Here in Los Angeles, the housing market is absolutely bananas. Even though home and condo prices have cooled slightly in recent months, prices are still sky high. And even if you’ve got the cash to pre-qualify for a loan, that isn’t any guarantee of nabbing a property — because the competition out there is so fierce that most properties garner multiple bids.
Just as one example, a friend of mine has been looking to buy a property in Los Angeles County for over a year. His financials are sound, he’s pre-qualified for a loan, and he’s put in bids right and left. But over and over, he’s been outbid or not chosen by the seller. Talk about discouraging.
Then, just last week, nothing short of a miracle occurred: His bid on a home was finally accepted!
Did he offer some astronomical price? Or promise a pound of flesh? Or sacrifice his first born?
Nope. Along with the offer he made on the property, he included a LETTER to the seller. He told his story of who he was, how much he wanted the property, and why. And guess, what? The seller took notice.
Something similar happened to me as a first-time condo buyer in Los Angeles a dozen years ago. It was 2005, and the real estate market was just as sizzling as it is today. I found the perfect property for me, yet I was outbid by others. I expected that I’d have to walk away from my dream home.
But my real estate agent had included a detailed letter to the seller that told my story. And miracle of miracles, the seller connected with that narrative. Even though she could have made slightly more money on the sale from another offer, she chose my bid because she was able to see a part of herself in my story.
In short, writing an effective narrative had turned a cold financial transaction into a warm, human one. Of course, not every seller will read and consider your story – but it certainly can’t hurt to try.
If you’re looking to buy a home and need help telling your story in a compelling way, I can help!