Buyer feedback is key in helping agents adapt to market changes

Buyer feedback is a key resource for agents who want to keep on top of market changes and so handle vendors’ homes more effectively.

The importance of viewer comments - according to CRM software provider Rex - has taken on more importance in recent months as buyers have been urged to prioritise virtual viewings over physical ones.

Due to the impact of the Covid-19 pandemic on buyers’ priorities, collecting feedback from prospective purchasers is now a more powerful tool than ever before for estate agents, according to Rex.

The software provider says that buyer feedback reports can help agents provide visibility to sellers, engage with applicants more effectively and build up insight in a market which has changed radically thanks to Coronavirus.

“Since March, buyers' priorities in terms of location and property features have changed more quickly than ever before” explains Anton Babkov, chief executive of Rex, which is used by over 1,800 agencies across the UK, Australia and New Zealand, including Spicerhaart in this country.

"Agents need to do everything in their power to understand market changes and use this information to help sellers market properties more effectively” he continues.

"Sellers want to hear what applicants are saying about their home - it allows them to understand key priorities and deal-breakers. They can use this information to focus on certain areas of the property when preparing for viewings or making sure buyers see the most popular features - such as potential office space or gardens - at the end of a viewing to leave a lasting impression."

The visibility and transparency that buyer feedback provides also helps agents to have difficult conversations with vendors around sensitive issues such as price reductions.

"Understanding what buyers like and don't like about a property they’ve viewed, enables agents to have more effective conversations when they re-engage to find out if they are making an offer. Feedback can help agents to lead the conversation, overcome objections and ultimately achieve more positive better outcomes” says Babkov.

He believes automating buyer feedback and reports to vendors and integrating it with a CRM is invaluable for agencies seeking to provide an outstanding service despite increasing workloads.

He adds that with consumer expectations rising and increased demand for tech, agents can thrive by seamlessly providing key data in an easy-to-digest and instantaneous format.

"With buyer priorities likely to shift further over the coming months, it's crucial that agencies have the tech in place to stay ahead of the curve and pass on this insight to their clients” concludes Babkov.