Dear Seller, Dear Buyer

Ah, negotiation. An ancient and complex artform.

Sometimes the difference between closing a deal and thwarting a deal is as small as a personal gesture of empathy. For instance, Jimmy Carter reportedly helped finalize the Camp David Peace Accords in 1978 by simply signing photographs to the grandchildren of the leaders of both Egypt and Israel. The delivery of the photos reinforced to the leaders just how crucial Mideast peace would be for future generations, and what had appeared impossible just days earlier came to pass: a brokered truce.

Grandiose but half-baked historical examples aside, the point of all this is that its difficult for humanity to separate business and personal affairs. This is especially true in real estate, where subjective feelings and objective finances mingle together in a frothy, highly-charged emotional stew.

For home sellers, getting a low-ball offer isn't always just a low-ball offer—sometimes its an affront to their personal dignity and everything they stand for. To calm these frayed souls, Ron Lieber of the New York Times recommends bringing a personal touch back to the negotiating table, by encouraging consumers to write letters to accompany each offer:

Dear Seller:

I’m writing to let you know that I would like to make a bid on your property. I love the area and am committed to buying a house nearby. And your home fits my needs.

But given that my offer is well below your asking price, I also feel I owe you an explanation...

A little empathy can go a long way in negotiation. Hat-tip to Nancy Scott, our Director of Education. Click here for the full article.