Biography of the buyer is not necessary

By
Real Estate Sales Representative with Metro Roberts Realty

In this age of technology, it is not always necessary for a buyers agents to do a formal presentation of an offer.  In many markets this can be accomplished by faxing or e-mailing over the contract. 

Some agents feel the need to present their offers to the sellers in person in order to give a biography of the buyer.  I have even gotten a two page letter outlining the "here's your life" story of the buyer.

In most instances knowing the background of the buyer does not make a difference to anyone. What really matters is the offer, qualification and closing date.  Usually this biography is used to sugar coat what is really a low offer.  The agent thinks that by giving you a heart warming story you will some how feel the need to lower your price by $20,000.  It never works.

In the long run its better to skip the long winded story and present a fair offer based on what you willing and can pay for the house.  If it is a low offer, better to explain why you think this offer is fair based on the condition of the home or location than use smoke and mirrors. 

Honesty is the best policy.  Be up front about your offer, don't hide behind a touching story.

 

Posted by

 

SELLING MORE THAN HOMES - SELLING A DREAM

Providing the Personal Service and Committment My Clients Deserve.

Lee Ann Obenauer - Licensed Real Estate Agent

For more information or assistance buyer or selling a home, please feel free to contact me at 

                (716)983-3607 or by e-mailing me at metro_obenauer@yahoo.com

Metro Logo  METRO ROBERTS REALTY

Western New York's fastest growing real estate company with four locations to serve you.  We offer the most extensive marketing package available in Westen New York. 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Dan Edward Phillips 08/09/2010 10:30 AM
Location:
New York Erie County Buffalo

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Show All Comments
Rainmaker
34,537
Cheryl S . Glover
Keller Williams Classic III Realty - Clermont, FL
CIPS, CRS, Green, GRI, SFR, TRC,

Absoutely correct.  A well qualified buyer is the one most important part of the contract.  Great article!

Aug 02, 2010 12:03 AM #1
Rainmaker
501,431
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Hi Lee Ann, I agree!  Thanks for the excellent post.

Aug 02, 2010 12:03 AM #2
Rainmaker
1,183,195
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Lee Ann - Excellent information. Thank you for posting a very good blog.

Aug 02, 2010 12:45 AM #3
Rainer
81,002
Wade Kawahara
Dominion Real Estate Partners, LLC - Phoenix, AZ

I agree, the bottom line is what will determine whether a seller will accept or not.

Aug 02, 2010 12:54 AM #4
Rainmaker
363,037
Robin Dampier REALTORĀ®
Coldwell Banker King - Hendersonville, NC
Hendersonville & Western NC Real Estate Source

In today's world and real estate market I agree with what you said.  But, I remember when a hand written introduction note from the potential buyer to the seller did mean something to a seller who loved the home they were now selling.

Sue of Robin and Sue

Aug 02, 2010 01:18 AM #5
Rainmaker
142,363
Mike Mayer
Mike Mayer, Broker/Owner - i List For Less Realty, LLC - Lafayette, LA

I politely disagree, somewhat...  The tone and perspective in which your post is written seems to suggest that you, not your client is making the decision. As there's no voice inflection with words on a pc screen, it's difficult to ascertain.

I have often submitted letters written by buyer clients that were genuine and displayed sincerity in purchasing the home. I think you fail to understand sellers; to a seller, the 'property' is their 'home' with an emotional attachment. To a typical buyer, it's merely a 'house' as there's no existing relationship with the structure. Providing a little warmth from the heart goes a long way to connecting with the seller. No doubt the buyer's qualifications to purchase, along with an acceptable price and terms, are essential to an accepted offer.

Perhaps New Yorkers are different creatures. In the Gulf South, the culture and custom is a bit more warm and inviting.

Aug 02, 2010 01:22 AM #6
Rainer
71,393
Kathleen Emhof
Buffalo, Amherst, Orchard Park and Western New York - Buffalo, NY
Home Staging and Redesign, Experts in Transition

Lee Ann, Although it's nice to know the buyers' story, a low-ball offer is an insult to the seller.  Plain and simple. 

On the other hand, some sellers need to have a reality check if their home is overpriced.  "A home's worth is what a buyer is willing to pay, at this time, in this area."  A Realtor's mantra.

If it's priced correctly, a buyer should never try to swindle a seller by using the seller's emotions. 

Your job, as the seller's OR "buyer's" Realtor, is a hard one.  YOU have to be the peacemaker/psychologist/negotiator/mediator etc.  Because of these complex roles, a Realtor MUST know the market.  Good Realtors do! 

Much continued success as a Realtor in Western New York!

Aug 02, 2010 08:23 AM #7
Rainer
60,152
Lee Ann Obenauer
Metro Roberts Realty - Buffalo, NY

Thank you for the responses.  Although I don't mind a good story to go along with an offer, I do mind gathering sellers and two agents at a particular time and place to hear a heart felt story and then get slapped in the head with a low offer with no intention of coming up anywhere near the asking price.

Aug 02, 2010 07:29 PM #8
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

The bottom line usually determines the outcome. But in multiple offer situations, knowing something about a buyer and their agent may help the seller decide on the offer most likely to succeed.

The lone low offer needs no bio.

Aug 09, 2010 10:35 AM #9
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Rainer
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Lee Ann Obenauer

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