Gaining feedback from prospective buyers is vital for real estate brokers and their clients a new report from RE/MAX says
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Gaining feedback from prospective buyers is vital for real estate brokers and their clients a new report from RE/MAX says.
Finding out why a home has failed to attract offers isn’t always easy, the report from the firm’s Northern Illinois Network says, as buyers are often looking at multiple properties and giving feedback isn’t their top priority.
But Peggy Alexa of RE/MAX Synergy in Frankfort, Ill says that getting that information can really help sellers improve their chances.
"Especially if a property has condition challenges, we can take steps to improve the home's condition based on what buyers say, or maybe we need to adjust the price," she said.
That doesn’t mean the feedback is always something that can be acted on; for example the layout of a house may be a problem for a buyer but isn’t going to be changed, although the price could be adjusted.
"If a home is priced right and in great condition, most of the feedback will be complimentary, which is great, but getting an offer is the ultimate goal," Alexa said.
Terrance Muse of RE/MAX Vision 212 in Chicago added that in the current market there should be concern if a home has not attracted offers within 3 weeks.
"If a house isn't selling, the seller will want to know why, and often the sellers will place a higher value on their property than the market will support," Muse explained. "But if we're getting consistent negative feedback about the price, sellers usually will be willing to re-evaluate."
The RE/MAX brokers said that sometimes negative feedback from prospective buyers can reinforce advice that they had given to sellers that was not acted on.
"Our feedback was that the house looked dark and dated. What that did was reinforce advice I'd already offered about staging the property and improving the lighting. With that additional input, the sellers were more willing to act on those recommendations," said Elissa Palermo of RE/MAX in the Village, Realtors, in Oak Park, Ill.
Finding out why a home has failed to attract offers isn’t always easy, the report from the firm’s Northern Illinois Network says, as buyers are often looking at multiple properties and giving feedback isn’t their top priority.
But Peggy Alexa of RE/MAX Synergy in Frankfort, Ill says that getting that information can really help sellers improve their chances.
"Especially if a property has condition challenges, we can take steps to improve the home's condition based on what buyers say, or maybe we need to adjust the price," she said.
That doesn’t mean the feedback is always something that can be acted on; for example the layout of a house may be a problem for a buyer but isn’t going to be changed, although the price could be adjusted.
"If a home is priced right and in great condition, most of the feedback will be complimentary, which is great, but getting an offer is the ultimate goal," Alexa said.
Terrance Muse of RE/MAX Vision 212 in Chicago added that in the current market there should be concern if a home has not attracted offers within 3 weeks.
"If a house isn't selling, the seller will want to know why, and often the sellers will place a higher value on their property than the market will support," Muse explained. "But if we're getting consistent negative feedback about the price, sellers usually will be willing to re-evaluate."
The RE/MAX brokers said that sometimes negative feedback from prospective buyers can reinforce advice that they had given to sellers that was not acted on.
"Our feedback was that the house looked dark and dated. What that did was reinforce advice I'd already offered about staging the property and improving the lighting. With that additional input, the sellers were more willing to act on those recommendations," said Elissa Palermo of RE/MAX in the Village, Realtors, in Oak Park, Ill.
