Should you receive market updates from your Regina Real Estate Agent?

When selling your largest asset and paying a Regina real estate agent a large commission to get the job done, you’d think that agent would be in contact with you at least once a week to provide an update of some kind. Yet, so many home sellers are most dissatisfied with the lack of communication they received from their agent.  Most of the time, sellers are communicated with on a daily basis up until the time the listing hits the market and then *crickets.*

So, what’s the deal? Why do agents choose not to communicate with their clients after the property gets listed? Personally, I think it’s a lack of systemization and a lack of structure in the agent’s business. Without a set schedule, without a strong listing system, everything is left up in the air and the client doesn’t receive the service they need or deserve. 

Also, some agents don’t value the importance of providing their clients with regular market updates.

Let me give you an idea of what happens in my business: 

  • Regular feedback from all viewings, provided at least 24 hours after the showing occurred. 
  • Weekly video update with new listings, sold properties of conditions sales in the same neighborhood 
  • Updates about how our social media posts are performing 
  • An in-person market review every 19 days on the market to discuss the properties performance on all platforms including, social media & MLS, pending an offer has not yet been accepted

My goal by providing weekly market updates is simply to keep the clients in the loop. I want the client to know everything I know about the property, including the status of properties that are comparable,  that have sold or new properties that have come onto the market. These are all variables that could affect the performance of our listing and always staying ahead of the market is extremely important. 

When I go into a listing appointment for a property I know has been previously listed with another agent, I’ve got my red flag up. I have questions like: Why didn’t the listing sell? Why was the client unsatisfied? What caused the breakup?

I have these questions because I want to know how the listing was previously performing on the market and 9 times out of 10, the clients will say that the house was on the market for over 100 days and they hardly heard from their Regina real estate agent. Then, when the listing expired and didn’t sell, the clients wanted to try a different agent, which is when they then call me. 

How I am a Different Regina Real Estate Agent

What sets me apart from other agents is my system for providing market updates. Below is a screenshot of my Google Drive folder, where I keep communication with my clients. In this folder is all the feedback we receive from viewings, where the screenshots of our social media posts are, screenshots of statistics and more. 

Regina real estate agent

All of this information is accessible to the clients 24/7 so they can access this information whenever they want. We don’t hold anything back here. 

Regina real estate agent

Screenshot of showing feedback log

Regina real estate agent

Screenshot of social media post performance.

Regina real estate agent

Screenshot performance

The 19 market updates I provide come with all this information and more. The in-person market update is meant to help the seller make an informed decision. If the property isn’t selling, what do we need to do to help it sell? Below are some questions we can ponder during the in-person market update so that we can make an informed decision on how to move forward with the property. 

  1. Does the property need paint?
  2. Is it the location?
  3. Have we been allowing all the viewings that have been requested?
  4. Do we have a problem with odours? 
  5. Does the listing offer a reasonable buyers commission? 
  6. Does the property have good curb appeal?

All of these are questions we ask to decide how to move forward with the listing. 

It’s Not All About a Price Reduction

Often sellers complain about not hearing from their Regina real estate agents until it became time to reduce the price of the home, at which time the seller felt ambushed and unhappy with the agent. This is because the seller has received no feedback, no market information, nothing. If the seller was aware that every buyer who went through the home thought it was overpriced, the seller might be able to consider the price reduction more strongly, but without the right information- it’s a hard decision to make. 

The way I represent sellers is different. I look at feedback from buyers as a way to improve the property with each showing. I look at statistics on the listing to see how many people have looked at the property online. The goal is not to reduce the price if the home hasn’t sold, the goal is to help the seller make an informed decision about the home. The seller gets to decide what they want to do with the property, not the agent. As an agent, I’m here to provide information and guide the seller to a successful sale. I cannot do that without paying attention to what’s going on with the property and I intend to show the seller everything I can see about the property weekly and every 19 days. 

Communication is key. This is how a seller should be represented by a Regina real estate agent. 

Contact Me

If you’d like to talk selling or general market conditions, I welcome you to call me at 306-552-7047 or fill out my online contact form!

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