Feedback
“Okay,” I finally tell the other realtor after two solid minutes of back and forth phone chatter. “You’re right. I’m wrong. You win the argument. But guess what…? We’re still not buying the house.”
I try to be nice. I really do. But sometimes my fellow property slingers just touch on that last raw nerve (I think we all know which one I’m referring to) and I say something mean. One agent even called me “Meano Geno.”
“Thanks for the feedback, Meano Geno,” she snapped into the phone.
“You’re not very welcome,” I muttered back into the dial tone.
I’ve written about this before; listing agents who, within hours and sometimes even minutes of a showing, ring me up for feedback. And occasionally, they don’t even wait for everyone to leave the premises. One recently minted licensee strategically positioned himself in the foyer as my clients and I were scurrying to safety through the living room. Blocking the front door with his presumptuousness, he posed to us, with the toothy despondence of a Ford sales trainee, the universal cliche of the day…
“What do we have to do to earn your business today, sir?” he asked, looking right past me and my client’s wife, going straight to the perceived decision maker. The husband looked at me. I looked at the wife. We paused for a moment of silence. I reached into my shirt pocket and took out the business card of an agent we met an hour earlier at a different showing; another panter. (Pant”er\, n. One who pants. –Congreve.)
“Here…call me later for feedback,” I said as we all inched past him, close enough to catch a whiff of that new car smell cologne he was wearing, and slipped out the front door in single file, toward higher, more residentially improved ground. Our new toothy friend stared down at the gold embossed Century 21 card for a few seconds then looked up at us before finally calling out toward the sidewalk…
“Thank you Barbara!”
Me too, me too
Yes, I know. I can be glib at times. And the truth is, I am hardly ever without a half dozen or so of my own problematic listings that need to be sold yesterday. The difference between me (along with those like me–us, we…) and them (the Panters) is, we understand that there is little or nothing we as listing agents can do or say that proper pricing and perfect timing can’t trump.
Lockboxes are the exception rather than the rule here in Chicago. (I keep one in the glove box of my car only because we have strict gun laws and I need something metallic to defend myself with in case of a car jacking.) It is understood that unless the property is a short sale or foreclosure, a listing agent or ‘team member’ will accompany most showings.
I personally don’t have a team member nor do I belong to an actual team (or even own a uniform) so I always show my own inventory. I like to arrive early at the appointment to open shades, turn on lights, etc; greet my visitors at the front door (cordially, of course); hand them a professionally designed and printed marketing piece; step aside… and let St. Joseph do his thing (Ha,ha…I mean, LOL). The way I see things, divine intervention doesn’t need me jumping in the mix with my smart, meano mouth. I suppose, in a way, I am a lockbox–a human gatekeeper who simply opens and closes doors with little or no judgement and no ‘jones’ for immediate feedback. When the contract doesn’t show up in my e-fax mailbox, that’s all the feedback I need.
Only if you’re buying
“Yes, it is a buyer’s market…” I answer the other realtor as she exits one of my more aggressively priced listings with her client. I suppose little catch phrases like ‘It’s a buyer’s market, you know’ are often times just nervous blurts from less experienced associates who don’t know me by my nickname, Meano Geno. I try to be nice but, admittedly, have little patience for unoriginal thoughts from dull minds. These real estate times call for creativity, not cliche.
“…but only if you’re buying.” I add.
“What?”
“It’s a buyer’s market… only if you’re actually buying,” I say, having gone through this same exchange on more than a few occasions in recent months.
“You’re priced too high,” she says.
“Write an offer.” Me.
She remains silent. I’ll never hear from her again unless of course, I call for feedback, which is a moot point, as the place will have already been sold as Hell would have already been frozen over…on the same day that, along with a whole lot of other improbabilities I’ve declared throughout my life, ever happens.
M.G.
Erion Shehaj says:
Brilliant!
July 12, 2008 — 11:38 am
Dan Sullivan - Denver Real Estate says:
I am always surprised when a buyer’s agent says “They LOVE the house, but it’s priced a little high.”
The agent should either:
1. Write an offer at a price they think is fair
2. Not be looking in that price range in the first place
“It’s a buyer’s market…only if you’re actually buying” – BEAUTIFUL.
July 12, 2008 — 1:35 pm
Ann Cummings says:
I love the “It’s a buyer’s market…only if you’re actually buying” comment – might have to use that one myself.
