March 23, 2011
Why I don't give feedback
I don't like giving feedback to listing agents. I don't seek it out from agents that show my listings. You can read an earlier post to understand why it isn't important from the seller's perspective - but let me tell you why, as a buyer's agent, I don't give feedback.
It's not in the best interests of my buyer.
I have a duty of confidentiality and loyalty to my buyer. To me this includes how they feel about a particular property.
Let's say they love a property. Let's say I share this with the listing agent. Let's say I am going to try to negotiate a purchase of this property for my buyers. Do you think I've put them in a weak or a strong bargaining position. Pretty weak I'd say, after all they love it and the sellers know!
Lets say they don't love it, but think it might work. So I tell the agent this. We keep looking and can't find anything else so we come back to it. Do you think that their bargaining position is improved or diminished - diminished obviously as there is nothing else on the market that will work any better for them and the sellers know!
Loyalty to my buyer alone is reason enough not to provide feedback. But there is another reason.
It's not my job to help another agent sell his listing. In fact, I'm better off if he fails, because now it's a listing I might get. If it presents poorly, is marketed poorly or is priced poorly that is the listing agent's mistake, why should I fix their mistakes?
Over and over I have heard that the seller just needs to hear it from other agents and then it will be priced right, cleaned up, deloused, whatever other excuse for the property not selling. Sorry, that's why they hired you. If the listing agent is too weak to do get the things done that have to be done in order to sell the property then too bad, no I'm not going to help you. Did you want me to do opens for you while you take a vacation as well? How about fixing up that feature sheet or having my photographer take a few shots for you? Suprisingly - still no.
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