Buyer Personal Letter Tips

Buyer Personal Letter Tips

If you haven’t already heard demand for homes is through the roof in some markets and price points that many buyers are trying to find new ways to set themselves apart.  One way to do that is by writing a personal letter from the buyer to the seller to help put a face behind the offer.  I want to give you some tips to take in to consideration if you decide to prepare a letter yourself.

So what exactly is this personal letter?  The letter is basically a brief letter introducing the buyer & expressing to the seller why they really like the home and would really appreciate it if their offer was chosen.  The intention is to put a face behind an offer which otherwise would just be another offer in a stack of offers.

First realize these letters can be effective so please be sure to take your time drafting this letter.  If you were the seller what would you want to hear?  Maybe you will be living at the home as opposed to turning around and using it as a rental property, that would make the seller feel better about the future of the home and even neighborhood.

Second be sure to make it personal, not only about you but also the home.  Maybe start by describing your family and why this home really fits your needs.  Is it the neighborhood or the layout, maybe you have a personal connection.  Don’t be afraid to open up and make it personal as this is very effective.

Also be specific to a particular property, don’t draft one letter and use it on all offers.  You should mention the layout, colors, upgrades in the kitchen, the big tree in the back yard, or anything that is specific to that home.  The reason is to point out a positive feature and how you plan to enjoy it and appreciate it but also to not sound so generic either.  If you sound too generic it can really take away from it being personal and remember after all this is a personal letter.

Keep in mind these letters don’t always work but I find the majority of the time it does make a difference.  There are still those sellers which at the end of the day is all about the bottom line regardless of who buys it and what they love about it.  That should distract you from not trying it, you will be more successful trying this method than if you didn’t.

With a heart of a teacher I look to educate my clients about the process of buying, selling or renting real estate.  I strongly feel an informed and educated consumer will make better decisions and be less likely to be taken advantage of.

Have questions about this or other topics, don not hesitate to contact me.

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Luis Cuevas, Realtor®

RE/MAX Cross Country

1990 Justin Road

Highland Village, Texas 75077

(214) 783-0535

Luis@MakeNorthTexasHome.com

Check out my website for more helpful tips:

http://MakeNorthTexasHome.com

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What is a CMA? - Luis Cuevas Realtor® RE/MAX Cross Country

A CMA is a Comparative Market Analysis used by real estate agents to help with deciding on a sales price for a property they will be listing or maybe come up with a reasonable offer on a property to purchase.

The CMA is used to figure out where the market is in comparison to the home being evaluated.  Let’s say you are buying and viewed a home you are interested in making an offer.  A CMA would serve as a way to check comparable sales data of similar properties to make an educated offer.  The same goes for a seller, it would be used to figure out where their property stands in regards to the market and determine an asking or listing price.

A CMA, Comparative Market Analysis, isn’t as simple as just plugging in some numbers and see what pops up, you really have to know what data your after and how to interpret it.  Let’s take a look at a few keys items when going through the data.

1. Know your subject property - If your a seller know the data on your home such as square feet, number of rooms, amenities, year built, upgrades, etc.  It is important to be clear on your home as the subject, as this will be the base subject and will be compared to other similar properties.
2. Find Comparable Properties - This is key to zeroing in on your goal of knowing where the home should be priced.  Comparable properties should be similar in size, construction type, near the subject, year built, number of stories, etc… the closer the better for comparison.
3. Make Adjustments - Not all data will be exactly like the subject property, some adjustments will need to be made.  Maybe one house has one more half bath, extra garage, carport, covered patio or maybe is an exterior lot facing a busy street instead of an interior lot on a cul-de-sac.  A Realtor® can really prove to be valuable when it comes to interpreting this data.

At the end of the process you should have a good understanding of the the market, which is represented by similar homes that have sold.  This data should give you an idea of where the subject property stands in the market and therefor help when coming up with a sales price.

Now let’s be clear, this is not an alternative to an actual appraisal.  Notice the word “value” or “worth” was not used in the description, the reason is clear… Realtors® are not appraisers and can not determine “worth,” “value,” or “opinion of value.”  While a Realtor® will have the same access to the data as an appraiser, a Realtor® is not a licensed appraiser.  Keep this in mind because there are a ton of gimmicks out there leading you to believe that they can determine your properties value or worth, which is not allowed and they are not in a position to do this.  It would be like a cashier diagnosing you with a disease when in reality they are not a doctor.

A CMA, comparative market analysis, is a helpful tool I as a Realtor® use to help guide my clients to decide on a list price or what type of offer to make.  It is using real data, not estimates, but actual data from similar properties.  This is a tremendous tool I offer you so you are more in line with your pricing and in line with the market.  So next time you hear the acronym CMA thrown around you can know a little bit more about it.

Again I hope this was of value and maybe you picked up a tip or two.  My goal is always to be a resource and educate my clients so they can make informed & educated decisions.

Have questions about this or other topics, don’t hesitate to contact me.

Luis Cuevas, Realtor®

RE/MAX Cross Country

1990 Justin Road

Highland Village, Texas 75077

(214) 783-0535

Luis@MakeNorthTexasHome.com

Check out my website for more helpful tips:

http://MakeNorthTexasHome.com

Subscribe to my YouTube Channel:

http://Youtube.com/MakeNorthTexasHome

Follow me on Facebook:

http://Facebook.com/MakeNorthTexasHome