The Dreaded Dear Mr Seller Letter
If you are selling your home in today’s hot real estate market, would a Dear Mr. Seller letter help you choose one offer over another? That’s a great question. Negotiating the highest price is usually the order of the day.
Typically, when presented with more than one offer, you would choose the one that nets you the most money. But in today’s crazy real estate market, there are other factors that sometimes come into play – especially if there are two identical offers.
For example, I wrote an offer on a fixer upper ranch in a sought after, well established neighborhood. My buyers offered more than $15,000 over asking price and didn’t get the house. The listing agent told me they had 2 offers that were the same and the seller went with the young family. The young family? What did that mean other than apparently our competition wrote a letter and included a photo to play up to the seller’s emotions.
What letter could my retired buyers have written to compete with a young family?
With 2 identical offers, how do you choose? Would a Dear Mr. Seller Letter entice you to choose one offer over the other?
What’s a Dear Mr. Seller Letter?
Typically, as a buyer’s agent, I don’t know much about you when I write an offer on your house. First of all, it’s hard to even get the listing agent on the phone. Sometimes the buyer wants to know about the seller and why they are moving.
But depending on the circumstances, would you tend to be swayed if the buyers wrote you an emotional letter? Some agents use it to their advantage but it can also backfire. What if the buyers said something that you took the wrong way or it offended you? Would you look at that offer differently?
A typical Dear Mr. Seller Letter would
- Make an emotional statement about how much they love your house
- Talk about seeing themselves (and their growing family) living there
- Reflect on how much better their lives would be living in such a well loved home
- Share how they’re so stressed out with making offers on houses they don’t get and
- Indicate they could soon be homeless if they don’t find a house
And on and on. You get the point. Some agents will go so far as to include a photo of the buyers to include with the offer. As a listing agent, I’ve received letters like this and oftentimes my sellers felt it was a bit over the top and chose another offer instead. After all, this is a business transaction and there are many more negotiations to get through.
As a seller, do you care who buys your house? As a buyer, do you really care about the people that live there? Maybe, but in our local market, typically the sellers and buyers will never see or meet each other. One wrong move by either party could put an end to the transaction.
Is the lack of inventory in the current real estate market suggesting I need to have a Dear Mr. Seller Letter template? Can my buyers fill in the blanks so we’ll be ready when they find the perfect house and we’re short on time?
Good question. If you were a seller, what would convince you to take one offer over the other? What are your thoughts?
If you’re thinking of selling in the next few months, I’d love to help. Call me at (913) 515-3250 or contact me here for a FREE walk through of what you need to do to get your home ready for the market.
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Today’s New Listings – Homes for Sale in Overland Park
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See all Real estate in the city of Overland Park.
(all data current as of 8/20/2018)
Listing information deemed reliable but not guaranteed. Read full disclaimer.