July 12, 2008 — 2:00 pm
Bawldguy Talking says:
Geno — The more I read you, the more it’s obvious we’re a lot alike. Except I’m not in your league when it comes to prose.
July 12, 2008 — 2:11 pm
Jim Duncan says:
“Blocking the front door with his presumptuousness…” priceless.
July 12, 2008 — 3:56 pm
Anonymous says:
When they start with the “It’s a buyer’s market, you know” comment, just give them a Yogi Berra quote and watch them squirm over what it means.
Buyer’s agent: “It’s a buyer’s market, you know.”
Meano Geno: “Thanks for your comment. You know, ninety percent of this business is half mental.” (For Yogi’s quote substitute ‘game’ for ‘business’).
I bet Bawldguy has a couple of good ones to run up the flagpole, and I suspect your delivery may be as sweet as Koufax…..but just a wee bit meaner.
July 12, 2008 — 4:28 pm
The Harriman Team says:
Amen, Geno. Like Balwdguy, I feel you and I are kindred spirits. I can’t tell you the number of times we’ve been talking to a clone of Mr. Ford Sales Trainee and he says something to our client, not us (one of my pet peeves from a recent post of mine)and my wife (bless her, I believe she’s a Saint) handles the issue with her usual coolness, while I wish I had a can of Mace to empty into his face. THAT would be such a righteous feeling…
And Dan, I agree also that, if your clients can only afford $250K, why in the name of all that’s holy are you looking at my $350K property that is priced UNDER market, not over, thank you very much. I so much want to go all Lewis Black on them and THAT would be a righteous feeling, too. Like Billy Crystal used to say, “Don’t get me started!”
July 12, 2008 — 4:40 pm
Bawldguy Talking says:
“What do we have to do to earn your business today, sir?”
You can hop back in your time machine and leave 1958 Mayberry for starters.
Seriously, I was at an open house when first in the business, when something like the above happened. It wasn’t to me though. I was inspecting the open house alone, when I see another agent w/clients, headin’ for the door to leave. Can’t remember what the listing agent said exactly, but it was addressed to the clients. The word ‘feedback’ was used. The buyer’s agent very quietly said, “Here’s some feedback for ya. You gonna move out of the way by yourself, or do ya need some help?”
End of dialogue. 🙂
Whatever happened to plain old professional courtesy?
Favorite Yogi-ism?
Hey Yogi, what time is it?
You mean right now?
July 12, 2008 — 5:25 pm
Geno Petro says:
Wish I was near a computer to join in. On my iPhone now.
G
July 12, 2008 — 6:30 pm
Jeremy Hart says:
Barbara – err – Geno … loved that. You have a way of telling a story that’s like no other, always love to see a Meano Geno post come across the blog reader.
Understanding that markets are different, how do you advise Sellers of changes that need to be made to the listing if you don’t solicit any feedback from the buyer agents? Like many of us, I’ve been on the driveway when the listing agent has called for feedback, which isn’t the time I’m ready to offer my clients’ thoughts. As a listing agent though, isn’t there some value in being able to tell your Sellers what buyers are saying? How do you approach that with your Sellers?
July 13, 2008 — 7:22 am
Benjamin Dona says:
Great post MG!
The one’s I love are those agents that not only call immediately for feedback, but also waste my time by trying to “sell” me on the property. Like anything I (or they) could say will miraculously make the client buy a property that does not meet their needs.
July 13, 2008 — 8:19 am
Geno Petro says:
Thanks all. To be completely forthcoming, if a buyers agent has brought the same client through one of my listings a few times and I observe them mentally placing furniture, hosting dinner parties, etc…and after a day or two, no offer comes in–then I may give a call and ask ‘What up?’
Having said that, I don’t really need ‘feedback’ from a property I properly evaluated, priced, and listed. I will however, do what I can to bring an offer to my client—short of panting, that is.
July 13, 2008 — 8:33 am
John Sabia says:
Great article – I think this is a pet peeve of most selling agents. I love the “thank you Barbara” That is too funny.
July 13, 2008 — 9:40 am
Doug Quance says:
I’m with John – the “thank you Barbara” part killed.
July 13, 2008 — 10:46 am
Bob says:
feedback comes in the form of action – you get an offer or you don’t.
July 13, 2008 — 1:21 pm
Sue says:
“Thank you Barbara!”….thats classic! Did your clients pick up on that?
