In a competitive real estate market where the inventory is limited can a buyer benefit from writing a personal letter to the seller? My best answer is “it can’t hurt and most likely will help.”
In a hot real estate market it is highly unlikely sellers are willing to leave money on the table, sellers always want to get the highest dollar amount possible. The reality is, a weak offer usually doesn’t stand a chance of being accepted in a hot market even if it is accompanied with a buyer’s letter. When it comes time to buy or sell a home, as a local Realtor in the business I know firsthand the real estate transaction is both emotional and financial.
So, what happens when a seller receives several similar offers, will a personal letter from one of the buyers help seal the deal? You bet it can! Potential buyers that find themselves alongside several other potential buyers, writing a personal letter to go along with an offer can help, especially if the letter is well thought out and written well.
Most of the time the seller is curious about who is going to buy their home, and a potential buyer can use this to their advantage. When there are multiple offers being presented to the seller, the seller likes seeing additional information about the buyer.
At the end of the day, a potential buyer greatly increases their chances to seal the deal when a seller hears how much they love the home and they’re willing to do whatever it takes to buy their home. So, for those finding themselves in a hot real estate market bidding against other potential buyers with similar offers, adding personal touch can definitely increase their chances of winning the bid by having a well written letter accompany their offer.