Number one complaint of sellers
One of the biggest complaints sellers have with their agents is “I never hear from you!” You put a sign on the yard, enter me in the MLS, then you disappear… right?
What happens when nobody calls to see the house? A week goes by, you’re placing ads, no calls. Another week, no calls. Then a showing or two, with no feedback from the agents, and you start to get uncomfortable. Maybe you call to keep in touch… but from what the public seems to think… you didn’t call.
How do you call when there’s no news?
It’s hard calling or emailing to say “Um, I have no news. So what are you up to today?”
Here’s a way to keep them in the loop and make them think you’re thinking of them 24/7.
Most MLS systems have a way to can enter a buyer prospect into your MLS login, set up their search parameters, and have them get instant emails every time a new listing hits that matches their needs. Or a price change, or comes back on market. We all do it, right?
Turn that tool on its head
Why not do it for SELLERS too? I recently began doing this and it works great!
Set up your sellers as a prospect, and enter in search criteria showing competing properties. That way, whenever a new listing hits the market, they’ll know. Neighbor had a price reduction? They’ll know. Of course, also email them solds when applicable.
Sellers LOVE it!
I’ve been doing this for a few months, and sellers love it. I had a client send me an email this week that his neighbor just reduced his price, so he wanted a price reduction too. A seller wanted a price reduction. Hello? What planet are we on? If these results keep going, I’ll be thrilled!
It’s an easy way to turn an idea on its head, and use it UNLIKE other agents. Everyone uses it for buyers… now try it for your sellers!
Bruce Lemieux
October 21, 2011 at 9:43 am
This is an excellent thing to do for sellers. I've done this for a while and find that weekly updates are better than daily updates (provided your MLS gives you the option). Sending out this 'competition alert' on the same day that showing feedback is given works well.
And since homes can be very different online than they are in person (no, really), it's best if you can preview competing homes in person. So if you're primarily competing with five other homes, you need to know if they are diamonds or dogs and advise accordingly.
Debbie McBee
October 21, 2011 at 10:01 am
Erica ~ You are brilliant! I had a really "DUH" moment there!
Pat Haddad
October 23, 2011 at 2:54 pm
Great idea Erica! This is a great way to keep sellers updated ongoing and allow them to play a more active role in making decisions like price reductions!
Greg Lyles
March 7, 2012 at 1:46 pm
Better yet, why not compile all of the site visits, video views, phone calls, follow ups, competitive activity, etc. into a report that you can send them every week? When every activity you are managing is being tracked and reported it shows the seller that you are not sitting idly by waiting for a buyer to call.