Special offer

How to stand out among multiple offers --- write a personal letter!

By
Real Estate Agent with Alain Pinel BRE 01367196

How to stand out in a sea of multiple offers

When multiple offers are similar in price, terms and conditions, it would be challenging for the Seller to choose which offer to accept.


Don’t underestimate the power of a personal letterletter writing

For my most recent short sale listing, we knew we’d receive multiple offers.


And when everyone looks alike, someone needs to stand out.


Based on prior multiple offer situations, I asked the agents to submit their best and highest offer because the Seller may not do multiple counter offers. I also asked them to include a personal letter from their buyers because it may boil down to whom the Seller likes to work with.

 

Surprisingly, among seven offers, only two submitted personal letters.


One offer stood out.  

It included a heart felt personal letter from the buyer to the seller, in which she introduced herself. It helped that she was in the same profession as the seller. Best of all, she included pictures of herself on the deck of the seller's house along with members of her family whom took along when she viewed the property, plus pictures of her dog and cat cudding together. The seller also has a dog and cats, so this was a plus.


That personal touch clinched the deal.

Needless to say, this Buyer got the deal


Wait...there’s more!


It helped that her agent was also a seasoned short sale agent who guided her buyer to write that the Buyer will:

  • Wait 90 days instead of the standard 45 days for short sale approval
  • Contribute a certain amount towards lien payoff
  • Open escrow upon acceptance and prior to receipt of short sale approval


Sell yourself!

When submitting an offer, consider it an interview. After all, you’re asking the seller why he should choose  you and your buyer!


During the peak of the market, it became a standard practice to include personal letters/appeals from the buyers. Now that the m

Comments (9)

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Well, I just sent one today.....to an REO agent from Homepath. I still don't understand who makes a final decision: an asset manager or a listing agent.....Do you think it work with REO?.....I doubt...but....I try:)

Sep 10, 2012 05:41 PM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Inna --- I don't know about the REO. But it sure has worked wonders for me on other sales. On the buyer's side, in a particularly challenging situation, I also won in multiple offer situations when I included a personal letter from the buyer and personal appeal from me. The listing agent said the sellers were very touched by the personal effort, and they felt my buyers and I were sincere and heartfelt.

And on the sellers side, I can attest to the appeal of a personal letter. Twice in less than week, the decisions went in one direction because of the personal touch.

Sep 10, 2012 05:48 PM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Good morning Pacita - we have our buyers write personal letters all the time and it definitely makes a difference! 

Sep 10, 2012 08:37 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

A personal letter has never crossed my mind.  Thanks for the thought Pacita.  Have a great day in all you do.

Sep 11, 2012 12:41 AM
John M. Scott
BRE # 01442690, Scott Keys Properties - San Francisco, CA
Broker / Owner San Francisco Bay Area

How right you are Pacita. You got to stand out or you won't be noticed. My client just had an offer accepted because she stressed how important the location was for them. Grandma wanted to be near the local curch so she could ride her motorized chair there, and the son could walk to school there. 

Sep 11, 2012 02:59 AM
Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

 

Read an article in the New York Times a few months ago  about the same subject, it appears that  the idea of personal letters seems to get the offers accepted. 

Sep 11, 2012 02:59 AM
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

In our current market buyers need any advantage that they can get.  

Sep 11, 2012 03:09 AM
Antonio M. Cardenas Broker Associate
RE eBroker Group - San Leandro, CA. - San Leandro, CA
"The Realtors In Motion"

Very good point Pacita, as a listing agent, I have seen letters written by the buyers, the important thing is to remember that the offer must be a darn good one! If you are not competing with the highest offers, your letter won't have any effect. Thanks Pacita!

Antonio

PS: There is a Batmobile being built at home for Halloween!

Sep 12, 2012 02:43 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Wayne and Jean --- when all offers look the same, assuming they're all clean and competitive, we have to go the extra mile. Good that you make this a practice.

John M -- at the height of the market, it was absolutely necessary to include that personal and direct appeal to the sellers

John S -- that kind of emotional appeal especially works when the sellers love their home and hate to leave. They are looking for someone who will love the home just as much.

Michelle -- when we are competing in a multi-offer situation, we need to bring our game.

Jim --- you're absolutely right

Antonio -- when all offers are tight and clean, we need to go the extra mle. Can't wait to see your next production for halloween

 

Sep 12, 2012 02:55 AM