I find it annoying when Listing Agents call me on my cell for feedback, never mind block the door! Not to side track, but I must comment that another tactic I am seeing lately is some “desperate” Listing Agents will knock other homes (that you’ve likely shown) infront of your client by taking hits at the location or school to make their property “appear” more desirable. This is totally out of line and in my opinion very poor professional courtesy.
July 13, 2008 — 2:17 pm
Geno Petro says:
Sue,
Unfortunately, the Sea of Desperation seems to be a little choppier than usual these days and its inhabitants (realtors, flippers, lenders…), a little more treacherous as the commission dollars get stretched thinner and pay days, pushed farther and farther out. Many sellers are stricken with panic or are at the very least, coping with the possibility of losing significant money on a house(property, stock, whatever..) they once considered a solid gold nest egg.
The last thing anyone needs is moronic representation on either side of a real estate transaction. I am constantly checking and re-checking my professional motives, actions, etc.
Feedback anyone?
July 13, 2008 — 2:36 pm
Vance Shutes says:
Geno,
I’ve met you, in person. You’re anything but mean. A misnomer, if ever I saw one. Keep smiling’ dude.
July 13, 2008 — 3:15 pm
Geno Petro says:
Vance…I was being extra nice that day in PHX. It was 110 degrees and I had food poisoning. (LOL, to be sure).
“feedback comes in the form of action – you get an offer or you don’t.” Bob…yeah.
Benjamin…that’s the point I think I was pretty much trying to make.
Jeremy…I believe the actual lack of a physical offer after a reasonable amount of showings is proof enough for a price reduction. Like I mentioned in an above comment, I will have some meaningful discussion with those who have come back for second and third showings but in this fairly geographically tight market (Chicago) I feel it’s MY responsibility to know the entire inventory surrounding my listings and the only feedback my clients really need is, in most cases, from me personally….or whoever they hire after they fire me!
July 13, 2008 — 4:18 pm
Tom Bryant says:
Geno:
I typically send an e-mail to the agents who show a listing, and ask for the buyer’s reaction to the property. That way, we’re not imposing on the showing agent with a phone call, and we often get some really helpful comments from the front lines. It’s a short, personal e-mail, not one of the newfangled “feedback” services popular with the big teams in our area (checking boxes to indicate how the agent and prospect felt about price, interior and exterior condition, etc.).
One benefit of this is that when the reactions are negative, it’s from an independent third party – not me.
Terrific job, as usual.
July 13, 2008 — 5:32 pm
Ken Smith says:
Geno why is it that city agents never use lock boxes? Just don’t understand it, life is so much easier and clients are SO much more comfortable when the listing agent (or worse the owner) aren’t involved in the showing.
As for agents making stupid comments…we all have made a few of them.
“One benefit of this is that when the reactions are negative, it’s from an independent third party – not me.”
Tom I agree with this. Think that many sellers need to have the feedback to actually believe what they already know.
July 13, 2008 — 9:44 pm
Geno Petro says:
Ken, It’s different in different areas, I’m sure… but there are so many realtors, and the competition for listings within the northside of Chicago is such, that a lockbox is only used on the least attractive or vacant properties or by suburban agents living miles away who have a city listing.
The thinking here is if an agent is going to take a $600,000 listing and make $15,000 then the least he /she can do is accompany the showings. I personally don’t know anyone I’ve listed over the years (since 2000) that felt SO much more comfortable with their property on a lockbox—especially new construction developers who demand extreme attention to their projects–rather than having their agent personally show. But I’ve really been moving away from the List side of the business these past couple years so who knows…
One last thought on feedback: The inevitable question on every Feedback questionaire I’ve ever received is: IS THE PROPERTY PRICED TOO HIGH, JUST RIGHT, TOO LOW?
Come on.
“Gee, I think you’re priced just right…no wait, on second thought, you are way too low. I think I’ll advise my clients to offer OVER List Price because….well, just because.”
Answering any question on a List side feedback form is indirectly giving professional advice to someone who is not my client–in fact, they are another agent’s client.
But really, as most everone who reads me knows, there is a degree of tongue in cheek in most things I post.
And lastly, if I were anywhere near the league of a Russell Shaw as a lister, then I’d probably have a whole truck full of lockboxes and stock in the lockbox making company as well. But for now, I stand by my cynicism.
