In today’s episode of the Stephen Cooley Real Estate Show, Stephen and Chris Salerno talk about how important it is for sellers & buyers to understand each other’s mindset.
The mindset of a seller is to get top dollar under the best terms and get on with their lives. How can the buyer affect seller’s decision then? It’s simple – write them a ‘love letter’. It’s really good for you as a buyer to explain to the seller that you’re very excited about buying this home.
For more useful information watch this video:
STEPHEN: Hello, I’m Stephen Cooley and welcome to the Stephen Cooley Real Estate Show and I’m very excited to have Chris Salerno back on the show with me today. Chris is one of the top agents here on the Stephen Cooley Real Estate Group and an expert in our real estate market. So working with buyers and sellers, sellers to sell their homes and buyers to find the perfect home and that’s one of the things I want to talk about today, it’s when you bring a buyer and seller together, it’s really important for each party to understand the other party’s mindset and if you think about when you’re buying something you’re all excited, especially in real estate you’re buying your dream home, it’s place that you’re going to cook and live and raise your family often at times and bring your pets and all that kind of stuff. And the mindset of a seller whether they’re selling a car or a house or boat is to get top dollar under the best terms and get on with their lives.
CHRIS: That’s right and definitely when I’m dealing with sellers I like to sit down with them and explain if we do get an offer right then and there, explain to them that this is their home, this is their dream home and they’re gonna start their family here because you know like you just said sellers want to sell the house for top dollar and move on to their next adventure in life. So really making sure that the sellers understand this buyer, this is their home for the next 5 to 10 years. It’s definitely very big.
STEPHEN: And I think, I’m working with sellers that it’s really good to keep them focused on where they’re moving next and if that’s out of town, if that’s into a bigger home, a smaller home just keep them focused on where they’re moving next and the big picture for them is of course pricing best terms but it’s also moving on with their lives.
CHRIS: Yeah, that’s a big thing definitely keeping that your goal to your next adventure wherever it could be around the United States is definitely the main thing that you should have on your mind when you are selling.
STEPHEN: Absolutely, if you’re a buyer about to buy a home a lot of times I call them love letters for lack of a better word but it’s really good for a buyer to explain to the seller that I’m very excited about buying this home. This is the home that I envisioned, I wanted my family living to. Just had a home and we had 11 offers from buyers and one of the buyers wrote a love letter to the seller. It said ‘this is our dream home and this is the school district we want to raise our kids’ and did you know the seller picked that offer and it was not the highest. And it was good advice from a great buyer’s agent to write a love letter to make sure that their buyer got that home and here at the Stephen Cooley Real Estate Group we advise our buyers the correct way to get the home because again you’ve got to remember the seller is looking for terms and price and to get moved on and if you can get the seller to share some of the buyers emotion, the seller will appreciate that because if we’ve got good memories in our homes, we all want someone to have it and to have good memories there and for those memories to continue.
CHRIS: Correct, we definitely want to share those memories with those buyers or those future buyers that come into the home and I do recommend with all my clients that are
purchasing a home to write a letter, maybe to send a picture of their family. So the sellers can feel that this buyer truly wants his house to start their family or to raise kids.
STEPHEN: Absolutely and as a seller understanding that these people are buying this house to make a home really helps them understand the buyers mindset and when you’re a buyer or understanding that when you make that 8 to 12 page offer depending on if it’s North Carolina or South Carolina contract, you can term it to where it appeases the seller better and appeals to the seller and because you’re remembering at all times they’re just calculating the money and when they get it for the best term. So making complicated offers that the sellers have a hard time understanding always hurts you on price in terms if you’re trying to buy the home.
CHRIS: Definitely, here at the Stephen Cooley Real Estate Group we do study contracts every single day so knowing those terms that will help the buyer get the home is very big.
STEPHEN: Absolutely, a lot of buyers have a home to sell or they’ve got one sold that needs to what we call close for them to buy the next home and providing all that documentation to the seller so they can see if the home is under contract, if that home has a pre-approval letter too, have inspections been done and so we can help buyers really pull all that together and make it look the best for the seller and for our sellers we can request all that to make sure they’re not getting a contract where it’s not gonna actually close.
CHRIS: Correct, the big thing is making sure that here I know at the Stephen Cooley Real Estate Group we do our due diligence so we know all that paperwork that needs to get done for those situations so it definitely helps the clients.
STEPHEN: Moving on to talking about 2018 it looks like now that we’re into the first part of the year in the first quarter, it looks like this is gonna be a fantastic year to buy and sell real estate, interest rates are gonna still say low, there’s inventory on the market if you’re a buyer, if you’re a seller there’s at least not enough inventory that your home’s gonna sit for a while. You still want to get the home on the market at the best price and make sure you stage the home and do the things that we recommend to get you top dollar for the house and we’re trying to come out and do that if you’re interested in selling your home, if you’re interested in getting move this summer, actually earlier in the year is the best time to get your home on the market and Chris works with lots of sellers and lots of buyers, Chris tell folks how to reach you if they’re interested in getting their home sold or if they’re interested in seeing what homes are on the market today.
CHRIS: Wonderful, you can reach me at 803-396-8992 or at my website at email@example.com. You can see all the homes on the market.
STEPHEN: We have those magical lockbox keys that can get you in over 22,000 homes and the Charlotte MLS system, so we’re a one-stop shop just reach out to us and we can get you in any home you want to see. Chris, thanks for that valuable information.
Please keep in mind when you’re negotiating a contract with a buyer or seller how the other party feels in that and hopefully today helped you understand that a little bit better.
We’ve got beautiful homes for sell in your area, please stay tuned and we’ll be right back.
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Join us next week for more discussions on real estate topics and help in finding your perfect home. Thanks for watching.