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Beat The Headlines Be The Expert Webinar 2010 04 05

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Presentation slides from today's webinar - "Beat the Headlines. Be the Local Market Expert" - hosted by Altos Research.

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Beat The Headlines Be The Expert Webinar 2010 04 05

  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>Twitter: @AltosResearch </li></ul></ul><ul><ul><li>http://blog.altosresearch.com </li></ul></ul><ul><li>Kristin Evans </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: @AltosKristin </li></ul></ul><ul><ul><li>www.altosresearch.com </li></ul></ul>
  3. 3. About Altos Research
  4. 4. Just For 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>Open Houses </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. How & When to use Market Data Web & Social Media Listing Presentations Buyers and Offers Email and Drip What’s going on out there? Help me keep an eye on things! What does my competition look like? How quickly do I have to act?
  8. 8. Principles & Technique: “Let Me Show You What I Mean” “What’s the market telling us?” <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>
  9. 9. Data = Headlines?
  10. 10. Price of New Listings vs. Median List Price
  11. 11. Get Local!
  12. 12. “ 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
  13. 13. “ Soft Sell”:LoCoMarketStats.com
  14. 16. The “Hard Sell”
  15. 17. The “Hard Sell” - Craig’s List
  16. 18. Hard Sell for Conversion
  17. 19. 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>
  18. 20. 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
  19. 21. 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>
  20. 22. Days-on-Market by “Quartile” DoM in most expensive price segment (black line) compared to middle & lower price segments
  21. 23. Understanding Buyer & Seller “Competition” (Inventory Trends: Davis, CA) Never assume that your clients know the trends.
  22. 24. Great Website Examples using Market Data <ul><li>www.housechick.com </li></ul><ul><li>www.stlhomedata.com </li></ul><ul><li>www.locomarketstats.com </li></ul><ul><li>http://www.facebook.com/virginiabeachhomesforsale </li></ul><ul><li>www.chuckavera.com </li></ul><ul><li>http://dillardandcompany.com/altos.php </li></ul><ul><li>http://open.apr.com/pleasanton-market_report </li></ul>
  23. 25. 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>

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