Why Seller Surveys?
- Adam Garrett
- Dec 27, 2022
- 1 min read
Updated: Apr 21, 2024
In this article, I wanted to go over why seller surveys are important.
Why Seller Surveys?
Increased Marketability
Due to seller surveys I regularly see marketable information missing from previous listings & my own observations. By adding additional marketable information, I enhance searchability & maximize positive exposure. Without additional input from the seller in a survey, that information just isn't there.
Increased Accuracy, Decreased Lawsuits, Decreased Withdrawn Offers, Decreased Terminated Contracts, & Decreased Withdrawn Listings
Did you know that a terminated contract can cost you more than $10k? I've seen it happen on my own listing, and if you're a seller, you should do everything that you can to prevent such a loss. A thorough seller survey is one of the best tools you have to mitigate that happening. Without a seller survey, if the seller isn't very careful to read everything (including but not limited to the listing agreement in its entirety and the offer in its entirety, which most sellers aren't looking to spend the time to do) information could be inaccurate & lawsuits are more likely. In addition, some items in the seller survey are best done in advance of listing. Keep in mind that I am not an attorney.
Answering Questions Once Rather Than 2-4x
In the absence of seller surveys, the seller should spend more time making more corrections in the data input sheets themselves (which are quite long), doing so in an unorganized way since the same information could be missing from 3 separate data input sheets if you're using 3 like I do (with 3 data input sheets taking more time from the agent, but maximizing exposure on 4 MLS for the seller). If the seller would have identified the problem once in the initial seller survey, that wouldn't be necessary. Since not every data input sheet asks the same question, and since where questions are asked varies, it's important that all issues, even if repeated, are identified in the data input sheets. Due to the length of data input sheets, especially when multiple data input sheets are involved many sellers gloss over this task & aren't thorough with checking things.
More Details:
Smart Nature of Survey: Be Sure to Input Response Chronologically in "Response" Column as Instructed
For those seeking to take the full survey, it's around 190 questions as of 4/21/24. For those seeking to answer the lowest possible number of questions who don't fall under certain criteria, it's as low as 30 questions. These differences are directly integrated into the survey via smart features. For instance, all but 1 of the questions in this screenshot have been answered already via answers to prior questions:
What's the Lowest # of Questions I Can Possibly Answer? 30
For those with no mortgage, no HOA, no tenants, no well, & no septic, & not in a flood zone, after this response, there are a maximum of approximately 70 questions as of 4/21/24 if you say less questions in response to the 1st question and later in response to this question. If you also say "still less" regarding even less questions, it drops the # of questions down to approximately 30 questions as of 4/21/24.
How to Fill Out a Seller Survey w/ Adam
Adam uses Google Sheets for seller surveys, which helps sellers to keep things organized by having questions in one column, answers in another, additional notes in another, and additional columns for locations of where questions fit into listing paperwork and paperwork with offers.
For more details on how to fill out his Google sheets, even if you're familiar with Google Sheets already, go here, especially "Edit within Google Sheets".
What Besides Seller Surveys Does Adam Rely On?
1. What I observe in property & typically take copious notes on
2. Discussions over the phone, text, and email
3. Previous listings
4. Tax records
How Unusual are Seller Surveys?
Seller surveys aren't a rare phenomenon. I was provided a seller survey initially by my company when I was much newer in the business. My company isn't unique with them either.
Why Longer is Better with Seller Surveys
I've expanded upon my seller survey substantially since I first received one from my company as I've noted important elements of listings and future contracts that may not be obvious from previous sales (if applicable), tax records, and pictures of the property. Those additions are meant to enhance searchability, accuracy, & exposure of positive elements of a property in marketing.
No seller survey or a short seller survey makes things easier for seller & listing agent, but at the expense of the seller's marketability, accuracy, etc.
Why Longer is Important if Using Multiple MLS
If you're using multiple MLS, it's important to note that data input sheets, that are used to input listing information aren't all the same. Because the data input sheet ask different questions, if you're working with an agent one year with only one data input sheet, and the next year are working with the same agent who is now using 3 data input sheets, there should be more questions.
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