Many desperate buyers write Love Letters to Sellers hoping to convince them to pick their offer in a competitive situation.
They try to create an emotional connection with homeowners to sway the decision in their favor.
How Love Letters Become a Liability
I know of many sellers who accepted a lower offer just because it was accompanied by a love letter.
This tactic works!
There’s just one problem … love letters can land you in hot water. They often violate fair housing rules.
Last year the National Association of Realtors issued this warning to its members:
“While they may seem harmless, these letters can actually pose fair housing risks because they often contain personal information and reveal characteristics of the buyer, such as race, religion, or familial status, which could then be used, knowingly or through unconscious bias, as an unlawful basis for a seller’s decision to accept or reject an offer.”
That’s why Oregon became the first state to ban love letters altogether.
As your listing agent, I will try to help you pick the best and highest offer that’s most likely to close.
I don’t want you to get influenced by emotions.
When I list a property, I only forward love letters to my sellers who specifically ask to see them.
My Strategy Will Get You a “Last Look”
As your buyers agent, my strategy is to sell the listing agent on your offer.
I personally know many Realtors, which often works in your favor.
I supply the agent with all the facts that make it easy for the seller to understand why you are the best prospect.
When I am successful, we will get the “call in the night” – a chance for a “last look”. The listing agent will call me and suggest how we can improve our offer before the seller makes the final selection.
I believe this strategy is superior to love letters and certainly does not violate fair housing laws.
Unfortunately, it does not always work.
Last week a cash buyer outbid us in the last minute.
The sellers had no choice but to accept that much higher offer.
However, they felt guilty and sent a letter to my buyers saying how much they regretted they could not work with us.
Want to employ this strategy when you buy a new house? Call or Text me at (614) 975-9650.