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Friday, October 7, 2011

DO YOU LIKE IT SWEET?

When it comes to hearing feedback about your property, do you have a sweet tooth? Would you rather your agent passed on the buyer feedback exactly as it was received, or would you rather hear the sugar-coated version?

One of the challenges of selling a property is hearing constructive and sometimes negative feedback about your property. How dare buyers criticise your beloved home or insinuate that it is overpriced.

It can also be difficult hearing about the actual state of the market, especially in slower times when prices may be dropping.

The situation isn’t helped by agents who would rather be liked than fulfil their professional obligations. They tell owners what the owners want to hear, perhaps out of a fear of rejection.

But this isn’t helping anyone. How can sellers make informed decisions about the sale of their property if they don’t know what’s really happening in the market or what buyers are really saying about their property? Anything other than the truth will compromise the communication between agent and seller.

Marketing a property is a dynamic process and buyer feedback is critical in steering the campaign towards a successful outcome. Any distortion of the truth, either intentional or unintentional, will be detrimental to the sale of the property, extending its sale time and risking overexposure.

For sellers in any market, clearly a strong dose of reality is almost always the best medicine. Even if a spoon full of sugar helps to make it go down.