Showing Feedback — Upper Bracket Edition

“Is the Buyer local?”

–Question on showing feedback form for a Twin Cities upper bracket home

“I know half of my marketing budget is wasted — I just don’t know which half.”

–Marketing director lament

The typical showing feedback questions — what the Buyer’s agent fields after showing a property — focus on what the prospective Buyer thought of the house:  its curb appeal, condition, floor plan, updates, etc.

The goals (besides determining if there’s any continuing interest)?

In my experience, there are three:

One.  Identify what Buyers see as the home’s strength(s), so those can be better showcased and emphasized.

Two.  Identify the home’s weaknesses — specifically, any issues (“buyer objections”) that the Seller-owner can correct.

Three.  Factoring in #1 and #2, get a sense of how close the home is to fair market value.  

Who’s the Buyer?

In addition to those three goals, agents — especially agents listing upper bracket homes — have a fourth goal:  develop a profile of the likely Buyer.

Why is that important?

Because they want to know who to market to and where.

Although foreign and non-local Buyers (often relocating executives) are less of a factor in the Twin Cities than places like New York and Miami, above $1.5 million or so such Buyers represent a sizable chunk of the market.

Knowing that that’s your likely Buyer tells you where to spend your marketing dollars  . . . and where not to.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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