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Beat the Headlines. Be the Local Market Expert.
 

Beat the Headlines. Be the Local Market Expert.

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A look at tips and analysis for real estate agents to employ when communicating with buyers and sellers in today's real estate market.

A look at tips and analysis for real estate agents to employ when communicating with buyers and sellers in today's real estate market.

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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 Local Market Expert. Beat the Headlines. Be the Local Market Expert. Presentation Transcript

  • Beat the Headlines. Be the Local Market Expert.
  • 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
  • About Altos Research
  • 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
  • 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?
  • 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
  • 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
  • Data ≠ Headlines Scottsdale held up through the Spring but falling this Summer. (Jumbo mortgages…) Phoenix has been down – but picked up this Spring.
  • Get Local!
  • 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
  • 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
  • Understanding Buyer & Seller “Competition” (Inventory Trends: Davis, CA) Never assume that your clients know the trends.
  • 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
  • Trends: New vs Pending Listings Prices of New Listings (black) trending lower & below the Median (orange) And the good deals are disappearing! (green)
  • Mean vs. Median Days-on-Market Median DOM is trending opposite of Mean DOM  Higher turnover with newly listed homes
  • 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” Significantly higher DoM in most expensive price segment compared to middle price segments
  • Market Activity by “Quartile”: Market Action Index The bottom 50% of the market has the most activity – Implications for both Sellers AND Buyers?
  • Characteristics per Quartile (Danville, CA) Less activity at top of the market – higher DOM, fewer new listings & exits
  • “ 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
    • Lead Focused
      • www.TheHarperTeam.com – John Harper
  • 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
  • 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
  • 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