A buyers' enthusiasm for a home is infectious. When they find the right home and go after it with a cheerful heart, the joy is conveyed throughout the deal. It makes it easier and smoother for all involved, buyers, sellers, and REALTORS® too.
When a home is a great match for my buyers, I encourage them to write a letter to the seller to explain who they are and why they want to purchase the home for their family. Sometimes this enthusiasm and warmth will offset the fact that their offer may be less than desirable for the seller than another offer which produces a higher net to seller.
I have had buyers beat out other buyers who had higher and better offers in multiple-offer situations, because my buyers conveyed their love for the house in a letter to the seller.
This strategy also works effectively in short sale situations. When I have been on the listing side I have recommended to my sellers to choose the buyer who is more in love with the house, since they will be more likely to stay in the deal during the long wait for the selle's lender to approve the sales contract.
Yesterday I received a contract on a home I own. It is a beautiful house with lots of amenities. I have received 3 offers in the recent past for this home. Every time before, the offers have been less than the asking price, one was even a low ball offer. And everytime, the buyers have had things to say about the house that needed updating or they intended to remodel and wanted to save money to do the updating.
This sort of negotiating does not work very well. I had emotional ties to this house just like my sellers have with their houses. It was a negative from the beginning with each of these contracts.
Yesterday, however, was completely different. The buyers actually loved my house! They wanted it very much and were dreaming of living there. The difference in their attitudes toward my house made me want to sell it to them. I came down on the price to make sure they could have it.
I have learned a negotiating tactic through my own experience. I will use this from now on. Never again will I go in to a seller or listing agent and say, "The buyers need to remodel and this is the reason for the low offer." That is starting out with a negative. Today I understand this so much better from my own experience. I never knew what a difference the buyer's attitude could make. It does!
Ricki Eichler Real Estate, your Texas Hill Country connection www.reretx.com
Kerrville, TX 78028
Debbie Solano, CRS, ABR, CDPE, CHMS, e-PRO, GRI, REOS, SRES
Coldwell Banker Select, Realtors -- Land & Ranch Division
4408 S. Harvard Avenue
Tulsa, OK 74135