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Rainmaker
1,230,042
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

No I'm not, but thanks for sharing.

I do what my clients want, I've never abide the nonsense - I do not use photos, but I do use a buyer & buyer team introduction letter. People's last names on the offer tells you a lot if you're prone to be racist, so intro letters are not adding more risk. It's not a sloppy love letter, it's a professional courtesy. And sellers are either racist or not. 

Luckily racism isn't really a big issue in CA where I've lived.

Regardless, I just do my job as above and beyond as i can for all clients and what is to be ...will be.

We still sell homes with master bedrooms too 😉. PC can jump off a cliff.

Nov 22, 2021 02:29 PM
Ambassador
3,272,629
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

No I am following it.  I have my thoughts on love letters from buyers and our buyers don't include them.  Their offer is either strong enough along with pre-approval or cash documented - or it's not.

Nov 22, 2021 04:24 PM
Ambassador
3,055,949
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am not.  Should be interesting to see the outcome. 

I do not pay for Inman so I cannot read that article however I am sure Mr. Google has other resources I can read. 

Thank you for letting us know. 

 

Nov 22, 2021 03:07 PM
Ambassador
2,605,243
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

They can write them but it doesn't mean a seller will accept an offer based on  what is written. I agree with Anna Banana Kruchten CRS, CRB, Phoenix Broker!

Nov 22, 2021 07:05 PM
Ambassador
971,771
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Very interesting.  I dont think there's anythign wrong with 'love letters'.  I've seen soem great ones.  I've also seen some agents "enhance" them, and for those reasons, while I'm indifferent, I do believe they should be allowed, so hopefully that's the way this will go.

Nov 22, 2021 05:13 PM
Rainmaker
316,087
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

No I haven't read, Margaret Rome Baltimore 410-530-2400 . But I do not believe in love letters anyway. To me the best way to win an offer other than writting great terms, conditions and price. Has always in my opinion been in person, I don't believe someone can truly express themselves enough in a so-call love letter!

 

Nov 22, 2021 04:57 PM
Ambassador
5,408,079
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Free speech seems to be something we give up everyday in this business.

Nov 22, 2021 09:40 PM
Rainer
116,718
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

It is not necessary to outlaw love letters.

If a seller - not the government but the seller - wants to tell the agent (in writing) to not present offers with love letters, that is the seller's perogative.  But that can be handled in private transactions without government intervention.

It is true that love letters can lead to Fair Housing violations, but anything can.  Should we allow the buyers and sellers to see each other prior to the contract?  That could lead to discrimination.  From now on, it will be illegal for sellers to be near their own property when the house is being shown, but this could result in discrimination.  Give me a break!

Just because something has the potential to lead to a violation, does not mean will result in a violation.

Nov 23, 2021 06:07 AM
Rainmaker
5,586,646
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Margaret,

Thank you for sharing this with us.  A

Nov 22, 2021 02:43 PM
Rainmaker
376,733
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I do not like the term love letter, but yes, I do think the law should be challenged.  Buyers should have every opportunity to make their own case.  Money is not everything.  There are a lot of really good reasons a seller might accept a lower offer from a buyer like, closing on time, being reasonable regarding repairs, use of the house, etc.  Introductory letters, when done right, can carry weight on those issues. 

Last year, I had a listing agent pass up a number of higher priced offers because he felt like my client would close and close on time.  It was a fair offer and my client's arguments carried the day.  The listing agent was tired of high offers coming in and then trying to chip away at the sale's price with unreasonable requests during inspections.  In this case, an introductory offer even held sway with a seasoned agent/investor.  I was surprised for sure.  I thought if anyone was going for every single dollar and the best financing, it would be him.

I understand that the letters can be used improperly, but the converse is also true.  They can be used properly.  I think it is up to us to help make sure they are used correctly.

BTW-we can say the exact same thing about other aspects of what we do.  Buyers and sellers might be choosing us because of how we look in our profile pictures, who is in our celebration pictures at the close of a sale or by the name attached to our testimonials.  Those reasons can certainly be inappropriate or appropriate.  Do we ban all of those too?

We really do have to have some control over how we choose to do business.  If I have a client trying to overachieve based on their finances, I will certainly do everything legal that I can to get them their new home. the same hold true for helping a seller. 

When we ban introductory offers, are we actually hurting those that need our help the most?  I think so.

Nov 23, 2021 05:31 AM
Rainmaker
4,209,388
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Caught a headline a while back. Retired and did not follow-up!

Nov 23, 2021 04:18 AM
Rainmaker
1,387,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I saw it mentioned in the daily NAR email blast.  Good for them!

