It’s a tradition from the bygone era of sub-agency.*
It’s a time suck.
It’s a feel busy – creative avoidance activity.
Most importantly, sharing constructive feedback with our competitors is harmful to our sellers, team members and the industry.
No, I’m not. Yes, I’m sober. This is my humble opinion. Here’s the planet I’m coming from
Showing Agent Feedback Consequences and Repercussions
I lifted the following analogy from last weeks blog post about Broker Open House and Sold Souls.
“Dear Rainmen, Please find enclosed a gift certificate for half-a-sandwich and our soon to be released, white 3GS iPhone. We’d love it if you would give it a test run and tell us what you think. How should we price it? Is it easy to use? How about the design, do you have any advice? We’d love to hear from you. We’re going to use your feedback to gain market share and well, let’s be honest, we’re going to swing your foolish-feedback like a Steel-Stupid-Stick and beat the living crap outta your feedback sharing, short-bus self. Thanks.”
Seriously! That would never happen in business, a competitor asking another competitor for advice and feedback. Nor would any sane business respond with feedback if asked. Right?
May I ask a question?
What would happen if every listing agent sat down with their seller(s) and had a conversation that began like?
Agent: Listen. I know you’re paying me thousands of dollars to sell your home for the highest possible price in a timely manner. I know that you know we’re in competition with other sellers and new home builders. Qualified buyers are going to look at those competing properties and yours…then they’ll make a decision…yours or theirs.
Here’s the deal. When anyone from my brokerage shows properties that compete with yours, we are going to provide constructive feedback that will help competing sellers, sellers we don’t represent, we are going to help your competition better price their properties, plus we’ll share other bright ideas for staging, merchandising and positioning. If this sounds like we’re gonna help your competition sell before you do, it’s because that’s exactly what we’re doing. You don’t mind do you?
Here’s how I think the rest of the convo might go:
Seller: Let me get this straight! I’m paying you to sell my house and you’re coaching my competition on how to out sell and out position me?
Agent: Yes. We’ve been doing it for years. It’s not so good for you…but it helps us build relationships in the real estate community. You’re OK with that, right?
Seller: No. It sucks. You’re fired.
Providing “showing feedback” that helps a competing listing agent and their seller competitively reposition their property is harmful.
It’s the same reason we don’t reveal what our buyers will pay, what our sellers will accept or the pending price. We are hired to represent the best interests of our clients – not our/their competitors.
KumBaYa Counter Point
Our business is a blend of competition and collaboration. Being helpful feels good, friendly and right. No question, positive relationships within the agent community are beneficial to everyone. Amen.
We can do both. We can protect the best interests of our clients and grow our relationships at the same time. Acting professionally and courteously, socially and in business will get the job done and we won’t be sacrificing the interest of our clients to do it.
One Form Of Feedback Is Good
Providing constructive positioning feedback to listing agents within your brokerage and office is positive.
The seller hired the brokerage. You are part of the brokerage. Your help is appreciated and appropriate.
What Say You
When I share this rabble-rouser perspective, people usually react with Ah-Ha. Ut-Oh. WTH. What ev! You’re an idiot. You don’t get it. Or?????
What do you think? How would the conversation go with your seller?
Let me hear from you. Go ahead, I can take it. I think:-)
Thanks for reading.
PS. I feel like I’ve been a bit preachy in my last two posts. Next week I’ll lighten up – sorta. Next week’s post will babble around the topic of Avoiding Creative Avoidance. I appreciate your patience.
* We were asking for feedback in 1978. It was the era of sub-agency, no disclosures, no inspections, no cell phones, no fax, no email, no copy machines and no internet.