We own a condo in Old Town and this is the second direct mail letter we’ve received from a potential buyer. In a buyer’s market, this direct mail strategy could be effective in buying a home at below market value. But in today’s strong seller market? Not a chance. Here are the issues with this strategy and this real estate prospecting letter in particular:
- If my property is not on the market, I am not a motivated seller.
- If I am not a motivated seller, then the fact that the author of this letter is providing a “market value” price, even though he has not seen my condo, is puzzling.
- The fact that the author is offering to buy my condo “as is” is a joke. Everyone knows that in a condominium, the HOA is responsible for all the expensive exterior items.
- Even though Utah is a non-disclosure state and sale prices are not made public, this non-agent thinks he knows the value of my condo (with and without “upgrades”!).
- This author’s value of my condo is 20% below market value. As a seller, does it make sense for me to lose 20% in order to save a 6% commission?
- The author’s attempt to “personalize” this letter by discussing his family is a total backfire. My condo is 1100 square feet. Why would I believe it’s the perfect location for his family of five?
- The author of this letter does not mention how he will be paying for the property, nor does he mention if he is a qualified buyer.
If you are a property owner, do not fall for one of these letters! With prices escalating very quickly in this market, you need a professional opinion to determine the value of your home. There is no shortage of buyers for your home. On the contrary, there is a shortage of homes for buyers!
If you are a buyer looking for a specific type of property, get a buyer’s agent to advocate on your behalf. We know how to write these letters so they are effective. We know how to use our network to find off-market properties and those “coming soon.” We understand how to craft attractive offers in this extreme sellers’ market so that our buyers win.