“It gets me to look twice and talk to the sellers (my clients)” if the potential buyer is professional, said Safiedine, who has been in the business for 16 years. The cover letters condense the important information into digestible pieces and saves him and his client’s time, he said.ĭepending on how they’re presented, the letters can help differentiate potentially problematic buyers from more organized buyers who show they’re on time and ready to close. Rancho Bernardo-based real estate agent Mike Safiedine has received more cover letters from buyers and their agents in recent months, an emerging trend he likes. “You need to stand out amongst a sea of offers.” “You need to be brief but strong,” Dennis said. They typically state the offer prices and perks for the sellers, such as cover closing costs, says Dave Dennis, another local real estate agent who uses cover letters. Good cover letters also outline clearly what buyers are willing to bring to the table. They tend to describe the buyers, from their professions to why they like the homes. “The seller’s agent, I guess, liked that Molly and I grew up in Poway and went to high school here and had family in town - all of that,” Adam said.Įffective cover letters share similar characteristics. It also helped that they could make a 20 percent down payment, Hale said. The Sarasins beat out at least two other offers for the Poway home. “I hope this gives you a good overview of why Adam and Molly will be the perfect choice for your new home,” says the letter, which ends with a photo of the smiling couple. “Adam met a wonderful young woman, Molly, and they will soon be getting married,” reads the letter, titled “Offer On Your Home.” “They love your house since it is updated on the interior and will have enough room for an office, their bedroom and what they hope to soon be a baby room. The couple submitted a cover letter, penned by their real estate agent, Hale. Instead of giving in, they tugged at heartstrings. “We definitely found that inventory was too low. Four months in, they realized cash buyers were routinely knocking them out of the running. Newlyweds Adam and Molly Sarasin saw the odds stacked against them when they started searching for their first home last spring. Limited inventory and increasing home values have pushed potential homebuyer to do anything extra to help them stand out, something that’s becoming more common - and possibly more necessary - within the past six months, real estate agents say. While inventory numbers have ticked up slightly in the past two months, which is normal for spring, the listing total is still lower than normal. There were roughly 4,100 active San Diego County listings in January, the lowest number in at least 3½ years, show numbers from the Greater San Diego Association of Realtors that start in summer of 2009. Meanwhile, the housing inventory in San Diego County is so tight that buyers can get in the middle of bidding wars. San Diego home values ended 2012 at $366,000, the highest median price since June 2008. These love letters, which are included with offers, are not new to the industry but their resurgence is more proof that the housing market is on the rebound after a five-year slump. “Whatever we can do to make us stand out and make our buyer stand out, whether it works out (or not,) we just want to make our buyer have a little leg up on their competition,” said Patrick Hale, a San Diego real estate broker who encourages his agents to try different things to help their clients stand out and close the sale.
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