM
Matt Ratcliffe, REALTOR
Keller Williams Realty Brazos Valley - College Station, TX
It works everytime.  I have had clients get what they needed because of the Buyer Letter.  Tell the truth in it and the truth will get the deal done.  Thanks
Nov 04, 2007 02:12 AM
Nathan Cook
BCR (Brazosland Classic Realty) - College Station, TX

Nick: Wow! I guess the emotional part of sales would be more challenging when dealing with banks.  Since letters worked for you in the past, maybe there would be an application for them now? 

Joan:  Thanks for your comment!  Yes, feel free to try writing a letter, especially when you have a client whose story really touches you.

Jennifer:  Thanks for the testimonial.  From PERSONAL experience, you know it works!  

Cindy: Great testimonial! In fact, the family with seven children mentioned WERE one of two sets of buyers interested in that home.  "Building bridges" or "finding common ground" works wonders!

Trey: Thanks for your kind words! 

Alexander: Thanks for you interest!  I personally address the letter to the seller and write it from my perspective directly to them.  It often is the first page of the stack when I send the offer to the seller. I may include a cover letter to the agent as well, telling them I wrote a letter of introduction, and inviting them to read the letter as well.  The whole goal is to transform the buyers from black dots of ink on a white page [for sometimes names and numbers can become impersonalized] to living  humans with a story to tell. 

Matt: Yes, it works well for me. If people know the "why" [story] behind the "what" [offer], it may influence them to take an action they may not have considered before. 

 

 

Nov 05, 2007 02:41 AM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic
Just make sure th story they are trying to sell is a true one. You know all the scamming going on out there.
Nov 05, 2007 05:21 AM
Nathan Cook
BCR (Brazosland Classic Realty) - College Station, TX

Robert: Good point! Thanks for your input. 

I guess that would also go along with truly knowing your clients OR trusting those who referred them to you.  In the case of the family with seven children, we had been family friends with the man since 1991.  And the wife of the teacher couple is my aunt's best friend...but, like you say, these days...Blessings!

Nov 05, 2007 06:26 AM
Kay Perry
Kay Perry, Broker - College Station, TX
Nathan, Great blog.  You are right about the role of emotions when buyer OR selling a home.  The letter is an excellent idea.  I have not done it yet but another realtor did on one of my listings....and guess what?  It worked.  Thanks for sharing.
Nov 05, 2007 07:35 AM