When supply exceeds the demand, it’s called a buyer’s market. In real estate terms, it refers to a situation where the buyer has an advantage over the seller in price negotiations.
As a realtor, one must ensure that buyers find the properties they want. But one must also connect with sellers and inform them of selling opportunities when they arrive because the seller is equally important as the buyer.
Social media, open houses, and other mediums are helpful, but only to a certain extent. One way of arousing immediate interest from potential sellers is using ‘I have a buyer for your home letters.
What is the purpose of such letters, and what purpose do they serve? What are the contents contained in them? Do they have any benefits? Read on to know.
Why should a realtor send such letters?
Informing the client
The objective of such letters is to inform the client that a buyer is interested in their property or is looking to move into the neighborhood and should contact the agent immediately.
Quickening the selling process
The primary motive is to instill in them a sense of urgency, in which even a day’s delay could lead to a wasted opportunity. Since they will have the agent’s phone number and contact information, the selling process will be quicker.
Shows a realtor’s experience
Sending a personal message to a prospective seller in which realtors inform them about a buyer demonstrates their experience in the real estate market. It shows that they have been involved with buyers and sellers in the local community and don’t feel the need to hunt for listings like other agents.
These agents can also convince the seller that they would get a fair deal from the transaction since the agents have previously handled similar transactions.
Create opportunities for the future
Not everybody who receives your message will read it or store it safely after reading it. However, many will keep it away with the intention of contacting you in the future. You should be ready for those prospects when they call you.
It’s a type of direct marketing
Sending letters is direct marketing, but why does that matter? Well, statistics clearly show the efficacy of this method compared to digital marketing.
Email marketing has an open rate of almost 90%, compared to 23% of emails. 70% of customers feel more connected with this type of communication, and 54% prefer companies to interact with them personally rather than online.
You must utilize this method to the fullest to enjoy the best results.
What should it contain?
Since one of the main objectives of sending a document of this type is to capture the client’s attention, it should look attractive while containing the essential details.
Your company’s logo should occupy the top space, where it is easily visible to everybody. The message should be short and crisp, with a legible but stylish font.
It must have your passport-sized photograph with your name, email, website, and contact number below.
Do postcards serve the same purpose?
If you are hesitant about sending letters for some reason, postcards are a brilliant alternative. Besides providing you the benefits of direct marketing, they are less time-consuming because, with letters, you must purchase envelopes and fold and seal them.
Since the customers don’t have to open the postcards, it has a higher chance of being read. You can also send them in bulk to a target audience in a neighborhood after farming (a process through which you search for prospective clients) in your area.
However, the elegance and business sincerity lie in a letter for sure.
‘I have a buyer for your home’ letters are effective and less costly for connecting with potential sellers. They will appreciate this marketing method since it has a personal touch, and you will end up with more leads than expected.
