Recently there was a blog post on ActiveRain, an on-line hangout for real estate professionals, from a real estate agent who basically was complaining that other agents were not providing him feedback for his listings after showing the property. The writer suggested that agents who didn't leave feedback lacked professionalism.
I could not disagree more.
If my client is interested in a home, I don't provide feedback. Why would I tell a listing agent anything about what my client is thinking and possibly compromise that buyer's negotiating position? My obligation as an exclusive buyer agent is to my client, and my client only. Period.
Even if my buyer isn't interested, I am only going to provide very general feedback, i.e., the layout didn't work for the buyers. If my buyer shows any interest, then I generally do not provide feedback, unless I think it might actually help with a future negotiation.
Some other real estate agents commented on the post about cooperation between agents, and suggested that is a reason to provide feedback. Although, I think we all should act professionally towards each other and be courteous, I have a fiduciary responsibility to do what is best for my buyer, and I just don't see how providing feedback to a listing agent helps my buyer who may want to make an offer.
My only goal is to get my client the best price and terms possible.
When working with a real estate agent, they will be able to give you a sales history of the neighborhood that you are considering. How long do homes typically stay on the market before selling? Historically, what percentage increase in home value has the neighborhood experienced? Is the overall condition of homes in the neighborhood good, or is the area showing signs of decline? Keep your eyes open and inquire about these types of trends.
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Often I’ll hear agents are collecting feedback to help them convince their seller to declutter, stage or price reduce.
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