Is Buyer's Agent Feedback crucial to selling your Franklin, TN home?
October 23, 2017 | Mike Grumbles
Homeowners that have their home listed for sale get up each  day and get the kids ready for school, prepare breakfast and then they have to prepare their home if it has showings scheduled that day.  Preparation could mean just turning on the lights for some but in many cases it means picking up toys, and running the vacuum over the carpets, making beds, putting the laundry away, wiping down the counters and putting dishes in the dishwasher, and taking the family pet to the neighbors for the day, and on  and on.  It is an exhausting daily routine for a busy family that is living in their home and also marketing it for sale.  

The Buyer's Agents are busy planning a day of showings and in the current tight Franklin market for the average priced home the inventory is low so the showings are now more a daily occurrence with fewer homes on the itinerary.   When inventory gets as low as it is in Franklin and the entire Williamson County area really buyer's agents have to stay closely tuned into new listings on the local MLS called Realtracs.  They don't want to miss a new home that meets a buyer's criteria and they have seen all the other homes already .  So daily showings are a regular occurrence.  Showing a property involves scheduling with the buyers a flexible time slot and then calling wither the listing agent, their office or a showing service to request the buyer's preferred time.  In some cases this call can be avoided by doing it online or  via a mobile app if the list agent outsources to a good showing service.  The next step is awaiting proper feedback from the showing service that the sellers have agreed to a certain timed appointment for the showing.  Once that call, text, or email arrives that the seller agrees then the agent notifies the buyer of the itinerary for the day in case a few homes are on the list and maps them to get the best logical flow.

The seller is anxious and encouraged by the showing with their house now "Show-Ready" and in return for their kind acceptance of the buyer's agent and their clients intrusion into their daily routine and their preparation of the house they would like to know what the buyer thought of the property.  They want to know the agent's thoughts as they have likely seen similar homes and should know the market around this home.  They also want to know the buyers impression of the home as after all they are the ones stepping up to the plate to pay for a house and want to know if they are interested in the home or what turned them off if they are not interested.  This has been a tradition with agents for decades to provide feedback to sellers and their agents as a courtesy after showings.    But is the feedback necessary to sell a home in the Franklin TN Real Estate market?     Does the feedback help the seller?  Do agents customize the feedback questions to match to the property, or just used canned forms? 


This got me to consider what was occurring with the listings and our feedback responses at Gray Fox Realty.  I looked at the past 62 showings and found that of those 62 showings here is the breakdown of the responses.  Our feedback system emails the agent (also notifies via the app if they have it installed) about 1n hour after the scheduled showing and also repeats that daily for 3 more days if they do not respond to the email.  The system does allow the listing agent to see who has and has not responded and provides contact information so that a call, text, or manual email can be sent requesting feedback.

42% of the feedback requests were answered
37% opted out of receiving emails from this sender (required by CAN SPAM laws to allow them to unsubscribe)
15% ignored the emails 
6% are still in the waiting period and have received at least one email

The charts below show what kind of results can be provided to the seller when feedback is given.

When agents do not provide feedback it is obvious that sellers have come accustomed to expecting it as they will call to inquire about the feedback.    But it feedback really necessary in the current Franklin housing market to get homes sold?  I would contend that it is not a requirement to sell a home.  If the buyers are considering it or it makes the top three homes that they have seen, the buyer's agent will be in touch with the listing agent to inquire about further details and inquire if any other offers have been received.    Those are strong indicators that this home is the right home for this buyer and then if it doesn't end up being the right home that they choose to make an offer on then knowing why is more valuable than that earlier feedback.   Most forms ask is the price right and agents do not always have the market research nor should they do detailed market research on a property's value if their clients are not interested in pursuing it.    As agents we have, like so many other times, created this expectation that feedback is just part of the sales process, but maybe we should rethink it and find a way to eliminate the headache of feedback requests clogging up our email inboxes.    But until that time, I do wish that agents would be courteous enough to provide feedback on homes that they tour if asked for it.      And if as an agent you are asking for feedback on y our listings don't opt out of other agents feedback emails, that should seem like a simple REALTOR ethics policy to treat others as you wish to be treated. 






 
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