Tips on Writing an Effective Offer Letter
As the song goes, “the roof, the roof, the roof is on fire!” But – in present day – it’s not just the roof – the entire housing market is smoking hot. If you’re selling, this is great – it’s the perfect time to make the most of your investment. Yet, it’s not as ideal for buyers. In fact, it’s not ideal at all.
Some markets are so competitive that people are forced to buy in cash. Others must be willing to offer more than the asking price. And, even then, that might not be enough. Sometimes, a personal touch is required. And this comes in the form of an offer letter.
So, how do you pen something that speaks to the heart of the seller? Honesty and sincerity are important, and so is the following:
Be open about why you like the house
People bond to their homes and often have a hard time leaving them in the hands of another. A letter that describes why you like the house helps them feel more secure about handing you the keys. Be open and detailed – remember, flattery will sometimes get you everywhere.
Leave a hard copy
According to Redfin, most realtors recommend that you leave a hard copy of your letter during a showing (or give it to your realtor to deliver). Sure, email is more convenient, but it’s also likely to end up in the spam folder….a place most people never look.
Find a connection
Relationships are about connection, and that’s true for the relationship between seller and buyer. Use your letter to make this connection. If the seller has dogs and you do, too, mention how Rex will love the size of the backyard or the cabinet in the laundry room that’s perfect for dog treats. A personal connection may be the one thing that sets you apart from other interested parties.
Know a low offer doesn’t always take you out of the game
Many people assume that homeowners sell to the highest bidder, and that’s certainly the case a lot of the time. But not every time. Some homeowners are interested in more than the bottom line. Use this to your advantage and explain your offer in your letter. Per Trulia, you should always do this if it’s low.
The majority of the offer letters submitted will have much of the above, but if you want your letter to stand out, you might have to venture outside the box. This doesn’t mean you need to stray too far – composing an ode to the oven light – but do something that makes your letter look different from the rest.
Offer letters are necessities in hot markets. Fortunately, you don’t have to be Hemingway to write an effective one. Following these tips can mean the difference between an offer that’s denied and one warmly accepted.
If you’re moving to Seattle and the surrounding areas, get in touch with us. We’ll provide tips on the entire process, from the offer to the closing.