Love Your House Letters to the SellerJune 10, 2017
It’s becoming more and more popular to accompany a Boston luxury home offer with a letter to the seller. The content generally includes how much you and/or your family love the Boston luxury real estate property. It works in some cases and not in others.
I’ve got news for you, in 99% of cases, sellers look at the bottom line which is the price and the terms. As for the rest, you’re honestly wasting your time. It’s extremely rare that a Boston luxury home seller has lived there so long and is so emotionally attached to their property that they are looking for only one type of buyer who will use the property as is and that they feel is “right.” Boston luxury real estate buyers are really looking for the right price and reasonable terms.
Many Boston luxury real estate agents advise their buyers to write a heart wrenching story about themselves and how much they love the property. If the offer is very close to another competing offer, you may have shot. And it also depends on the price range.
Offers on properties in multi-million-dollar price ranges are rarely (or I dare say, never) accompanied by such letters, unless it’s an older home in the suburbs. We see such letters more in lower price ranges from buyers who are not cash buyers and may have more terms and conditions in their offer, thinking that a nice letter will touch the seller’s emotional chord.
It sometimes works, but don’t count on it. Work on the price, terms and conditions before fortifying with a letter. Also, in order to score, make sure that the letter is well drafted and to the point. Everyone is short on time, so brevity is critical.