When you show a property to a buyer, give showing feedback.
It’s a standard in our industry that when you show a property to a buyer that you give feedback to the sellers. I’ve sold over 1,000 properties and what I see is that only about 20% of the agents showing properties are giving feedback even when prompted.
I get it! You’re out showing properties. The buyer is not interested. So you don’t think there’s anything in it for you to give feedback.
I’m here to tell you that there is something in it for you. It’s called reciprocity. Listing agents work with buyers agents that they want to work with. I’m going to say that one more time. Listing agents work with buyers agents that they want to work with.
Who do they want to work with? They want to work with agents that are conscientious, that are great communicators, that work towards the greater good of our industry.
What happens if you don’t give listing feedback?
Well, the first thing that happens is the seller calls the listing agent and says, “Hey, look, what happened with the buyers that came through their property?” Well, if they don’t have feedback, they don’t have anything to pass along to the seller.
What is a seller looking for as far as feedback?
Well, the first thing is they’re looking to see whether or not your buyer’s interested in making an offer. Now there’s a lot of things that go along with this feedback and I get it. If your buyer is interested, you may be working some strategy. And that’s okay. Just go ahead and let the listing agent know that you’ll be giving him some feedback later. So another bit of feedback that the sellers are looking for is the sellers are looking to see if there’s anything that they could do to prompt your buyers to make an offer. An example would be, granite countertops. “Look, my buyers would make an offer if it had granite countertops.” That helps because maybe the seller is willing to put granite countertops in and you can make a deal happen.
Now, the third thing, and maybe the most important, is your opinion of the price. Now, by giving your opinion of the price, not only does that pass that information along, but it helps the listing agent have that conversation with the seller about the home being overpriced. There’s a lot of agents out there that have a hard time telling the sellers what they really need to hear. This is an opportunity for you to help those agents have that conversation with the sellers.
So look, let’s all work together. Let’s all work together for the greater good of this industry and leave showing feedback.
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