Ken's Naperville Real Estate Blog : July 2011

Buyer Feedback: Why I Give Feedback and How it Benefits My Buyers

I read lots of opinions here on Active Rain about the value (or lack thereof) of giving and asking for buyer feedback.  It seems many agents believe that giving feedback after showings somehow compromises their buyers...

I don't believe this to be true.  I believe the reason it is hard to get buyer feedback is general agent laziness...

I always give feedback. Here is why:

It is the polite thing to do.  The seller of the home cleared out for the showing.  They cleaned up their house (hopefully), and made it look nice.  They may have even lit a candle.  The least I can do is let them know what my buyers thought...

It can also give my buyers the edge.  If my buyers are interested in a property, expressing that interest allows me, the buyer's agent, to open up negotiations without even writing an offer...

Here is how:

"Hey Ken.  What did your buyers think of the home?" asks the listing agent.
"Oh they loved it, but it's on the high end of their price range," I may answer.  And the games begin... 

The listing agent will trip over themselves with excitement.  They will follow up, asking what they can do to put a deal together.  This gives me a great chance to feel out the agent and his sellers...

I get an understanding of their level of motivation, and can usually get enough information to know a price they would accept.  I relay this information to my buyers, and let them make a more educated decision...

So stop avoiding giving buyer feedback.  It can benefit your clients...

Plus, it's the polite thing to do.

Ken

Comment balloon 12 commentsKen Tracy • July 29 2011 08:09PM
Buyer Feedback: Why I Give Feedback and How it Benefits My Buyers
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