Beat The Headlines. Be The Expert.Presentation Transcript
Beat the Headlines. Be the Local Market Expert .
The Only 3 Questions Consumers Ask
1. What’s for sale?
2. How much is my house worth?
3. How’s the market?
This is your opening!
What’s different about this question from the other two?
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
“ 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
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
www.TheHarperTeam.com – John Harper
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
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
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
Days-on-Market by “Quartile” DoM in most expensive price segment (black line) compared to middle & lower price segments
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
Principles & Technique: “Let Me Show You What I Mean”
With clients, plan the story in advance
The story is your chance to engage
Address their unasked questions - honestly
Confused people don’t buy!
Be the expert
What aren’t they expecting?
Setting price, market time expectations
About Altos Research
Just For Attendees
Posting this presentation online to Slideshare
Send you a Personalized Market Report to use next week