Feedback is one of the most important things we can collect on behalf of our sellers in order to adjust prices, adjust terms, adjust condition, and to get that property really tuned up for the marketplace.

So one thing is we gotta make sure we're going out and trying to collect that feedback. And when we do that, I'm gonna ask three questions:

1. Would you think of the price?

2. What did you think of the condition?

3. What did you think of the neighborhood?

Those are my three questions. I'm sending this by text to every showing agent. But I'm gonna also add one more question. My fourth question, which is maybe the most important is:

4. Can you tell me, did they make an offer on another house or did they actually purchase another property and get in contract?

When I do that and I find out that I can actually deliver that by act to my seller and say, "Well, Mr. and Mrs. Seller, here's the feedback. And they went ahead and made an offer...

I got a quick note on feedback. This came to me from one of my friends that works with me, Adam McGrew. He started doing this a couple of years ago and I thought it was brilliant.

We're always asked for feedback when we do showings. Number one, give the feedback because the shoe's going to be on the other foot. When you are selling a listing and they show your house and you're going to ask for feedback. And if they don't provide it, it's going to be frustrating. So always give feedback.

But now you want to go further than that. Meaning, when you're giving feedback, it actually can be a pre-negotiation tool.

This is how Adam uses it:

Instead of just saying, "Oh, it's a nice house, but they chose another one" or something super simple that's not meaningful, Adam gives a detailed text.

In the text, he gives an insightful analysis of the home, how it compared to other listings, what the buyer noticed as they're walking through the house...