Buyers Appeal To The Emotions Of Sellers To Secure Homes
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(Although we are in a slower than normal housing market, that does not mean that people have stopped buying and selling all together; it is just not in the frenzied pace it was during the housing boom of a few years ago. )
And even though we are in the midst of a buyer’s market with a surplus of homes on the market and prices that are slowly dropping, doesn’t mean you couldn’t find yourself in a position where you have to fight for the house with another buyer. This rings especially true if it is a much coveted property, then the status of the nation’s housing market really doesn’t matter.
That is why the savviest buyer knows that they must appeal to the seller’s emotions in order to secure their dream home, and there are various tricks of the trade that can make this happen.
Elizabeth Weintraub writes about the various ways a buyer can appeal to the emotions of a seller in her October 27, 2006 article, “Triggering emotions help home buyers win offers,” featured on about.com.
“Even in a down market, with seven months of inventory and 51 Days On Market (DOM), properties are moving. In fact, three of my listings sold this month as a result of multiple offers. Which buyers in those offers had the edge? I'll tell you. The buyers who were successful made the seller care about them. It's pulling on heart strings that works. Well, that and the services of a good selling agent.”
“The best way to get an offer accepted is to appeal to a seller's emotions. Why? Because residential real estate transactions are put together -- and sometimes blow up -- over emotional hotbeds of insanity, lunacy and what often seems to be bipolar mood swings. So it helps if you can give the seller a reason to care about you.”
One of the ways the author suggests getting a homeowner to care about you is by writing a thoughtful letter that explains a little about your background and the reasons why you couldn’t live without this house.
She suggests including things such as your occupation and education and the names and ages of the people who will occupy the home.
Also, listing specific reasons why you fell in love with this home and why it is a good fit for you are always good ideas.
Another important part of this is drafting a clear and positive offer, which is sometimes difficult to do in the midst of the exciting moment of being steps away from home ownership.
“Sometimes in the excitement of writing an offer, buyers don't read the offer for clarity. Ask your agent to double-check the offer as well. Don't leave out an essential element or give the seller any reason to write a counter offer. If the agent prepares a counter to correct mistakes, it might make the agent consider changing terms of the offer as well. Make it a no-brainer for the seller to sign the offer the way you wrote it. Cross all your t's and dot all your i's.”
Be sure to verify small details such as the address and closing dates, among other things. All in all, just be sure that you are sincere, upfront and honest with the seller throughout the transaction, and things should run quite smoothly.
