Dear Seller: A Buyer’s Love Letter
Those of us who routinely help buyers and sellers sometime forget how emotionally charged letting go of a beloved home can be. Submitting a personal, handwritten, heartfelt love letter to a seller has helped many lovelorn buyers clench the deal.
The When & Why’s of a Dear Homeowner Love Letter
A Dear Homeowner Love Letter is typically used in competitive bidding situations to distinguish a buyer from the rest of the pack. According to Redfin, a bid with a Love Letter increases a buyer’s success rate by 9%. It’s also an effective tool when accompanying an offer that’s below the asking price. Rather than “The comps don’t support a higher offer,” it’s much better to say, ”We’re stretching because this will be our ‘home’ and we’ve connected with it.”
Additionally, a letter may help a seller judge whether a buyer will be a good long-term partner. Accepting an offer is just one step in the transaction, but what about working through the complexities and drama of the sale? What will due diligence, inspections and contract negotiations be like? A letter gives a glimpse into the buyer’s personality, smoothing out some of the unknowns.
The What’s of a Love Letter
Done well, a good letter paints a vivid picture, connects with the seller and expresses a sincere sense of excitement about owning the home. In short, the Love Letter humanizes an offer. Incorporate many of these tips, using common sense as the best guide:
• Keep it short and sweet. Three or four paragraphs, tops. Any longer, and you lose a seller’s interest in a sea of words: yadda yadda yadda.
• Use proper grammar. Keep it on the formal side. Avoid slang. Put your best foot forward to create a lasting positive impression.
• Begin with an appropriate salutation. Use the seller’s name to personalize the letter. A polite and respectful beginning sets the proper tone.
• Introduce yourself. Sellers are naturally curious about buyers are and why they’re interested in their home. Give details that may sway odds in your favor: connections to the community, family particulars, interesting coincidences.
• Focus on positives. Note the home’s best assets, why you love them and how you appreciate its uniqueness. That also means: avoid mentioning ripping out the kitchen, tearing out the bath, or telling sad sack lost-half-a-dozen-other-competitive-bidding stories.
• Be honest and authentic. Express your true inner feelings, emotions and excitement, but communicate truths. It’s bad karma to stretch the truth or lie, and even worse to get busted.
• Demonstrate stability. Explain that there will be no problem closing the purchase. Ease a seller’s fears about the uncertainties of a transaction.
• Show humility. “We would be honored to live in your home” vs. “We’re hopeful, yet confident, that you’ll accept our generous offer.”
• Be nice, not creepy. A letter should be attractive, not desperate or creepy. Imagine: a pregnant couple once offered to name their baby after the seller. (You can’t make this stuff up!) Furthermore, although it’s a Love Letter, sign it “Sincerely” or “Truly,” but never “Love”.
The Where’s of a Love Letter
As in, where is it? Writing a letter doesn’t guarantee delivery. Some listing agents might feel that a Dear Homeowner Letter could complicate things and may not want to have it submitted. To ensure delivery, include a written stipulation that the letter be presented or have it included as part of the written offer in PDF form.
They Love Me…They Love Me Not….
Money talks, but money being equal, people want to do business with those they like and trust. Sellers are likely to choose buyers they’re comfortable with and can relate to. A seller who has loved a home and cared for it for many years can feel better, knowing the home will be in good hands.
But sometimes, even the best-written and most heartfelt letters don’t work. A seller and a listing agent who are totally focused on the bottom line are unlikely to care one iota about a Love Letter. Some sellers may even view a Love Letter as a sign of weakness.
What to do? Nothing ventured, nothing gained. No harm. No foul. Take the chance. Write your letter. Declare your love for that home.
Michael Shapot is a broker at Keller Williams Realty