Wednesday, August 8, 2007

Did You Get My Email?

When marketing and managing a listing, one of my priorities is to keep my sellers informed. I typically contact all my sellers through email bi-weekly. I let them know what the market for their property is doing. Has a similar home sold? Have similar homes had price reductions? Is there new competition? Have any expired? I may suggest a new strategy or pricing to help get their property sold. If there is a showing within the two week time frame, I will contact my sellers as soon as I get feedback from the showing agent, and let them know what the buyers thought. It is a lot of work, as I have about 60 listings. An interesting thing happens when I do my bi-weekly update. Some sellers will interact and work with me as a "team" to strategize getting the property sold. Some will listen to my advice directly. Some will email "thank you for the update". And some do not respond. At all. I understand if once in a while an email is lost or someone is too busy and distracted to email back. But some I do not hear from for months. Despite my frequent communication. Now, as a businessperson, how would you take that? Would you think the party really cared to sell the property? As a businessperson, would you think your labors were for naught? Remember, when you hire a real estate agent, he does not get paid until the property sells. However, he takes all the risk, both financially and time-wise to work on selling the property. When the "employer" never responds, how smart a risk is the businessperson taking? I have been giving that more thought, and the results are, I will no longer prioritize sellers who are not part of the process.