Showing Feedback: Don't leave them out in the cold

Don't leave them out in the cold!

It's no secret that central Ohio is a buyers' market right now. There are eight times as many homes for sale as we have buyers to buy them. The result is quite a few anxious sellers.

Anxious sellers make for anxious seller's agents, both of whom are growing more and more concerned as time stretches on without a sale. Sellers and their agents both want to know why the home is not selling and, more importantly, what improvements might expedite a sale.

In order to become a REALTOR®, you signed an agreement stating that you agree to abide by the REALTOR® Code of Ethics which mandates that you treat one another with respect and courtesy.

This is even more critical now as market conditions strain agent client relationships.

Close your eyes and just imagine for a moment what a week in your life would be like if you received timely feedback on every showing. Or how about a timely response to your request for feedback? Nice, isn't it?

But all too often, in the hustle, bustle world of real estate, agents don't prioritize providing showing feedback and further don't even respond to a listing agent's request for feedback on a showing and the scenario can go a little like this . . .

Click here for pdf of this article as published in the September 2007 issue of In Contract magazine.

The seller has cleaned and polished the place spotless, pulled back the drapes, turned on all the lights, turned off the television, taken the dog to the neighbor's, and made arrangements to be elsewhere for the afternoon despite a long list of things they would prefer to be doing at home.
They return several hours later and call to find out what the buyers thought. Their agent explains that the buyers might still be out viewing homes and/or the buyer's agent hasn't had time yet to respond. Later that evening, the listing agent leaves a voice mail message for the showing agent asking for feedback.
Having not received any communication from the showing agent by the next day, the listing agent sends an email requesting feedback.
The listing agent and seller anxiously await the buyers' impressions of the home?impressions that never come. Hours and now days have gone by since the showing and nada a peep from the showing agent about the property.

For the seller, precious money may be lost as prompt feedback could help them to make decisions, earlier rather than later, that might help their home sell more quickly.

For the listing agent, precious time has been lost trying to solicit feedback from this and other showings on the property and in making excuses to the sellers for the lack of communication by fellow real estate professionals. These repeated excuses whittle away at the tentative trust established between the agent and the seller. And yet, sharing with the seller what a `jerk' the showing agent is will not impress them either. The selling agent is between a rock and hard spot due to the professional negligence of a fellow agent.

For the industry, precious repute is now lost as sellers lose faith in the home selling process and those who claim to be real estate professionals. And they will find opportunities to share their angst with many others.

Not provide feedback? Not an option!

Communication and feedback are truly the name of the game in this business. Why? Because how else are Sellers and their agents going to know what changes to make, what changes cannot be made (location, for example) and what changes would not return much value at resale.

And, while it is sometimes difficult to hear, sellers need and depend on feedback from the market of buyers they are hoping to attract.

How does the home compare to others in its price range?
Is the condition of the home what you would expect to see?
Is the décor too distracting making it difficult for the buyer to imagine how the home would look with their own furnishings?

Conscientious buyer agents will keep notes from each showing in order to provide sellers and their agents with solid feedback. Unfortunately, in our real estate world, not all agents are as conscientious.

Make providing feedback a process instead of a pain

Here are some suggestions to help make soliciting or providing feedback less of a chore. A sample list of showing feedback questions is provided below.

Sample Showing Feedback Questions

What is your overall impression of this home?
How does this home compare with others we have toured?
What do you like most about this home?
What do you like least about this home?
What is your opinion of the price?
How do you see yourself living in this home?
What would it take for you to buy this home today?

Showing agents
Provide your buyers with a questionnaire that they can complete for each listing you visit. Make a copy for them when you're back at the office. That way, both of you will have a permanent record of their impressions and you'll have a document you can fax right over to the listing agent.

The most efficient way to capture the buyers' first impressions of the listing is to have them write down their comments while still in the home. Take a moment and force this upon them. Sit down at the kitchen table and zip your lips so they can focus on their impressions. If they are also in a selling position, they'll appreciate your perseverance all the more.

The next best option is to have the buyers write down their thoughts immediately afterwards in the car as you drive to the next listing or back to the office. But, here again, the urge to talk will interfere with quick and candid documentation of their thoughts on the property.

