Several years ago, when homes sometimes sold within hours, prospective buyers often drafted “Dear Seller” letters, an accompanying personal note to help purchase offers stand out in a multiple-bid situation.
Today, some buyers are writing a different kind of letter to win a seller’s favor — a letter explaining why the buyer’s offer is so far below the seller’s asking price.
You can’t blame buyers for trying to explain themselves, but after reading this tongue-in-cheek piece from The New York Times, it’s clear that real estate negotiations between a buyer and a seller are simply a matter of perspective.
Whereas a buyer may use Fear to get his price, a seller may counter with Hope.
The article drafts a buyer letter and a suggested seller response. Both letters are powerful and persuasive, and hint at the real truth in real estate — that reaching a purchase price agreement is only as difficult as finding a buyer and a seller committed to working together.
And that match happens every day in every city in America — even the ones in which the housing market is reeling the most.
It’s been said that a listing price is just a starting point for conversation, but if that conversation starts with “Dear Seller” and the seller is feeling hopeful, don’t be surprised if you get a Dear John in response.