Nov 22, 2021 10:26 PM
Rainmaker
991,135
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

No, I haven't been but will read up on it

Nov 23, 2021 07:22 AM
Rainmaker
652,218
Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FL Probate Agent, Hotel, Land, Multi Family

No I have not and have had many sellers who want to know who will continue to live in the home they raised their families.  They are very attached and want to feel the new buyer will enjoy the property as much as they did.  It is a seller decision not an agent decision.😎 

Nov 23, 2021 06:04 AM
Rainmaker
888,897
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Poor Inman. Got left at the alter when Zdevil joined the NAR Union.
Acknowledgement letters will always be an option for the sellers I work with.
I can see acknowlegement letters getting embedded into contract attachements or making it to the seller in a myiad of ways.
Next in the sequence of taking away free speech will be an imposition requiring SELLERS to 'de-personalize' the property they are selling to mask mechanisms of revealing the preferred buyers. I am going to crate two statuaries for that very reason. No Mother, Father, Daugher, Son photos on the wall. No memorial flags in triangle boxes. No books on the book shelves such as the Bible, Catcher in the Rye, Atlas Shrugged, Huckleberry Finn, Our Fathers at Gettysburg or nude statues of David. Each of these, an attibute indicating at preferance.
Where will it end?

Nov 23, 2021 05:50 AM
Rainmaker
761,962
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I did see this and am following with interest.  I visited with a new homeowner yesterday who noted that "we didn't just buy a house... we bought a place to raise our family and make memories".   That's important to so many sellers too - especially those who have done the same in the place they're selling.  There is a way to write & receive a love letter without being a jerk... And no rule or guideline will ever truly control the process; especially with so many opportunities for  our clients to learn whatever they want about the other side.  IMHO,  just let the letters circulate and let agents determine the best way to include them -- or not.  

Nov 23, 2021 05:28 AM
Rainmaker
3,466,305
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Margaret Rome Baltimore 410-530-2400 I haven't yet, thank you for the reminder.

Nov 22, 2021 08:08 PM
Rainmaker
6,606,573
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have not been following this. Thanks for the link.

Nov 23, 2021 05:17 AM
Rainer
317,600
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Agents can't put: couples only, crippled, Catholic, Chicano to name a few c's in a MLS listing for real reasons.  How will you know if the love letter steers a seller away from your buyer? How can you protect yourself from being sued for discrimination?  

A buyer letter attached to an offer can list the advantages of this unique person(s) by stating: days to close, showing assets with account number blanked out, type of loan product, dependabilty and desire to close on time without including photos, ages of children, and identifying factors. The contract itself says owner occupied and names of the buyers are easy to google search  vs a contract marked LLC buyer or assigns not owner which tells the seller much information in the decision making.

A buyer's agent who "plays well in same market"  (was cooperative, honest, and closed on time without asking for a thousand extra concessions after coming to an agreement)  tends to get the deal. A buyer can't know who is the best negotiator in these terms, they often pick on convenience or recommendation of a buddy.

I think the love letter issue will become a red or blue topic to  rant about. 

Nov 23, 2021 09:30 AM
Rainmaker
384,652
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

I haven't been following since it doesn't affect Arizona. But, It is probably much to do about nothing. Since the law only prevents agents from passing the letter along as part of the offer, it takes some liability away from the agent.

I have seen letters work for some buyers, and backfire on others. If the buyer wants to contact the seller they will and I can't stop them. As an agent we have to remind ourselves and our clients this is a business transaction, keep it as such.

Nov 26, 2021 06:36 AM
Rainmaker
743,262
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

I haven't seen it. I let buyers know we've been told not to submit love letters. Some buyers are taking them straight to the sellers. Unfortunately, people who want to discriminate will find a way. I don't typically work with those who are likely to do that. I think most people have good intentions. 

Nov 25, 2021 06:12 AM
Rainmaker
645,418
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I can see "love letters" being quite discriminatory especially if a photo is included.  I believe that a general overview told by the agent to the agent should be legal and sufficient as long as no fair housing violations are displayed.

Nov 24, 2021 07:24 PM
Rainmaker
1,217,642
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

THe First Amendment ONLY applies to the government censoring speech/expression.  Free Speech has nothing to do with private transactions.  What the rule against Love Letters does, I believe, is protect agents and their clients against any claim of discrimination which is a beneficial thing since I'm an agent!  I've never used them and always thought they were silly.  The terms of the offer speak for themselves.

Nov 24, 2021 07:33 AM
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I am not but, our state discourages agents from submitting them. Too much risk vs. reward for buyers AND for sellers.

Nov 23, 2021 07:45 PM