Barry's Real Estate Blog

I have to share my recent frustrations on getting and giving feedback when showing listings.  We, as agents, are part of a large but very intertwined community. Chances are you will show many listings of a particular agent in your market over time.  You may even coop with them on a few.  Since we rely on each other to coop, show and sell each other's listings, why is it so hard to get timely and detailed feedback?

I check my listings every day for showings.  I then send an email with 7-10 quick questions asking the agent to rank the listing on a 1-5 scale.  You can respond to the email at your leisure and it shouldn't take more than 30-90 seconds depending on how much info you share.  Why is it that about 50% of my feedback requests are ignored?  I even follow up with a phone call and about 50% of those don't get returned.

Common courtesy, professionalism and at least self-preservation dictate that an agent at least provide a basic response.

On the giving side of feedback.  Since I want your feedback, I am glad to give you mine.  However, don't call me 30 minutes after I have shown your home.  Not only do you look desperate but I am most likely either still with my clients or just finished a long day of showing.  Also, by calling me, you are relying on me to remember your listing and provide open ended feedback.

My recommendation is to follow-up the next day with an email and photos and ask me what you want to know.  How can you compare feedback from agents when they are giving you their opinion and not providing anything measurable?  Lastly, if you do send an email, make sure it has photos or links to photos so I can remember the listing.

In this difficult market, I feel that we need to support each other and respect each other enough to provide feedback.  This information is critical to all of being successful.  The more homes that sell and the sooner they sell creates a stronger market.  Personally, I also like to coop with agents I can count on and that can sometimes make the difference in a deal.

What are your thoughts?

In a down market, I am always looking for a way to differentiate my listings.   I have added several agent and buyer bonuses as an incentive to get showings and hopefully generate an offer.   On the buyer side, do the bonuses make a difference or should we just drop the price by the amount?  For agents, how much impact does having a bonus make on you showing the listing (assuming the listing meets your clients needs in the first place)?

One of the first things sellers want to know from an agent is: "What price do you recommend we list at?"  Once you give them a number, the tone for the rest of the meeting is set based on what their expectations were.  I try to take the list price and put it in context of what they will be netting (walking away from the deal with) from the transaction.  My net sheet shows them what they can expect in terms of concessions, price negotiations, commission and other possible costs, etc and what their bottom line will be.  Once we agree on a bottom line, it is much easier for them to see how the list price is only a part of the equation and not the only thing.  Then, when it comes to a price reduction or adding an incentive, they can see how it relates to their net.  In today's market, I find this approach helps get the home priced right from the start.  Also, I always bring the net sheet to the second meeting and only after I have viewed the home and have had time to reviee the competitive market.

Do you discuss "net" numbers?  How do you show your clients the big picture? Do you discuss list price at your first meeting?

I've read and heard many opinions on ho to set up a home for sale.  Declutter, neutralize paint and wallpaper, etc.  What about removing personal items such as family photos, college degrees, posters, etc?

In my opinion, as long as they are not offensive or excessive, I feel it is fine to leave photographs, awards, degrees and other personal items as is.  My feeling is that if the current sellers match the demographic of the potential buyers, the house will show fine with these items since the buyers will most likely replace them with their own.

Do you think a house should be neutralized and sterilized or can it be have the same success in being sold if left as is (as long as it meets minimum requirements stated above)?   What are your thoughts?