Gotcha Guide™: How to Sell Your Home for More Money in a Faster Time Using Automated Feedback

NOTE: This article is part of the forthcoming book, the Gotcha Guide™ to Buying or Investing in Real Estate. by DeeinAustin™

Want to guarantee that your home will be sold faster than the competition? Send for feedback after showings! Well, it's not that simple. Agents rarely send feedback.

Need proof? Here's my non-scientific, completely off-the-cuff experiment:

HYPOTHESIS: Despite having a guaranteed positive return, real estate agents rarely send or receive feedback because takes too much extra time and effort. This is too bad for the seller because the process is very simple and useful.

THE PROCESS: I visited 20 houses last week within a 2-day period. I used an electronic Supra ekey so the agent can automatically see that I've visited the home.

THE RESULTS: I received 1 feedback request within 24 hours. I then received another request this week.

That's it! Out of 20 homes, only 2 agents bothered to ask me for feedback. Of the two, only one sent it within a reasonable time-frame so I could best remember the home.

THREE AUTOMATED TOOLS THAT TAKE THE EXCUSE OUT OF NOT SENDING FEEDBACK

wto Use FEedback to First, feedback has to be sent within 24 hours of the showing. Here are some inexpensive, easy, automated tools to simplify the process.

Supra iBox. These electronic lockboxes are the #1 feedback tool. They are purchased at the agent's board of REALTORS® and transmit details of the showing agent to a server. 

Supra eKey. Supra software and tools from GE provide access to electronic infrared lockboxes. The Ekey is a $25/mo upgrade that allows agents to use their TREO or other Palm OS device to access homes and send immediate feedback.

HomeFeedback.com. This automated survey tool gives feedback stats to sellers. Photos, descriptions and virtual tours give reminders of the home.

FEEDBACK IS CRITICAL, ESPECIALLY IN DECLINING MARKETS

Why is this so important?

Feedback is a smart, tactical maneuver that will get you the highest price possible in the shortest period of time. You will quickly understand why your home isn't selling and how to maximize profit.

Hands down, feedback is a win-win. 

NEED MORE TO SELL QUICKLY? CHECK OUT THESE LINKS

• Buyer Agent Bonuses are Bunk! Offer Real Incentives.
• Need to fire your agent? Here's how.
• Can your agent justify their high commission?
• About.com's guide to Home Feedback.
• Automate your feedback requests via HomeFeedback.com.
• GE's Supra electronic eKey using TREO and their iBox electronic keybox.
• Archive: Why some agents can't be cheapskates.
• What's the difference any? REALTOR, Broker, Agent.

All Rights Reserved, Copyright 2008 © Dee Copeland. 

Comments

[Dee Copeland]

The post was getting long, but I wanted to offer these tips:

TOP 3 REASONS WHY YOU'RE LOSING MONEY IF YOU AREN'T GETTING BUYER FEEDBACK
If you ask the right questions, you will know:
1. How your home compares to others. Is the price right? Condition? Curb Appeal?
2. What buyers love or hate about your home. What can you do to maximize how it shows?
3. Are buyers thinking about making an offer. Why or why not?

POTENTIAL QUESTIONS TO ASK

1. How was the curb appeal/outside appearance of the home? [scale of 1-10]
2. How would you rate the condition of the home inside? [scale of 1-10]
3. How would you rate the neighborhood? [scale of 1-10]
4. What are the best features of this home? [Please List]
5. What did the buyers think of the price? [at market, below market, above market value]
6. How did the buyers like the home in comparison to other homes they've seen? [scale of 1-10]
7. Are they considering making an offer? [Y or N]
8. Any other thoughts or input about this home? [Please List]

[Matthew Rathbun]

This is a great post. Homefeedback, is a great product. As a listing agent, e-mailing feedback is a great tool to keep in touch with your clients.

[Lance - Houston Real Estate Expert]

It's so fundamental to give feedback... I try to give feedback on every property I visit. Luckily we have a very nice system here in Houston that most agents use - www.showings.com. There are some new competitors that could be more cost effective but showings.com seems to work pretty good with automating feedback requests & compiling it into reports for the sellers.