Nov 3, 2020

Feedback // Data Points or Trends??

iStock_000011817723Small‘One is a data point and two is a trend’ is a statement oft heard at One South.

As staunch believers in pointed feedback (both sought and given), we feel that we can more accurately arrive a the correct price of a home in the shortest timeframe and maximize value for the seller.  This is not to be confused with ‘selling your home fast,’ rather it is to be interchangeable with ‘selling your home appropriately‘ and selling it appropriately requires feedback.

Understanding the value of feedback is also more art than science.  Feedback truly becomes valuable when it is qualified.  The feedback from an agent who sells less in a neighborhood than one who sells often should be discounted.  The feedback from a buyer on their first day out also counts less than someone who needs to be in a home in the next 45 days.  Most importantly, the feedback from an agent whose buyer bought elsewhere in lieu of your home matters most.  Ultimately it must always be remembered that as a seller, you do not set the price of your home, the market does.  It is never kind but it is always correct and it will tell you all you need to know if you are willing to listen.

Our project experience means that we are accustomed to working in environments where the sellers demand data.  Having represented developers, builders and architects, we understand the need to communicate feedback from showings.  Data, in the form of feedback, must be noted, qualified, tracked and understood to be valuable.  While the volume of feedback will be less in a single home than in a multiple unit project, the principles remain the same.  When an agent tells you that the buyer didn’t like a particular aspect of the home, a good agent will probe and find out if it is the objection of a potential buyer or someone that was never really a buyer.  A good agent will get you valuable information.

Ask your agent how they qualify feedback and ask to see some of their communications.

It will tell you what you need to know…