Real estate isn’t always all about the money.
For some folks on the outside looking in, this frenetically paced, rapidly appreciating market may appear to be something akin to “The BIG GRAB!”
Sure! Sometimes it can feel cold and calculating as Buyers swarm on the cute, newly listed house gnashing their teeth and growling at each other and conniving elaborate strategies to WIN the impending bidding war.
On the Seller’s side of this equation, the Seller (with the guidance of a savvy REALTOR) DOES have the power to modulate all of this frenzied cacophonous energy simply by creating a well defined process with appropriate boundaries and sticking to it.
With HOT new listings in HOT areas, we frequently see: “Presenting any and all offers to Seller Sunday afternoon at 5 PM!”
There now . . . The house goes on the market Thursday Morning, thereby giving all of the Buyers ample time to view the house with their agents (4 days). This also provides enough time for Buyers to do any pre-offer due diligence.
This due diligence might include an effort on the Buyer’s part to “Humanize” themselves to the Seller such that they can construct a “friendlier” offer with terms they know will be pleasing to the seller. The idea is to learn as much about the seller’s scenario as possible:
- Who is the seller? (Google research, Facebook, Linkedin)
- Why are they moving?
- Where are they moving?
- What’s the history of the house? Is this the first time it’s been listed?
- When did the sellers buy the House?
- What do the sellers likely owe on their mortgage (From tax records)
- Where are the lot boundaries and is it in a flood plain?
- What special/unique features exist? Exotic plants/trees – Neighborhood perks
- WHEN would the seller like to move? (30 – 45 – 60 Days?)
- Would it help the Sellers to offer a few days of occupancy after closing?
When ready and excited about the House, the Buyer can then write a “Love Letter” to the seller acknowledging some of the needs of the Seller discovered during the due diligence and answering many of those same questions about the Buyer’s scenario.
“We can see that you’ve loved living the past 15 years in this beautiful house. You’ve raised your family . . . We can’t wait to take the torch and do the same with our family.”
Include this letter as the cover page for the offer.
Often, I hear of sellers accepting offers that aren’t the highest price of the bunch sometimes due to appraisal concerns but mostly as a result of some level of Buyer humanization.
This warm fuzzy kinder gentler way of selling houses lends itself to a MUCH smoother process with significantly less stress for all parties involved and is worth it’s weight in gold.
We REALTORS can set the stage for this simply by approaching every negotiation as a conductor of an orchestra . . . not a hammer in search of a nail.
Warm and fuzzy DOES have a place even in THIS market.
The Vital Few Members of Pareto Realty wake up every morning with thoughts of how we can improve the Home Buying and Selling experience for our clients and everyone else in every transaction.
It’s just how we roll 🙂