Yes, congratulate those brave buyers of 2008-2012 and let them know it is time to sell! Get some help in creating a database of all buyers who purchased in your area during the bleakest of times. Write those buyers and let them know that now may be the time to sell.
Here is a letter that I wrote for one of my coaching clients who was looking for sellers with some freshly minted equity.
City, ST ZIP
Very few people had the insight and, frankly, guts to buy at the bottom of the market in the biggest real estate hiccup that (city/region) had ever seen. Your property at (address) is proof of that insight.
My name is (name). I’ve been placing property in the hands of smart investors and owners for (time in the business). I need inventory for my buyers and investors. I have seen owners such as yourself who have begun to “cash in their chips.” I would like for you to start thinking about the timing of your exit.
Here is what I am advising my owner clients:
- The new administration is selling lower income tax rates. This fact has not yet caught up with sellers, therefore the rush to sell has not started and probably will not for six months or more.
- Interest rates have started to climb, not enough to reduce prices but that will not be true forever. Inventory is low and prices have been bid up to the point that appraisers are having trouble coming in with values to support the bank loans.
- The IRC-1031 tax deferred exchange is still alive and well.
- People are looking to increase their yields in their government retirement accounts by taking advantage of self-directed IRAs, using real estate as the way to boost yield.
All of the above facts point to the realization that now may be the time to take advantage of your gutsy move from a few years back. I would like to talk to you about this decision.
Other sellers have had the following concerns, and here is how I responded to them:
- I’m concerned about income taxes. I am an expert in exchanges that allow you to defer every penny of taxes or other income tax-cutting systems like installment sales.
- I am waiting for higher prices. Sure, it’s possible but probably close to the top for a while.
- I don’t want to bother tenants. Easy answer: offers will be based upon “drive bys” only, and no tenant will ever be bothered until you agree to a written offer at your price. At that point, I negotiate with the tenant to give them enough time to find a new place and even possibly negotiate a small stipend for them to cooperate with a move-out on the correct date. Since many of my buyers are investors, there is a great chance that a tenant in place is an asset to the sale.
- I have a long-term lease with the tenant. I have bought tenants out of leases or as the scenario just mentioned above.
- I am just not ready. No problem, if you’re not ready. Allow me to email you comparable property reports so you can see what similar homes to yours are selling for so you will be the most educated, potential seller in town.
As you can see, I am excited about what you have done in your investment and what I can help you achieve. Please call or text me on (cell or email me at (email address) if a sale is in your future.
I hope to hear from you. If now is not the right time, please keep this letter for future reference when a sale may work in your best interest.
P.S. If you have a management company that has a right to sell your property, you might want to see why my marketing plan nets more money for my sellers. Sometimes, I have paid the management company a referral fee, allowing my team to handle the sale.
Do what other agents don’t do. Find hot seller demographics, send them a letter full of value, then follow-up with a phone call. That’s how my coaching clients are beating the competition like drums and winning the listings of motivated sellers. My letter book is loaded with the value-filled letters to the best demographics!
Through the years, I’ve collected many letters for just about every aspect in this business. Super Emails, Letters, and Web Content is a beast of a manual at over 700 pages with some of the best in my collection! This manual is the finest of lead generation letters, emails, and web content. They’ve all been tested for profitability. This manual will become the foundation of your direct mail, email, and database solicitation department. Included is the data CD, which is a digital copy for easier implementation.
Check out the details at http://www.waltersanford.com/shop/super-emails-letters-and-web-content/. Call 800.792.5837 and ask for the $50 blog special on this system!