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Beat The Headlines. Be The Expert.

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A look at how real estate agents and brokers can use market statistics to effectively educate and reach their clients.

A look at how real estate agents and brokers can use market statistics to effectively educate and reach their clients.

Published in: Real Estate, Business, Technology

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  • First question: “How’s the market?” how do you answer?
  • Next question, just for my edification, “when you think about your marketing efforts, how do you prioritize A) lead gen B) lead conversion (into buyer or listing) C) closing transaction
  • Transcript

    • 1. Beat the Headlines. Be the Local Market Expert .
    • 2. Who’s with you today?
      • Scott Sambucci, VP, Sales & Data Analytics
        • [email_address]
        • (415) 931 7942
        • (888) 819-7775 x.3
        • Twitter: @AltosResearch
        • http://blog.altosresearch.com
        • www.altosresearch.com
    • 3. About Altos Research
    • 4. Just For REBarcamp Attendees
      • Posting this presentation online – we’ll email the link
      • Send you a Personalized Market Report to use next week – Every report includes all of the stats/analysis we’ll cover
        • Buyer Meetings coming up?
        • Listings Presentations
        • Current Listings/Sellers – helping them really see the market
    • 5. The Only 3 Questions Consumers Ask
      • 1. What’s for sale?
        • IDX Search
      • 2. How much is my house worth?
        • CMA
      • 3. How’s the market?
        • This is your opening!
        • What’s different about this question from the other two?
    • 6. When they ask, “How’s the market?”
      • “ I want to participate, show me how I can/why I should?”
        • They know the market is bad…
        • But how is it good for them?
      • A “buying” signal
        • Buying your services – they need an expert
        • Compelling to action – they want guidance
    • 7. Principles & Technique: “Let Me Show You What I Mean”
      • Be prepared
        • With clients, plan the story in advance
        • The story is your chance to engage
      • Be transparent
        • Address their unasked questions - honestly
        • Confused people don’t buy!
      • Be the expert
        • What aren’t they expecting?
        • Setting price, market time expectations
    • 8. Data ≠ Headlines Scottsdale held up through the Spring but falling this Summer. (Jumbo mortgages…) Phoenix has been down – but picked up this Spring.
    • 9. Get Local!
    • 10. How and When to Use Market Data (Hint: Everywhere)
      • On the web, blog
        • Prospecting, relationship & trust building
        • Lead conversion
      • In person
        • Listing presentation / buyer meetings
        • With active listings – Keep clients updated
        • In the yard sign “I sold this home in a week. Ask me how.”
      • In their inbox
        • Weekly market Reports
        • Part of your drip, one of your touches
    • 11. More Than Just a Price Trend
      • Setting seller expectations
        • Percent Price Decreased: “This is what happens to the over-pricers”
        • DoM: “here’s what we’re looking at…”
      • Buyer off the fence
        • Inventory: “You’re in the highest-demand segment”
        • Average vs. Median DoM: the best properties moving more quickly
    • 12. Understanding Buyer & Seller “Competition” (Inventory Trends: Davis, CA) Never assume that your clients know the trends.
    • 13. Setting the Price Right & Knowing the Market % Price Decreased : Measures the number of active listings that have experienced a price reduction in the last 90 days
    • 14. Trends: New Listings & Exits Prices of New Listings (black) trending lower & below the Median (orange) And the good deals are disappearing! (green)
    • 15. Mean vs. Median Days-on-Market Median DOM is trending opposite of Mean DOM  Higher turnover with newly listed homes
    • 16. Market Analysis by Price Level (“Quartile”)
      • Quartile 1: Most expensive 25% of properties
      • Quartile 2: Top Middle 25%
      • Quartile 3: Bottom Middle 25%
      • Quartile 4: Least expensive 25% of properties
      • Example: 80 homes for sale in a market (city or zip code)
        • 4 "quartiles" (groups) each have 20 properties based on individual property prices.
        • Allows for market definition by price, not just geography
    • 17. Days-on-Market by “Quartile” DoM in most expensive price segment (black line) compared to middle & lower price segments
    • 18. Market Activity by “Quartile”: Market Action Index The bottom 50% of the market has the most activity – Implications for both Sellers AND Buyers?
    • 19. Characteristics per Quartile (Danville, CA) Less activity at top of the market – higher DOM, fewer new listings & exits
    • 20. “ Bringing ‘em in the boat…” – Website Strategies for Lead Development “ Soft Sell” “ Hard Sell” Blog Posts Dedicated Local Pages Chart Widgets Sample Reports Lead Form Call to Action Relationships, inform Convert visitors to leads Goals: Presentation: Style: Personality, quantity High profile data, fewer options Approach: Social Media
    • 21. Great Web Site Samples
      • Real Estate Bloggers
        • www.MovinMaryland.com - Audrey Forshey
        • www.BlogTheRockies.com - Ro Troia
        • www.AtHomeInScottsdale.com - Dru Bloomfield
        • www.BlogByTheBay.com -Ginger Wilcox
      • Local Market Pages
        • www.OCExclusives.com – Jessie Brossa
        • www.StlHomeData.com – Eric Stegemann
        • www.LoCoMarketStats.com – Heather Elias
      • The Three Questions
        • www.Housechick.com – Kelley Koehler
      • Lead Focused
        • www.TheHarperTeam.com – John Harper
    • 22. Key Takeaways:
      • How do you answer, “How’s The Market?”
      • Use the data to illustrate your expertise
      • Clients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face
    • 23. Just For REBarcamp Attendees
      • Posting this presentation online to Slideshare
      • Send you a Personalized Market Report to use next week
        • Buyer Meetings coming up?
        • Listings Presentations
        • Sellers – helping them really see the market
    • 24. Contact Us!
      • Scott Sambucci, VP Data Analytics
        • [email_address]
        • (415) 931 7942
        • Twitter: @AltosResearch
      • Ricky Fernandez, Product Specialist
        • [email_address]
        • (888) 819-7775 x.2
        • Twitter: @AltosSalesDude