08 Apr Pulling at the Heartstrings of Sellers is New Buyer Tactic
Inventory levels continue to be a challenge throughout the real estate market, and many buyers are employing a new tactic when it comes to getting the attention of sellers: pulling at their heartstrings. As competition heats up during the busy spring and summer periods, buyers are finding it increasingly difficult to stand out in a sea of interested people. Prices are on the rise, but that is the least of buyer’s concerns. The real issue is how to get a seller’s attention.
Incidentally, many buyers are writing heartfelt letters to sellers describing why their home is the perfect one. Their hope is that it will make the decision easier for sellers, and this particular method seems to work well for buyers with children who are purchasing from sellers in the same boat. From personal photos to tokens of appreciation that appeal to the seller, buyers don’t seem to have any shame when it comes to pitching their situation.
In fact, one seller commented on how he received a letter explaining how his home’s spacious layout would be perfect given the imminent arrival of the buyers’ first child. The father of a toddler adds, “I felt very comfortable with these people. I really wanted this place to go to somebody in a similar situation.”
But this is just the latest sign that the real estate market is finally on stable footing once again. Love letters, as they’re commonly referred to, were commonplace during the pre-recession real estate boom. The trouble is that money just doesn’t talk in all markets anymore since most buyers are on a level playing field with one another when it comes to financing. It’s a traditional supply and demand scenario, and as home prices continue to rise, sellers can expect to see even more of these boom era tactics showing up in their mailboxes and taped to their front doors.