Expressing interest in buying someone's house IF they ever choose to sell it
What are your thoughts on approaching a homeowner about possibly buying their house (via a note or letter)? Is it generally considered insulting or flattering to the owner? I don’t want to offend anyone, but I was wondering about sending a note expressing my interest in case they ever decide to sell. (And no, it’s…
What are your thoughts on approaching a homeowner about possibly buying their house (via a note or letter)? Is it generally considered insulting or flattering to the owner? I don’t want to offend anyone, but I was wondering about sending a note expressing my interest in case they ever decide to sell. (And no, it’s not in Ft. Greene or Clinton Hill).
1:55,
I’m sure you’re right when you write “I think you are two of a very small number whose memories extend that far back. I don’t think the resentment is a carryover because few on this blog were even close to being alive back then, let alone old enough to get the mail and read it”, but I was writing about resentment in my own neighborhood where newcomers are often brought up to speed by old farts like me.
In the mean time, that reminds me of what it was like when I was a boy and I walked barefoot to school, in the snow, uphill both ways….:-)
True, 4:13, in a hotter market. But when there are no multiple offers on anything now even in prime neighborhoods, if offered a no-broker deal I myself would take the savings of the broker commission instead of gambling on getting more than one offer. Especially when you’re talking about an elderly seller who has not renovated the property recently. Those houses need a lot of work and do not attract multiple offers. These are the houses that don’t show well either, so a one-on-one deal with someone who has sent a letter, that could be ideal for an elderly seller. The seller should hire a good RE attorney though to do the deal and supervise things.
“Essentially your saying “I am offering you a chance of saving a 6% broker fee””
i am offering you the chance to not have your price bid up higher than 6% of asking.
goes both ways.
People don’t like the realtor solicitations because it insults their intelligence. Nobody hires a broker off a tacky flyer stuck in their door.
I would not be offended by a personal letter from an individual, though. I used to see those in CA in my old neighborhood a lot, b/c a lot of older homeowners were selling and the neighborhood was changing over and getting hot. (I was one of the first newer younger homeowners on the block.) I think if a homeowner were thinking about selling sometime soon, but were wary about the market, and procrastinating b/c of the whole PITA of cleaning up a house to show to buyers, they’d call you if they got a personal letter like that.
I wouldn’t target a whole block with generic letters though. Research people’s names and how long they’ve lived there on Streeteasy or Property Shark, and write a genuine, personalized letter. Don’t give a hard sell, just say you love the neighborhood and are looking for a home and “let me take you to lunch, let’s talk”.
My friend and his wife sent letters to all the homeowners who are part of a homeowners association near Wave Hill in Riverdale which they wanted to live in. Needless to say, they bought a beuatiful house on a large piece of property 4 years ago after one of the owners wanted to sell and contacted them directly
Bob, while I often enjoy the historical info you and Nostalgic supply, I think you are two of a very small number whose memories extend that far back. I don’t think the resentment is a carryover because few on this blog were even close to being alive back then, let alone old enough to get the mail and read it.
“why is everyone so offended by postcards/mailers from brokers?”
In my neighborhood, PLG, one reason might be a carry-over from the bad olds days of block-busting in the 50s and 60s. Although this was stopped, in part because of a non-solicitation order from the NY Sec. of State’s office, memories are long. When I bought my house in the mid-70s the non-solicitation order had been effect for a long time and block-busting was a memory, but a lot of hostility to brokers remained. In Lefferts Manor, at least, neighbors would get angry when brokers posted “for sale” signs which were not “the custom” in LM [I’m not sure if that started when LMA was founded in 1919 or if it was a reaction to later blockbusting, but it continued through the early ’90s or later, long after the non-solicitation order was lifted].
The bad feelings towards brokers never extended to those who actually lived in the neighborhood and FWIW, those individuals are still the most successful here.
We received multiple flyers offering to buy our house daily until the very day the South Slope downzoning went into effect. Much more paper than the restaurant flyers. All of a sudden it stopped once the zoning changed. Surprise, surprise. Now the occasional broker letter doesn’t bother me, but I can’t imagine they drum up much business that way.
To clarify – the reason I find the broker letters annoying is because they “pretend” to be personal letters from brokers with a specific person interested in my house. (Of course that same phony signed letter gets mass mailed to everyone in Bklyn). I find the pretense annoying and deceitful. The generic postcards or adverstising is fine.