Southern California’s real estate market is currently red-hot, meaning that inventory is tight and demand is off the charts – which means a home offer has to stand out to be chosen. It’s a great time to be a seller, but if you’re looking to buy—particularly, if you’re a first-time buyer—things may feel a bit daunting. It’s not uncommon in today’s climate for a listing to attract multiple backup offers, so as a buyer, it’s imperative you do everything you can to get an edge over any competition. One simple way to do that: write a cover letter!
According to a recent Redfin report, a whopping 43% of winning offers include them. And if you stop to think about it, it’s easy to understand why that is. If a seller has multiple offers from which to choose, and the terms of each are similar, a personal connection is an obvious tiebreaker. A cover letter that feels authentic and genuine is an excellent means of forging that connection. Here, some tips on putting together a winning real estate cover letter of your own.
- Get creative! A cover letter doesn’t have to be an actual letter. Done the right way, a video is an even simpler means of establishing that coveted personal connection. It could even be something humorous, like photoshopped images of you and your family enjoying the new home.
- Share your commonalities. Perhaps you’ve got children who are the same age as the seller’s kids, and play the same sports. Or maybe you went to the same college, or noticed their bookshelf contains some obscure titles you know and love. Show the seller that you have things in common, and you’ll earn points. It’s the perfect icebreaker.
- Remember that less is more. With the above in mind, it’s critical that the letter feels personal—just don’t overdo it. Why you’re on the hunt for a home is a new home is an important element in the story you’re telling, so if you’re buying your first home, say so. If you’re upgrading to something larger or seeking a place for retirement, say so. If your move is a result of, say, a messy divorce, that’s too much information for this task—keep any personal matters that could make the reader feel uncomfortable out of your letter.
- Keep it professional. Be personal and engaging, but remember—this is part of a business transaction. Proofread as carefully as you can, and then run it by your real estate agent to make sure it’s pitch-perfect. If need be, hire a professional to write it for you.
There are tons of ways to make your home offer stand out and assert yourself as a great buyer. Sit down with a First Team agent to discuss your options and make a strategy for buying your new home.
