Feedback from the agent is important when selling property
One of the most overlooked factors in a successful property sale is the quality of the relationship between the real estate agent and the seller. First time sellers often think is exaggerated and overstated but experienced property sellers realise that the relationship they have with their agent is vital to a positive selling experience and achieving a successful sale.
An agents role can be broken down into two main areas: marketing and negotiating.
Within those two areas fall a whole host of skills and nearly all of them rely on the agents ability to communicate with buyers and sellers. If trust and rapport are non-existent or fizzle out during the course of the marketing, opportunities are missed, sometimes with costly outcomes.
Professional Quality Feedback is Important
Real estate agents providing professional feedback to property sellers is crucial to this relationship and sellers have a right to know what is going on at every step of the marketing and sale process. After all, knowledge is power and understanding reduces stress.
Importantly sellers cannot make an informed decision or distinguish a good offer from a poor offer if they are not in tune with the market, response to marketing or the reaction of inspecting buyer relating to price, condition, presentation or other matters which the seller may be in a position to rectify.
One of the reasons inexperienced agents fail to provide adequate feedback is that good news often speaks for itself, while bad news is likely to produce a negative or hostile reaction from the seller. This means many agents just report the good feedback or even worse, will adjust any negative feedback to be less confronting to the seller. It is vitally important that sellers understand that the agent is just that: an agent or go-between, a conduit of information between the two halves of the sale process.
A good agent should never withhold any facts or feedback that the seller should know, whether it is what the owner would want to hear or not. In fact, it is their fiduciary duty by law to do so even when that feedback prejudices their own position. An example of this is by providing the owner feedback on the buyers opinion of price it may result in the seller withdrawing their property from the market.
It is important that the seller not let the relationship break down by “shooting the messenger” when things don’t go smoothly or the feedback is negative sellers should ask themselves the following question:
Is the problem one of the agent’s creation or are they simply acting in their capacity as the go between and conveying information?
Remember, the real estate agent is working for you as your representative and with good two way communication, the selling process will be a more positive experience for you both.
At Nerang First National we understand this process better than most. In fact our seller feedback system has been developed into a commercial product called InspectionReporter and is now offered to the Australian real estate industry. We are proud of the fact that InspectionReporter is being used right around Australia to provide sellers with a professional communication and feedback.
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Tagged: agent, inspectionreporter, real estate, real estate agent, seller feedback
