Loss prevention is usually associated with theft in retail stores, warehouses or pilferage. However, in the real estate business, I consider “Loss Prevention” the prevention of losing your existing customers, especially your listings.

In addition to being a virtual tour provider in Mount Dora, I am also a licensed Broker – Associate here in the Great State of Florida.

Florida, like just about all parts of the country is undergoing an “adjustment” to the market. One of the biggest and bitterest pills for a real estate agent, and especially the listing agent, to swallow is the pill you have to take just before you attempt to make that weekly “update” call to the seller.

“Hello Mr. and Mrs. Seller this is your friendly real estate agent, you know the one who was begging to list your house?”…..Well I just wanted to let you know, I’m still here…..Yes, I realize I haven’t shown your house lately, nor has anyone asked to see it. I just want you to know, I’m doing everything possible to get it sold. Have a Nice Day!”

The best time to make that call is probably midday when you know the call is going to go into voice mail so you don’t actually have to have a conversation about how bad the market is, nothing is selling, no one can get a loan….blah, blah, blah. We as real estate agents aren’t telling them anything they don’t already know.

Fortunately, with the auto emailing feature of the tour stats a detailed picture of “activity” on the seller’s virtual home tour can be sent directly to them. I find that if I send it to both the seller and myself, it serves as a “trigger” to call that seller and discuss the activity for the past week. This obviously accomplishes several things. First, I have removed the “sting” of telling them what they already know, that there haven’t been any showings, that the market is bad, etc. Instead I can focus on how many hits the tour got and talk about why that didn’t convert into showings. I can venture to say: A. the price is too high B. Maybe you should move that car (the one that is up on cement blocks) from the front of your house. C. Cut the grass, etc., etc.

If there haven’t been any hits on their virtual tour, we can now determine the WHY of the reason. As real estate agents, we are taught the only reason property doesn’t move, no matter what the market, is either PRICE, CONDITION, TERMS, LOCATION or the AGENT.

If we, as agents, don’t communicate on a regular basis, we alienate ourselves from that customer, the one who originally liked us or they wouldn’t have entrusted the sale of their home to us. By not communicating with them, they will either go with some other company when their listing expires or cancel their listing and possibly go with some other agent.

As both an agent and a virtual tour provider, I can tell you that reviewing the hit stats report is an ideal “Loss Prevention” tool and the beauty of it is that it’s totally painless.

Dave Morehead
Mount Dora Virtual Tour Company