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Real Estate Fight Club

29
Jan 2020

Episode 18: How Do You Provide Feedback to the Listing Agent?

January 29, 2020

In Episode 18 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over how to provide feedback to the listing agent after a showing. Hear why Monica feels it is  your professional duty to provide detailed feedback after a showing. Then hear why Jenn feels you should simply tell them your client is not interested unless you have already been in communication.

Episode Highlights: 

  • How do you provide feedback to the listing agent?
  • Monica believes that it is our job and our ethical duty to provide very detailed, very specific qualified feedback.
  • A showing is the single most important evidence that a seller has to make an adjustment or to see what's real about their house.
  • Lazy feedback or no feedback gives zero assistance to that agent and the seller.
  • Monica has been thanked for her detailed feedback.
  • You can be really honest with the seller because you have no skin in the game.
  • Monica thinks providing feedback is critical.
  • Jenn simply tells the listing agent her clients are not interested.
  • If an agent calls her, she is more than willing to be more specific about feedback.
  • Jenn feels that many agents don't read the comments.
  • She feels that communication between agents is broken because of the low barrier to entry in this industry.
  • Does it matter what someone doesn't like about a house?
  • Jenn wonders if maybe the questions should change.
  • The real question is what would prompt them to make an offer.
  • Jenn would absolutely answer if she and the other agent had been in communication.
  • Jenn is saying show her that she cares as a listing agent and she'll care too.
  • We can raise the standard of how we show up.
  • Jenn asks why she should care more than they do when it's their listing.
  • In the poll they sent out, agents said you should provide detailed feedback. 
  • But Jenn and Monica feel the agents are lying because many don't provide feedback in reality.
  • Jenn kind of likes the idea of providing verbatim feedback from buyers.
  • Monica reiterates that she feels it a professional duty to provide detailed feedback to listing agents.
  • Monica feels that it is her job to say to the sellers something they may not be able to hear from their own agent.
  • Jenn doesn’t think that all agents are professional.
  • Jenn suggests that if you're a listing agent that isn't getting through to your sellers, you can call the buyer's agent ahead of time and ask them to help you with feedback.
  • Jenn feels we should ask buyers tougher questions. Ask them what it would take for them to buy the house.

3 Key Points:

  1. Some agents see providing detailed feedback to listing agent as a professional duty.
  2. Unfortunately, many agents don’t read feedback, so other agents feel that providing very minimal feedback is fine and realistic.
  3. Providing detailed feedback can help the listing agent get through to their sellers when the home has issues that are largely being ignored.

Resources Mentioned: