Collecting, Organizing And Studying Showing Feedback Is Important, Again
Scott P. Rogers
For most of 2020, 2021 and 2022, nearly every listing went under contract quickly - often with multiple offers.
During that time, feedback on showings was collected, but it was mainly a question of...
"Will your clients be making an offer? We have three so far."
Now, with 65% of active listings of existing homes having been on the market for more than 30 days, it is important (again) to collect, organize and study showing feedback.
And as we start collecting that showing feedback, sometimes we start wondering whether all showing feedback is really actually about price...
My house is needs many cosmetic updates, but all of the potential buyers (who did not make an offer on my house) didn't provide feedback about price, they provided feedback about the need for cosmetic updates.
My house is next to the railroad tracks, but all of the potential buyers (who did not make an offer on my house) didn't provided feedback about price, they provided feedback about the railroad tracks.
My house has a steep driveway, but all of the potential buyers (who did not make an offer on my house) didn't provided feedback about price, they provided feedback about the steep driveway.
Guess what --- unless you're going to flatten the driveway, move the railroad tracks (or the house), or make all of the cosmetic updates -- it really probably is an issue of price!
If you're getting consistent feedback about your house that is unrelated to price, in almost all cases, you need to adjust the price to accommodate for that specific issue.
If the price is lower then buyers might actually buy despite the specific issue that they were complaining about.
