How will feedback from the marketplace and effective communication MAKE of BREAK your selling process? In this video, I walk through the 5th step of our Seller plan, which details how you can leverage feedback and communication from the marketplace to get to the promised land… achieving a successful sale.
Let’s get to it…
First, It’s Critical To Listen To Buyers & Co-Agents Post-Showing Feedback Because:
- Feedback is the marketplace responding to your offering.
- And comes in many forms, including:
- Real-time feedback in the form of surveys from buyers and their agents.
- Market updates of competing properties coming on the market, going under contract, and closing.
- Volume of showing activity on your property as it’s being marketed.
The most important feedback, though, is whether you are receiving offers or not.
So, What Should You Do With This Feedback?
- Understand that buyers will compare your property to others in real time.
- Recognize that on your way to a successful sale, you may need to make adjustments based on the feedback from the marketplace.
- And you and your agent must dig into why you’re not winning over the competition.
The Next Key Consideration Is Challenging Because It Involves Being Willing To Consider Feedback Openly & Avoid Becoming Defensive.
Most people HATE criticism, and their natural response to any form is to retreat from it, become defensive, and/or sell themselves on why the criticism is wrong or invalid.
With respect to the feedback received from the marketplace, it’s best to:
- Recognize that the opinions of buyers and buyer agents matter– These are the customers you are trying to impress! What happens to any company that ignores customer feedback? They go out of business.
- Listen dispassionately and consider.
- Look for consistency and trends in the feedback you’re receiving to inform what action you should take to affect your outcome.
In summary, if you are receiving feedback from buyers and buyer agents, that’s good news because you don’t have to guess what they were thinking. However, the key is to look for the most honest feedback and decide what adjustments must be made.