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An offer to buy is the only feedback that really matters

It's traditional for Charleston real estate agents to ask agents who are showing their listings for feedback. As part of the service provided by Centralized Showing Service which sets appointments to view most Charleston homes for sale, an automatic email is sent right after the showing would normally be over. And I just noticed one agent even include the following verbiage in their listing:

Feedback is very important for my sellers. It is an integral part of the process for all of us. Kindly respond with feedback ASAP! 

Well, I'm sorry, but it isn't an integral part of the process for all of us and here's why.

If I'm representing the buyer in a real estate transaction, I could care less about helping the seller by providing any meaningful feedback. I'm working on behalf of my buyer and representing my buyer's interests, not the seller's interests. If a seller wants feedback, it should be their agent, the listing agent, who provides it to them.

Let's talk about price. One possible feedback request might ask the agent how the property is priced.

Charleston real estate, feedback from Charleston real estate agents 

Now, if I would suggest that the property was well priced and my buyer was actually interested in that home, wouldn't I be hurting my buyer's negotiating position.

And imagine for a moment that you are not working with a buyer's agent but calling the listing agent for every home you want to see. If you are silly enough to do that, please understand this one point. The listing agent does not represent your interests and anything you say can and will be used against you. Think of it like a Miranda Warning for real estate, don't say anything without the advice of counsel. (And it's always best to put your poker face on when viewing the house.)

The only feedback that really matters is an offer, it says that you like the home and want to buy it. That's something the seller really wants and needs to hear. 

Published Monday, March 09, 2009 6:04 AM by Howard Arnoff

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