Listing Broker MUST be Present for All Showings?
The successful sale of a home is directly correlated to PRICING, MARKETING, and ACCESSIBILITY.
Many sellers require that the Listing Broker present the property to prospective buyers in person. What these sellers do not realize is that this actually decreases their chances of sale.
After many years of research it has been noted that the average buyer does the following:
- Looks at 23 homes prior to writing an offer.
- Takes 15-20 minutes to look at each home for the first time.
- Looks at the home of their choice twice before writing an offer.
- Prefers to look at a home with only one broker.
Buyers and Buyer’s Brokers do not want the listing broker to be present during their first viewing of a property as it makes them feel uncomfortable, and impedes their ability to look around and see if the home could fit their lifestyle. Having an additional broker present takes precious time that detracts from their objective…..seeing the house.
Would you want the other broker to be present if you were a buyer?
Top Buyer’s Brokers do the following when booking a showing…
- Buyer brokers are more prone to show properties on a lockbox.
- Buyer brokers are more likely to show a property where the listing broker does not need to be present.
It is imperative that the listing broker provides the buyer’s broker with a marketing packet that highlights a property’s most appealing features prior to the showing. This goes way beyond an mls sheet or standard marketing supplied through the mls. Floor plans may need to be supplied depending on the property.
Listing broker might be welcomed by the Buyer and Buyer’s broker on a second showing for the following reasons:
Buyers are interested in the property and have questions that need to be answered:
- Property lines
- History of the home
- Location of septic and well
- Possibility of a pool or tennis courts
- More information regarding issues with the home that were made apparent through disclosures.
Top brokers are very busy and cannot always show a property when requested. This presents a serious problem for the seller as a missed showing is a missed opportunity. Allow the buyer’s broker to do their job by showing the property, gauging interest, promoting the property and setting up a second showing.
- It may make showing the property more difficult; schedules for the buyer, the selling broker and the listing broker must now all match to view the property.
- The watchful eye, hovering of the listing and inability of the buyer and selling broker to privately view the property can create an uncomfortable atmosphere…and often a shorter showing.
- No private or open conversations will take place during the critical moments the property is being viewed between buyer and his/her broker…for fear of being overheard and that confidential conversation will not happen.
- Is this a protection for the Seller so that the valuable artwork on the walls…the jewelry left on the dresser….the money on the desktop….will not “disappear” due to the watchful eye of the Listing broker?
The intrusion of another broker on what is designed to be a “private showing”, takes the private out of showing, takes the comfort out of atmosphere, shortens the study of the property. Is this really a service to a Seller or a Buyer? I do not think so.
If the seller wants to sell the property, put the property on a lockbox. The Seller increases their chances of sale by allowing the property to be on a lockbox.