The Numbers are the Love Letter

I’m a licensed Realtor in both Oregon and Washington; both states are wrestling with the legal status of seller “love letters.” What is a seller love letter? I’m glad you ask.

Love letters are written from (or on behalf of) a prospective homebuyer to a home seller and shares a personal narrative in order to entice a seller to pick that buyer’s offer.

• Oregon’s law outlawing them was recently struck down in court;

• Washington continues to discourage their use while not overtly taking legal action against them. 

Recently, as I reviewed offers with a seller, I came to the conclusion the numbers are the love letter.

A seller and their listing agent can—basing one’s assessment solely on the merits of an offer—get a sense of how much a buyer wants the house. This isn’t just about the top-line dollar amount, but rather the whole presentation: contingencies, earnest money, credits, escalation amounts, and so forth. The buyer is broadcasting their intentions in how their offer is crafted, and this is a key place where a good agent makes the difference. An agent who understands your desires as a buyer and what it will take to win can help you put into numbers what you might otherwise express with words. 

If you’re a buyer or a seller who would like to learn more about these terms and tactics, don’t hesitate to reach out. (509)540-5027 | jeff@jeffstrickler.com