In addition, jot down your own thoughts on the listing print out while viewing the home. That way, if you have obstinate buyers who balk at completing the feedback form, you can jot down their comments as well as your own and fax the sheet to the listing agent later.

Listing Agents
Create a standardized feedback questionnaire. Sample questions are provided opposite. e-Mail this questionnaire to the buyer's agent prior to the showing asking them to print and have the buyers complete immediately after the showing. Be sure to include instructions on the form as to how they should handle the form once completed . i.e. Leave this form on the counter before you leave the home or fax to me at (614) 555-5555.

Provide copies of this questionnaire to your sellers and ask them to leave on the counter for the showing.

Call the agent after the showing to ask if the form will be forthcoming. If there's any hesitation, have your list of questions handy and fire away. At least you'll have something to provide the seller.

If you get voice mail, e-mail the questionnaire again and request they complete it immediately before the buyers (or the agent) forgets important details.

Automated Feedback
Also, for a nominal monthly fee, listing agents can invest in one of the automated programs that can turn the once-dreaded task of manually gathering input from home showings into a simple process that saves you time, impresses sellers and could help the home sell quicker.

Most web-based feedback systems operate in a similar fashion, differing only in cost and specific features. Here`s a brief synopsis of how these systems work:

e-Mail showing agents.
Automated feedback is usually done through a series of e-mail reminders to showing agents. A link in the email takes the practitioner to an online feedback form with questions that can be answered with a few clicks of the mouse. Because it's so easy for the showing agents, you can expect response rates to increase dramatically.
Standardized report created for you.
Showing agents provide their feedback on a web-based form, so their comments are always standardized, aggregated, and ready for review. The reports are created automatically when a practitioner submits a feedback form, so you don't have to do any work.
Sellers can view the reports.
With password access, sellers can view showing feedback at any time online. This is great for a couple reasons.
First and most obvious, it removes you from the role of delivering bad news. When confronted with bad news (in person), sellers often respond defensively -- not an unreasonable reaction for anyone receiving negative information about their home which translates to a direct reflection on them.
And when reacting defensively, the result too often is to posture and perhaps make nonsensical statements which, depending on the issue, they may feel compelled to support. (i.e. "Everyone loves the avocados I painted in the bathroom when I was in college. I'm not going to change it just because one silly buyer thought it was dated!")
However, when sellers are able to view the comments alone, they will feel less threatened and thereby, will be more receptive to the input. Further, they can evaluate the comments more openly and are then more likely to act - whether it's painting the bathroom or lowering the offering price!

Regardless of whether or not you decide to go with an automated system, seek to provide the input electronically to avoid the confrontational position and nurture the opportunity for change.

Whatever you do, Don't wait
Soliciting feedback should be done immediately. The more time that passes, the less likely the buyers will remember their candid first impressions. Or they will confuse the home with others they've viewed. Feedback is most reliable when provided immediately.

Real Estate is A Cooperative Business

The REALTOR® organization was created to raise the level of professionalism in the industry and to encourage cooperation among agents.

In a stressful real estate market such as ours, it is even more important that REALTORS® communicate with one another as well as extend other common courtesies:

Check voice mail regularly and return phone calls promptly.
Confirm receipt of contracts or other important messages.
Notify co-op agents when an offer, counter-offer or any additional information will be forthcoming via fax, email or hand delivery.
Pay close attention to timeliness and follow up with all the details from the beginning to the end of the transaction.
Address problems immediately.
And, most importantly, provide your colleagues with feedback on showings.

Although central Ohio enjoyed several years of exceptional housing growth, market conditions for the past 18 months have put a strain on both agents and sellers.

It's easy to be generous when sales are plentiful. It's times like these that it's even more important for REALTORS® to live the Code. Although we have almost 7,000 licensed agents, it's a small world when it comes to a breach of ethics or professionalism.

Any agent neglecting to provide prompt and constructive showing feedback bears responsibility for damaging the perceived professionalism of the real estate industry and everyone associated with it -- including themselves!

We're all in this sandbox together!