Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Oh, yeah. When we (the heirs) sold an elderly relative's house last year in an extremely competitive market, one of the bidders wrote a long emotional letter about starting a family there, how much this chance meant to them, etc. It was definitely TMI. They got the house, but because theirs was by far the best offer, but it's kind of discouraging to think that they (and their agent?) will go through life believing it was because of the sappy letter.
That said, if I ever have to sell my place in the country, someone who would convince me that they love the resident livestock and will care for them MIGHT beat out a slightly better offer. I guess you just have to know what motivates the seller -- an agent who can figure that out is worth the commission!
We've done one before as a buyer and it certainly helped. We made a simple and compelling case about why we liked the place (nearby park, and grew up down the street). We didn't fawn over everything.
Ultimately it may be a business transaction, but how many business deals out there do you think have been swayed/influenced by other components, or is it always only about the money?
I've only purchased a new build here in NC, so I can't compare.
But in all 3 purchases and sales I did in AZ, it was always counter offer in writing. Verbal negotiations were a no-no. (And yes, I used several different agents, and obviously dealt with various agents on the other side.)
Yeah, we negotiate by phone, email, text, and somehow we convey a ton of real estate.
We never actually do "counteroffers," and are advised to avoid using the term. A counteroffer, signed by the other party becomes a binding contract.
We hammer out terms, and draft a document that represents the meeting of the minds expressed. Get signatures, and we have the contract. From time to time, there is an error or misunderstanding, and the document has to be revised before signatures are given. But, generally, the system works very well.
I can do multiple back-and-forths on the phone faster than the fastest agents can produce a signed counter offer. If I demanded signed counter offers, the house would go to the first person who was ready to step up and do business within local customs.
My point however, was about faux "business" people who disregard the playing cards in a letter because they are emotional about emotions.
"Emotion" is just "instinctive or intuitive feeling as distinguished from reasoning or knowledge" according to the Oxford English Dictionary. That is exactly the basis of action from "business" people who don't take care of business.
"Making pancakes for my daughter," maybe before she walks to school? And, enrollment ends in 5 weeks sop she may have to take the bus to the next school?
"Love the first floor master suite, because the stairs are too much trouble?" And maybe there aren't very many first floor masters like the subject house?
Emotion: instinctively throwing away letters with that information, eschewing reason and knowledge to do business. "WoooHooo! I'm strictly business, no matter how much it costs me!"
I recently sold in my HOT HOT market. Multiple offers with the top 2 less than $1000 apart. Top offer was from investors, lower offer was from a couple that ran a local business and sent a very nice letter. I went with the lower offer. Really enjoyed my time in that community and hoped they would too while continuing to contribute to the local area. Guess I'm just an old softy.
I have two houses to sell: One this year ($850k) and the other in a couple of years ($2 million-plus). Try something truly innovative and you might get my attention. We don't *have* to sell either one.
We got a "love letter" when we were selling our house. It did nothing but irritate me. Selling a house is a business transaction. Period. I don't give a rat's behind about your childhood or whatever. If you love the house that much, offer me more money. Last I checked, I can't cash a love letter.
My friend is selling her house and was telling me how moved she was by a letter a prospective buyer sent her. The letter mentioned things about how the buyer loved the house's decor, how she looks forward to making pancakes for her kids in the kitchen, and the neighbors that she met were so very nice. My friend was downright weepy over this "lovely" letter.
This strikes me as blatant tugging the seller's heart strings and would turn me off the buyer. But perusing the web, I guess real estate "love letters" are the going thing now. Comments?
I got that once. Along with pics. I appreciated the effort, and that they were so interested as to do that, but I thought it was odd, to be frank. I don't really care who the people are or why they want my house. I figured their agent told them to do that.
I recently sold in my HOT HOT market. Multiple offers with the top 2 less than $1000 apart. Top offer was from investors, lower offer was from a couple that ran a local business and sent a very nice letter. I went with the lower offer. Really enjoyed my time in that community and hoped they would too while continuing to contribute to the local area. Guess I'm just an old softy.
I think that means you didn't "need" the money? You would've liked it, but didn't absolutely need it to buy your new home.
I got that once. Along with pics. I appreciated the effort, and that they were so interested as to do that, but I thought it was odd, to be frank. I don't really care who the people are or why they want my house. I figured their agent told them to do that.
It's all about the money and such, isn't it?
That is a common oversimplification many sellers employ for self-abuse.
It is all about terms and price. Always.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
