Press Release

Real Estate Buyer-to-Seller "Love Letters" Make a Comeback

(Boonton, NJ, September 1, 2009) — Multiple offers are making a comeback in boom-and-bust states such as California, Arizona, Nevada, and Florida. In some cases, sellers of lower-priced properties receive 20 or 30 offers.

Also making a comeback according to industry newsletter Real Estate Broker's Insider are buyer "love letters," in which a bidder tries to stand out from the competition by making an emotional appeal to the seller. Such letters became common during the boom market of 2005, then disappeared as sales activity slumped.

For a buyer in Arizona, sending a flower arrangement and a personal letter to a seller proved a prudent investment.

The emotional appeal meant the buyer beat out another bidder who offered $5,000 more.

Hunt Real Estate ERA in Tempe, AZ, listed the home, and the listing agent urged the seller to take the higher offer. After all, the flower sender was paying less and made the deal contingent on the sale of his home.

"It was very instructive," says managing broker, Jeff Lucas. If a home sale were purely a business decision, "love letters" such as this would be meaningless.

But sellers aren't always logical - emotions also play a big part in their decision. So some sellers are swayed as much by the buyer's life story as by the solidity of their offer.

About Real Estate Broker’s Insider

Real Estate Broker’s Insider provides agency broker/owners with actionable news and information on managing their businesses for greater profitability.

Website: http://www.BrokersInsider.com