Yes, appealing photos, aggressive marketing and an attractive initial price can get prospective buyers in the door. And a quiet neighborhood or an expansive yard is attractive to many.
But sellers can’t truly find out how popular their listing is without hearing from prospective buyers.
Let’s be honest: The majority of people think more highly of their homes than others, and therefore hope for a higher price than they’ll probably end up receiving. And that’s only natural, given the personal memories that were created in the home.
And while real estate agents have many tools available as they discuss setting an initial price — their own experience, current trends, market stats, etc. — there are some areas where only prospective buyers can provide honest, blunt feedback.
So, how does the feedback process work?
After a showing agent and prospective buyer see a house, the agent receives an email from the listing agent asking what they did or didn’t like about the home, what stood out, how interested they were, etc.
The response then goes to the listing agent (and sometimes the seller), who shares it with the seller if they’re not automatically set up to receive the initial communication.
How listing agents and sellers utilize feedback varies, but sellers can take advantage of the feedback in a number of ways.
Some of the feedback sellers receive can be easily addressed. Replacing old carpet, putting on a fresh coat of paint or redoing shoddy landscaping can be relatively quick, painless and cheap. Fixes of this nature shouldn’t impact the sales price too much.
Other feedback suggestions sellers receive might not be so easily remedied. The lack of an open concept or too few bedrooms are not cheap to address. Too much of this type of feedback might eventually lead to sellers and their agent rethinking and dropping the asking price.
If sellers have the budget to attack big fixes of that nature, however, feedback can serve as a tiebreaker between couples debating on what big issue to tackle.
Feedback can also assist the seller’s agent in the marketing of a home. If enough prospective buyers comment on the neighborhood, but no one mentions the finished basement, then the agent can shift around the features mentioned in the listing, more prominently highlighting the popular ones.
Although receiving feedback is critical in the early stages of selling a home, it’s also important to remember to take individual comments with a grain of salt.
Real estate agents are busy and see multiple homes with several clients a day. It’s tough for them to remember every positive or negative comment about each listing.
Likewise, prospective buyers can come to rash judgements. One small issue with the landscaping or entrance might immediately give them a negative view of the home in general, leading them to completely dismiss it and pile on what they don’t like.
Sellers shouldn’t make drastic decisions based on one or two comments. But it is imperative for them to receive feedback and get a consensus about the house, its layout and the price, so they can address any issues, highlight popular aspects of the listing and, ultimately, sell the home.
Sellers: Check out how others in your shoes benefited from selecting real estate agents who subscribe to ShowingTime products, many of which include automated feedback requests.
Real estate professionals: Are you looking for ways to streamline your business, including automating your feedback? ShowingTime has several products that offer automated feedback requests. Click below to request a demo and learn more.