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    Buyer Feedback is Essential: 6 Questions to Ask

    Buyer feedback – Few things are as important to a real estate professional when it comes to the sale of a home. Detailed feedback is essential to help you know what you're doing right, and what you need to change or improve. Are you asking the right questions to get this kind of actionable feedback?


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    What did you think about the house?


    It seems like such a simple question, but the answers could help you and your sellers make important changes to the property.

    Make it a habit of asking other agents and open house visitors several questions to learn what they thought of the house, including:
    1. What was your overall impression of the property?
    2. What did you like most about the home?
    3. What did you like least about the home?
    4. How do you compare this home with others you are viewing and considering?
    5. How do you feel about the price? Is it accurate? Underpriced? Overpriced?
    6. What would it take for you to make an offer today?
    It can be challenging to ask these questions face-to-face. For one, it would be tremendously time consuming. For another, open home visitors and brokers may feel put on the spot, preventing them from being completely frank in their replies.

    This is one way scheduling a showing through TREND can save the day. An email is automatically generated requesting feedback from the buyer’s agent after a showing, so you can quickly and efficiently solicit thoughts about the property.

    Learn how to set up your feedback requests in Schedule a Showing.


    Once you have this feedback use it to discuss changes with your sellers.


    Critical buyer feedback is a great way to help you negotiate needed changes with your sellers. Maybe you’ve been discussing the need for a price reduction, but your sellers thought it was a reasonable price for the market. If all of the buyers who view the house think it’s priced to high, that feedback might help sway your sellers.

    Home sellers often don't realize how important it is to have an agent who can tell them the truth about their property – the good, the bad and the ugly. There will be no sale if a listing agent isn't honest with their client about what will make the home more appealing to buyers. You can easily gather this critical information simply by having processes in place for collecting feedback.


    Reprinted in part with permission from RE Technology.

    To view the original article, visit the Properties Online blog.

    Want to read more? Get free RE Technology access with your TREND membership.






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    6 Comments
    1 - 6 of 6 Comments
    1
    Andrew Wetzel
    9/5/2014 1:18 PM

    Anyone assessing the price without market knowledge is doing no one a favor! If you don't know, don't answer the question. If it is too high compared to the comps, SAY SO. I have had agents say that a house was "priced correctly" when I have been talking to the seller about a reduction.

    Andrew

    Cathy Shultz
    9/4/2014 9:49 PM

    As a Listing agent feedback is most important, however saying the property is priced to high without doing comps is no help to a seller. It just gets them upset.

    Pearl Nickel
    8/27/2014 5:36 PM

    As one who works more with buyers, sometimes we can be so busy with showings and making offers that giving feedback has to take a lower priority.

    Andrew Wetzel
    8/27/2014 1:55 PM

    I look at us as being part of a community. Some buyer agents seem to feel that providing feedback poses a conflict and I see their point to some extent. However, I do not look for agents to tell me how a property is priced (knowing how it compares to others they are showing is helpful as we do not always "show" the competition) BUT knowing whether there is "interest" is helpful (some agents deliver offers or scan or fax them with no notice that they are going to do so or even after doing so).

    That being said, perhaps the most IMPORTANT thing I want to know is how the property looked when you got there and, if the owner/ tenant was present, how did they make you feel while you were there. Those are things that a listing agent won't necessarily know and I appreciate hearing someone else's opinion.

    Andrew

    Gloria Todor
    8/27/2014 8:17 AM

    Yes feedback for our sellers from other people is so important and can help a seller understand things about their situation. Also as Kathleen stated, just getting responses from buyers' agents can be a challenge. Guess they must be working exclusively as buyers agents and do not know the value of feedback for sellers.

    Kathleen Wilkin
    8/25/2014 11:50 AM

    And, as an aside to all of this good information -- please, Buyers' Agents, take the time to respond to feedback requests. The best questions in the world are meaningless if the listing agent cannot get a response.

    1 - 6 of 6 Comments
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