Cover letters are one example of how to put buyer offers above the competition, and looking at how tight inventory is in today’s market, buyers could use any extra help they can get.
According to a recent Redfin report, the number one way buyers are standing out against the competition is through cover letters, with 43% of winning offers using them in March, up 35% from last year.
In his third point, he went in depth on what a letter should look like.
Letter to the seller:
A letter to the seller does help, but it has to be done a certain way. The point of the letter to the seller is to make your clients come alive. You want your buyers to be more than just a number on a paper. When touring a property, find certain things that your buyer and the seller have common, such as water skiing, camping, local sports teams etc. When writing the letter to the seller, include that in there. People do business with other people that are just like them, so it’s important to build that rapport with the seller. Another important thing to do is to talk about just how amazing their home is. Never ever bad mouth or try to negotiate in a letter to the seller. The main point in the letter to the seller is to make your buyers come alive, tell the seller how beautiful their home is and how you are putting your best foot forward to buy the home.