Buyer feedback vital in property

In today’s market, when the volume of property sales is down, the chances of your house taking longer to sell is higher and there is a lot of choice, buyer feedback becomes increasingly important.

In order to sell your property it’s important to ensure you are kept informed of market feedback in order to ensure you can respond appropriately, whether that’s by taking steps to improve some aspect of your home or grounds, or whether it’s to review the pricing and/ or marketing strategy.

While it can be difficult to accept potential buyers’ negative feedback it’s important to realise that your relationship with your sales consultant must be based on honesty.

Negative or non-buying feedback can be divided into two categories:

• Objections – things you can change, such as worn carpet, inadequate fencing or a dated bathroom.

• Conditions – things you can’t change, such as location or land size.

With consistent objections, discuss these with your sales consultant and consider fixing or changing things in order to address the points raised while not over-capitalising. If you do end up making major changes a renewed marketing campaign is sensible to reintroduce your property to the market.

Meanwhile, with consistent conditional feedback it means that to attract offers, the price of the property needs to be adjusted until the feedback becomes positive.

Some sellers think that buyers are just looking at the wrong property and sooner or later, a buyer will come along who ‘doesn’t mind’ the busy road or lack of near-by amenities for example.

However, buyers are comparing properties with others they have seen in a similar price bracket.