WRITE A LETTER, WIN A HOUSE!

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

I see a pattern emerging and in this competitive market, buyers and their agents should be paying attention!

We are in a crazily busy market.   Simply put: too many buyers, not enough homes.  So, how can a buyer make themselves stand out among 5-15 offers?  Write a letter!

I represented a buyer on a million dollar home.  We were one of 4 offers.  I asked my buyer to write a letter telling the seller about themselves and why they wanted to purchase their home.  It wasn't the great American novel, but it was heartfelt.  Imagine my joy (and my buyers, of course), when we got a call saying we got the house.  The listing agent shared with me that we were not the highest offer, but that the sellers wanted someone that the neighbors would love and that would appreciate their home.  The letter told them what my buyers were all about.   Imagine...the sellers took a hit just to have the buyer that they wanted.

I have a listing that received 15 offers.  I sent my seller a suggested counter for each offer (they were all over asking, so we felt obligated to respond), a "before" net sheet and an "after" net sheet and, if a letter was included, the letter.  I suggested she accept the all cash, over asking, 10 day close offer.  Imaging my surprise when she let me know she was going a completely different direction!  She was more concerned that the purchaser be someone that would love her family home and would be there long term.  She selected a family who had written a letter letting her know how much they loved her home.  She selected another offer as a back up that was a family as well that she had received details about.  She wanted an owner occupant that would enjoy her family home long term, so she took a $2000 hit to do it.

I am convinced....in competition? Write a letter!

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Rainmaker
1,676,318
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Does anyone know why and how we have too many buyers and not enough homes. Didn't we over build for like seven years straight?

Jul 28, 2012 01:44 PM #1
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Winston~
Unprecedented interest rates, investor buyers taking advantage of great buys in foreclosures and the certainty of the market before the elections...that's my 2 cents.  Oh...and a lot of seller who simply can't afford to sell.
Paula Swayne

Jul 28, 2012 02:01 PM #2
Rainmaker
1,777,886
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

I never thought that a letter could be the turning point in the negotiations Paula. 

Jul 28, 2012 05:34 PM #3
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Tom~

I have been in this business 17 years, and I am still learning!

Jul 29, 2012 09:28 AM #4
Rainmaker
519,225
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Excellent advice for you to have your buyer write a personal letter to the seller - especially in this crazy market like ours here at Orange County CA - where all nice homes priced correctly are getting multiple offers.

Aug 28, 2012 05:37 AM #5
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Rainmaker
262,692

Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga
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