SELLING? 3 REASONS YOU NEED BUYER FEEDBACK
February 25, 2017 | Richard Sites
Buyer feedback is one of the most important things you have to help you sell your house. You can argue with your real estate agent about any number of things, but buyer feedback is the most accurate and objective dialog that can help you sell. You can get plenty of it at an open house.
Let me tell you about a case that happened to me.
An Example of Buyer Feedback
I had a home listed at $1.3 million in Frenchman’s Reserve, a Toll Brothers community of large, estate homes in Palm Beach Gardens. The home was a courtyard design where the home wraps around the pool which is located in the middle of the home, not the rear.
Since the pool is open to the neighbors on one side, most communities will not allow windows with clear glass on the second floor of the neighboring house. But this happened next door to my listing and there was no vegetation between the houses to block the view.
The buyer feedback was always the same: No privacy at the pool.
So the owner and I argued about this after every showing. Price was not the issue since we were getting showings, but there was something keeping buyers from making an offer. The issue was lack of privacy.
When the owner finally relented and installed a row of barrier palms, the house sold in 3 weeks without lowering the price.
Instead of arguing with me, he was really arguing with buyers who were telling him exactly what was keeping the house from selling.
So, here are 3 good reasons you need buyer feedback.
Buyers Know More Than Sellers
This is the one of the hardest things for sellers to understand. But buyers are out looking at homes all day, they know what the competition is offering better than a seller. Take the buyer feedback and adjust your value proposition accordingly. The feedback back is free but the info could be priceless.
Buyers Can Point Out Deficiencies
What appealed to you about the home and made you purchase it may not appeal to others. The market for homes is not the same as when a seller originally bought the house. And with hundreds of new homes coming online, their is even more, and new, competition. The feedback is free but the info could be priceless.
Buyers Are Not Emotionally Attached to the House
Emotional attachment is one of the things that can kill a sale. I recently wrote about this in The Perfect Storm. Buyers do not care about all the love, care and attention you have given the house. This is why sellers must never, under any circumstances, show the house. It’s OK to be present during the showing to answer questions, but you have to stay out around the pool or in the back yard.
Otherwise, you bore buyers to death with all the little details that they simply don’t care about.
Buyers, the people with the money, are willing to give you free help getting your house sold…if you will listen. The feedback is free but the info could be priceless. Remember: Hope is not an effective selling solution.
If you would like to have a no hassle conversation about getting your house sold quickly and smoothly, contact me directly at 561.762.4073. I have been helping sellers move forward with their plans for 13 years and can do the same for you.