Write a perfect offer letter
Every REALTOR® finds themselves regularly duking it out with other agents to get their buyer the house of their dreams.
It’s how REALTORS® deal with that competition that makes or breaks them.
It’s a simple equation:
Buyer gets the house = Buyer is happy = Buyer refers you = More buyers = More commissions
Increasing the monetary value of your buyer’s offer isn’t always possible. Does that mean they’re automatically out of the running? No way.
This is where the offer letter comes in.
Offer letters make the case for why your buyer is the right buyer for the house in question. Well-written offer letters do this without begging and without being aggressive.
Knowing how to craft a convincing offer letter can help you win properties that might’ve seemed out of reach.
So today we’re giving you all the tools and tips you need to write a perfect house offer letter that will help you close more deals.
1. Use Your Buyer’s Voice
Before we go any further, let’s clear one thing up: this letter isn’t coming from you. It’s coming from your buyers.
You’re simply the ghost writer.
You’ll be using their thoughts and feelings to ghost-write it (or to write it together), but it will be from them to the seller.
2. Do Your Research
Before you start writing, do a little digging to find out more about the sellers and about the other offers on the table.
You might just uncover a nugget of information that you can tap into. Here are a couple of examples.
a.) The seller is leaving the town/neighbourhood after a significant number of years
From poking around, you discover that the owner has lived in the town for 60 years and is now leaving to be closer to her children. You assume, probably safely, that leaving is emotional.
Think about what it is about your buyers that might be comforting to this seller. Maybe they’re pregnant for the first time and are looking forward to making this their family home. Maybe they’ve also lived in the same town for a long time and love it as much as the seller does.
b.) A developer wants to buy the property and tear it down
It’s unlikely that your buyer can compete with the money offered by a developer. But maybe you hear through the grapevine that the sellers are dreading the thought of their home being bulldozed. That’s a great opportunity to talk about why your buyers want to live in the house as it stands, not make room for something different.
3. Be Observant
When you’re seeing a property for the first time, pay special attention to what certain features might communicate about the seller.
Hockey equipment, a dog water bowl or a spectacular garden, for instance, can indicate information. Perhaps a hockey player in the family, a beloved pet or a green thumb.
These are all details that you might be able to use to draw connections between your buyers and the seller.
Maybe your buyers are dog lovers, or have kids who just started playing hockey, or are gardening fanatics.
These sorts of commonalities can make a seller feel an affinity to a buyer, and comforted that they’re leaving their home to someone who might enjoy it in the same way.
4. Get Personal
How personal your offer letter gets will depend on the comfort level of your buyers, but sharing intimate details can help convince a seller that your buyer deserves the house.
• Your buyers want to live in an area because it’s very close to their jobs and after a health scare last year, spending more time with family is important
• Your buyers are looking for a bungalow because they’re moving an elderly parent into their home and stairs will pose a problem
• Your buyers grew up in the area and want to raise their own family there
It’s important to be tasteful here. You don’t want the seller to think that you’re trying to curry favour with a sob story or that your reasons for wanting the house are a stretch. Be sincere.
5. Be (Genuinely) Complimentary
Who doesn’t like to be flattered? Without being a brown-noser, share what it is that your buyer loves about the home.
The seller knows your buyer wants the house — now tell them why.
Talk about your buyer’s love of the sunken living room and cozy study, as well as smaller details like a farmhouse sink or how a window seat looks like the perfect reading nook.
6. Make It Look Nice
The seller will see the letter before they read it. Make yours stand out!
• Add a flattering, friendly-looking photo of your buyers.
• Use a clean, modern font and headings to improve the readability of the text.
• If the seller is a dog lover and the letter mentions dogs, include a photo of your buyers’ own pup.
• Proofread it at least twice to make sure it’s error-free.
• Consider using bulleted lists for reasons why you love the house or neighbourhood.
7. Give A Hard Copy
An email is much easier to lose track of than a printed or handwritten letter. Print a copy of the letter or handwrite it and give it to the seller (or their agent) for maximum impact.
Your timing is important.
Even if you expect your buyers will want the house, don’t prepare the letter in advance of your buyers seeing the property (using the info you already have) and leave it at the open house.
This tells the seller that your offer letter is simply a ploy to close the deal, and that the contents of your letter aren’t all that genuine.
Do move quickly after your buyer sees the property and wants it, but let enough time pass (even a few hours) before submitting the letter so that the seller knows you’re sincere.
Oh, and one last thing: once you close the deal (and we’re sure you would!), remember to also wrap everything up nicely with a closing gift!