July 14, 2008 — 7:54 am
Judy Orr says:
I sold a couple homes downtown and on the near north side and couldn’t believe that agents had to meet us at almost every property. If I had to do that with my listings that’s all I’d be doing! I’d have to hire a human lockbox!
I also use an e-mail feedback system and I answer those e-mails from others. I usually don’t check mark any of the price choices. But I do offer constructive feedback.
On Satuday I got to my home office after 7 showings and went straight to my e-mail, answering feedback while the homes were fresh in my mind (I even take notes).
After hitting “send” on one of those e-mail requests I get a phone call from the listing agent. I told her I just sent her the e-mail feedback but I must have been in a good mood (or maybe I had one of my talkative streaks) and related the feedback to her. Most of the time I’ll be curt & say I already e-mailed it to you.
I wrote about this on AR (about being stalked by listing agents). My piece was about agents that would continue calling back after receiving feedback and/or being very defensive about their listings. It was interesting to see some negative comments about what I wrote defending those listing agents just trying to work for their sellers. They turned me off so much I wouldn’t want to have a deal with them! That’s working for their sellers?
July 14, 2008 — 8:48 am
Ken Smith says:
Geno I wasn’t saying the seller is more comfortable, but that the buyer is more comfortable. Really that is more important then what the seller thinks IMO. If the buyer can relax and walk the home, make comments freely, and not worry about the seller or seller’s agent listening to every word things go smoother.
Had a listing agent accompany me to a showing the other day in the burbs and the buyer hated it. When we walked out she said that she didn’t feel comfortable with the agent there. The buyer was whispering any comments to me as we walked the home. Worse the agent kept attempting to “help” by pointing things out that she felt would be important to my buyer…never ASSume you know what my buyer is interested in and stay out of the way.
BTW, that buyer bought another home in the same subdivision that IMO was a lessor home for the same money. Tried to get my buyer to understand that, but she kept saying that it just didn’t “feel like home”…same model with more upgrades for the same price didn’t get sold 100% due to the listing agent being there IMO (at least due to being in our way).
Builders are another animal. There are options and other reasons that a seller’s agent is useful for being there. I run 3 condo conversions for a total of over 500 units with my team so I understand the value of having representation for this situation. The buyers agents don’t know which units are available when, what options cost, what upgrade packages include, locations premiums, and so on.
It is my job to get homes sold so if there is a legit reason to be there like new construction or conversions then we are there, but to show up on a resale just in an attempt to justify my commission isn’t going to happen. Personally each and every time I go to show homes in the city I end up with properties that my buyers picked out that they really wanted to see that we don’t get into due to the listing agent not being able to show up at the time my buyer is available, how this is a good thing I don’t understand.
BTW, Geno this is nothing against you…just something that has really annoyed me over the years of selling real estate in the Chicagoland area.
July 14, 2008 — 8:51 am
Geno Petro says:
Ken,
“…the buyer is more comfortable. Really that is more important then what the seller thinks IMO. If the buyer can relax and walk the home, make comments freely, and not worry about the seller or seller’s agent listening to every word things go smoother.”
I totally agree with this. I do step aside and stay in the background though, just to keep an eye on the fine china jewlery boxes!
G.
July 14, 2008 — 9:26 am
Sue says:
FSBOs (sellers showing house), sellers home during a showing and/or Listing Agents accompanying…my buyers do not like it at all. I showed a home the other day and the seller was there. He insisted on taking us thru the home and pointing out every little thing he did to improve the home. My buyer was very uncomfortable and couldn’t wait to get out of there. We would probably still be there if I hadn’t said that we had to get going due to another appointment…3 times.
July 16, 2008 — 6:53 am
Geno Petro says:
Sue, I get it. I’m just saying: in Chicago, sellers expect personal showings for the most part. As I mentioned above, I personally am not that gabby during a showing. But the door swings both ways. I’ve heard some pretty banal banter coming from the lips of Buyers agents. But as Ken Smith states in his comment: “As for agents making stupid comments…we all have made a few of them.”
Actually, Greg Swann’s idea of disintermediation is the most appealing to me. I truly believe everybody should be able to buy and sell their own property at will without intereference–if they choose to.
July 16, 2008 — 12:15 pm
Sue says:
“As for agents making stupid comments…we all have made a few of them.”
>>agreed. The old open mouth insert foot. Usually not realized till the words are out.
July 16, 2008 — 4:26 pm