Wednesday, March 21, 2012
Here's my take on buyer feedback. The way it works these days is usually that the buyers' agents receive an email or fax asking for comments on any listing they show including opinion of price, condition, how well it showed and any comments. Any informed seller already knows whether she is priced right and is aware of the condition of the property, so, feedback is usually worthless except to report new damage to vacant properties. Feedback does, however, provide an opportunity to buyers and buyer's agents. Is any good buyer's agent going to leave feedback suggesting that the price is too low or even just right? Never. Why not take an opportunity to plant a seed of doubt in the seller's head about the price. It may pay dividends when an offer is presented. Considering the open house encounter I think my new feedback routine will be to shower praise about the condition of the property regardless of my client's opinion of it but continue to suggest that the price is too high. That way I don't insult any sellers who are merely fishing for compliments but at the same time chip away at their resolve about their price. Sellers, you're better off listening to your agent and/or doing your own research and dismissing feedback as unreliable and sometimes intended to influence your perception of the value of your property. If you don't trust your agent's opinion get a new one.
"If the human brain were so simple that we could understand it, we'd be so simple we couldn't." ___unknown