The Importance of Feedback

Only thirty to fifty percent of buyer’s agents will submit feedback. Most agents that plan to submit an offer will never share feedback. It makes sense. Would you want to show your hand and let the seller know how you really feel about the home and how it is priced in feedback or just say nothing while you put together your plan for your offer? Some agents even say the only real feedback is an offer.

That said, there is value to feedback. However, it is not something you want to stress over on the individual basis. We have seen listings that are advertised as 600 square feet and the feedback says, “the buyer did not like the home because it was too small and it is overpriced.” In that instance, either the buyer did not take the time to look at the specs or the agent did not listen to the buyer’s needs. So is that buyer feedback really useful? Where we think feedback to be most valuable is in helping identify fixable issues: offensive smells, cosmetic repairs/ updates, or just priced too high for the current market conditions. If you are hearing the same thing regarding a fixable issue from three or more buyers, take the feedback very seriously.