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llustration by Lanette Behiry/Adobe Stock

    The practice of buyer agents providing feedback to listing agents has become outdated and is no longer a professional courtesy. This expectation, which originated in the pre-buyer agency era, has passed its expiration date due to increased liability risks.

    As a business owner, every decision you make impacts your direction. Agents Decoded aims to provide insights from seasoned professionals who have navigated successes and failures. In the past, seller clients relied on showings to gauge their listing's reception by the buying public. It was assumed that showing agents would report buyer feedback to the listing agent, who would share it with sellers.

    This expectation persisted even after buyer agency became the norm. Feedback was programmed into automated showing platforms, and procuring it was a significant part of a listing agent's workload. Many listing agents and sellers considered it unprofessional for a buyer agent to decline giving feedback.

    I viewed this practice as a nuisance, wasting time on unnecessary discussions with listing agents who tried to overcome my client's objections. Times have changed, and our obligations to clients are now paramount. Confidentiality is a significant concern; divulging buyer thoughts to a listing agent can compromise their bargaining position and potentially breach confidentiality.

    Since the Sitzer/Burnett settlement and subsequent practice changes, it's become essential for buyer agents to demonstrate value through advocacy. Confidentiality ranks high in this promise of advocacy. Buyers may view their agent collaborating with the listing agent as off-putting or unsettling.

    Moreover, online analytics provide sellers with scientific and actionable insights into their listing's performance. Tools like RealScout's "test the market" feature offer real-time data on buyer interest based on property characteristics and user preferences. Savvy brokerages can gain impressive insights through analytics and heat maps, adjusting marketing focus and direction accordingly.

    With digital tools at our disposal, it's puzzling that agents still chase feedback. It's an old habit with no upside except for the sensibilities of those who blur the lines between representation and cooperation. Forward-thinking brokers and agents have a choice: continue outdated practices or use science to enhance value for sellers.

    One option is a risk-laden practice that potentially breaches confidentiality, while the other is evidence-based and factual. The industry can no longer afford legacy practices that don't align with new expectations from the public we serve. Instead, leaders should teach agents to embrace meaningful KPIs, elevating our stature and demonstrating value to a skeptical public.

    It's time to do away with analog feedback and adopt digital tools that provide actionable insights and enhance advocacy for sellers.