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!