You may have heard about a dear seller letter being used as a strategy to aid in pushing your offer to the top of the pile when buying a home or condo. It’s something we’ve been on both sides of – has it worked? Absolutely. Everyone from first-time-buyers to investors have used these letters to help them purchase a home or condo.
A dear seller letter is something that can give a buyer a distinctive edge in a seller’s market. In Toronto and the GTA, listing inventory is somewhat low and buyers are finding themselves competing for a limited number of available properties for sale.
When competing for a home, there are many ways to make your offer attractive to the seller. When a seller is reviewing multiple offers on their home that may be very close in price and terms, you want them to feel an emotional connection to you. A well-written dear seller letter can create that connection.
Based on our experience with buyers and sellers, here are some of our top tips for an impactful dear seller letter.
Let the seller get to know you.
Start out your dear seller letter by introducing yourself and let the seller know who will be living in the house. They might be thrilled to know that you are, for example, recently married, first-time buyers who are in love with the neighbourhood, or have children of similar ages. It’s all about making that personal connection.
Tell the seller why you are moving
Helping the seller understand your motivation for buying their house can make a difference too. Sellers might be more motivated to sell the house to a family who is weeks away from the birth of a third child and desperately needs the fourth bedroom their house offers.
Explain to the seller why you love the house
Chances are the seller originally purchased the property because, like you, they felt an emotional attachment to the home. Let them know the distinct characteristics that drew you to the house; whether it’s the beautifully remodeled kitchen or the hardwood oak floors they may have painstakingly just refinished. Sellers will appreciate knowing the details that make their home special to you.
Common ground
You should remember and mention things about the house that show your common interests like evidence of pets, kids, or hobbies. If you know the seller has a dog and you have one too, be sure to let them know how much you appreciate, for example, the fenced-in back yard that will be perfect for your beloved pet.
Compliment, Compliment, Compliment
Lastly, every good dear seller letter should include lots of compliments and seller love letters are no exception. Make sure your letter is full of sincere praise. Did the sellers renovate the home? Let them know how much you appreciate their design aesthetic. Is the lower level recently finished? Let them know how much your family will enjoy the space. Did you notice a copy of a classic novel on their kid’s nightstand? Mention how, as an English teacher, that impressed you!
Everyone needs a little love and home sellers are no different. If you find yourself competing for your dream house, using these tips to write the perfect dear seller letter may give you a edge. It’s also always a good idea to get the help of an experienced real estate professional to help you navigate through the home buying process.