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.

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
  • Beat The Headlines. Be The Expert.

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