Is the offer you are making backed up with a well written and informative real estate cover letter? A competent real estate agent should always include a cover letter when presenting an offer. If he has not, he is surely working against your interests.
It is often said that too much paperwork clutters up the desk, as it does your client’s mind. That may be true, but it is also true that not having any paperwork at all gives the impression that you take a very casual approach to any business. It could give the impression that you do not take things seriously – ergo that you will not deliver on promises. That is exactly the image you do not want to portray if you are a serious buyer. That is exactly why a Real Estate cover letter is so important when you are negotiating a deal on property.
A well written and informative cover letter accompanying the offer tells the seller that you are serious and professional. It also lets him know that you have taken the trouble to find out all the facts about the market and his property.
There are certain facts which when put down on paper appear more authoritative and official than when it is just spoken. It gives the seller a lesser chance to counter it. For example if the cover letter speaks about the costs of property in the neighborhood with cold facts and figures it will be difficult to deny it. By writing officially that comparable real estate in the same neighborhood sells at such and such a price and that is the reason why the price you are offering is fair the seller will find it hard to rebut.
By telling him how you have arrived at the offer you have made, you may be able to justify a 5 % to 10% reduction from the price the seller wants. And when we talk about properties in the millions of dollars this is not something to be sneezed at.
A good real estate covering letter must have a friendly tone but also subtly point out that the market is down and prices are falling everywhere. It should also convey the fact that you are very interested in the property because you like it. It should also let the seller know that you have examined similar properties and have liked some of them. The seller should understand that yes – you would like to buy his property but that if for some reason the deal falls through, you do have other options.
In conclusion, a well-written real estate cover letter will also tell the seller that he is dealing with a professional real estate agent. It will reinforce the fact that the agent has the best interests of both the buyer and the seller.