You have listed your property…Now what?
Your home is spotless, the landscaping is immaculate, the For Sale sign is up and now it is time for you to test the market waters. Those butterflies of anticipation can quickly give way to concerned exhaustion as the showings do or don’t pile up.
How many showings is too many showings? Why does my neighbor (who is also for sale) appear to have more showings than I? What should I expect in on-going communication from my agent regarding my listing? How do you know if I priced my home correctly? What does feedback mean? We all like to compare, contrast and worry when our listing is active. What are the right answers and most importantly…how do I know if my home will sell and if I have chosen the right agent to facilitate this?
There are no simple answers to the questions that pop up when you have decided to list your home for sale. The comparisons made are often not apples to apples and many individual factors particular to the property are involved, but rest assured with the correct agent and a devoted team you will find the time and energy will be spent to address all of your concerns and result in the successful sale of your home.
Each home is unique and the showing and selling situations that sellers find themselves in are not exempt from individuality. Timing and personal situations coupled with the ever changing market, level of inventory and number of qualified buyers out there will present varying responses to the sale and the feedback you will get from showings.
A great agent and team will asked themselves ….how can we make the home selling experience better and more predictable for our clients?
Let’s start with the Big One…COMMUNICATION! According to some statistics, over 70% of sellers will not use the same agent again to sell a home! The number 1 reason the survey found was Lack of Communication!
So then what is an appropriate level of communication once your home has been listed?
My experience has shown that clients are individual and may require varying levels of on-going response and feedback based on their needs. A key to a successful listing is for the selling agent to take the time during the paperwork process to talk about the communication protocol the office provides but also to address the expectations of the seller. It is very important for both parties to be on the same page when it comes to communication and this includes regularity and means. To ensure a successful listing and selling experience, both agent and client need to establish clear communication guidelines, right down to how often communication will occur and how it will be made (phone, text, email etc.)
The two key components that must be addressed when listing a property with regards to communication is showing schedule and feedback follow up.
Understanding client needs with regards to timing of showings is crucial. Tailoring showings with respect to client schedules, routines, and availability is key. And the feedback received after a showing is just as equally important to success.
Feedback can significantly assist both the agent and the seller in understanding what buyers may be looking for from the home and will aid in addressing any negative response upon viewing before future showings. If as a seller you are not receiving feedback on a consistent and timely basis you should quickly address this situation. It is the agent’s duty to provide these comments from showing agents and the feedback is extremely important for both the seller and his/her agent to determine where the property sits in terms of market desirability and pricing. Although, in some cases it can take up to 72 hours to hear back from a showing agent, it is still very important to receive this valuable information. The listing agent who is unable to consistently provide feedback as a core level of service should not be hired to represent you. And it can’t be stressed enough that it is your right to receive feedback after a showing as it can provide many insights into what potential buyers think upon viewing your home and can appreciably influence your home marketing plan going forward.
Now of course there are instances in which I have had sellers who have communicated to me that they “only want good feedback, no feedback, just bring me an offer”, and in these rare cases, this has hampered my ability to effectively market the home. Feedback, especially negative feedback, can provide key insights into why a home is not selling. To ignore it is to your own detriment as a serious seller!
In addition to showing schedules and feedback, there are other communication tools and agent follow-ups that can assist in ensuring good decisions are made when marketing a home. Here are some quick examples:
- General market month report from area board.
- Days on market report of a neighbourhood.
- Home improvement report with return on investment.
- Agent Sales Report.
- Macro/micro municipal/provincial/national report.
- Marketing Posts and response report.
- Days on market specific to home vertical.
Although these reports can provide good insight on the local market they pale in comparison to the consistent communication that should be required from your agent and their office. Don’t miss out when it comes to feedback from your showings and the interpretation from your agent of that feedback received!
Choose an agent that will take this Communication seriously. Choose an agent you would use again!
In our next post, we will delve more deeply into Showing feedback interpretation and just what that feedback you have received about your property really means!
