Finding the house of your dreams can be bittersweet. On one hand, buying it is a major achievement, and the peace it brings is equal to none. However, losing the bid on that house can feel like your soul gets crushed.
That’s why prospective buyers often do everything they can to get that house. A buyer letter to seller is an excellent way to tip the balance in your favor. However, you need to know how to write it properly.
What exactly is a buyer letter to seller?
In competitive housing markets, which many states across the country are experiencing right now, it can be hard to find the right edge over other buyers. So many buyers are exhausted with finding a house they love, putting in an offer, only for another offer to be accepted. Clever has a great article explaining what these letters are. It’s essentially a complimentary letter for your offer directed to the seller. The goal behind it is to create a more personal connection with your seller.
So, these letters to the seller focus on triggering an emotional response. You want them to prefer you for more than your bid. The best letters can convince sellers to accept your offer, even if they have larger bids from other buyers.
Why should you care?
A buyer letter is a significant leverage if you write them correctly. You can add more weight to your offer after creating an emotional connection with a seller. Therefore, you don’t need to rely solely on your capital.
If no one uses these letters, the decision is a lot simpler for the seller. They just need to go for the highest bid. Therefore, this strategy can help you curb a significant disadvantage, especially if you’re somewhat low on funds.
The 5 keys for a good letter
Anyone can write a buyer letter to seller, but writing the perfect letter can be a challenge. You need to know which words you should use as well as which emotions you want to target.
Luckily, Investopedia has several tips you can use to craft a great letter. We’ll summarize them into the 5 main practices you want to implement.
Before diving into it, keep in mind that every seller is different. Not all of them will respond to the same triggers in the same way. It’s your responsibility to understand them and proceed accordingly.
Find something relating you and the seller together. Focus on these aspects to help them empathize with you. Universities, hometowns, and hobbies are a great start.
You want to cover all the aspects you need, but don’t make it too long. Keep the letter straight to the point. You don’t want the seller to feel bored reading it,
Don’t bring up uncomfortable topics. That includes previous lost offers. You don’t want to come off as dramatic or desperate.
Avoid generic sentences, like “I like your house.” Explain why you like it and how it fits your life goals. However, do avoid mentioning remodeling or any changes to it.
Before sending it, read everything you just wrote. You want to spot errors, sure, but your main focus should be on whether or not you’re sending the right message.