Why Market Data Matters Now More Than Ever

Why Market Data MattersNow More Than Ever

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Only Three Questions

What’s for sale? IDX Search

How much is my house worth? CMA

How’s the market? This is your opening!

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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

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Beaverton by Zip Codes

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Beaverton: Price Trends by Zip

Sometimes the Data ≠ Headlines

Portland is trending down, but Lake Oswego is trending up

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Technique: The Data and The StoryQ: “How's the market?” A: “Depends on your market!”

Plan the story in advance Then find the data to support it The story is your chance to engage

Illustrate your expertise For example: Sellers into a “Buyer's

Market”?, Setting price, market time expectations

Address their unasked questions - honestly What about the bubble? Are we near the bottom?

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Setting the Price Right

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Understanding “Competition”

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More Than Just a Price Trend

“Let me show you what I mean” 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

In the Yard Sign “I sold this home in a week. Ask me how.”

Comparing Areas: Ashburn vs.Sterling

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Market Analysis by Price Level (“Quartile”)

Quartile 1: Most expensive 25% of propertiesQuartile 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

Median Price Quartiles:Lake Oswego

Characteristics by Quartile

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How and When to Use The Data In person

Listing presentation With active listings In the yard sign and open house

In their inbox Newsletter Part of your drip, one of your touches

On the web, blog Prospecting, relationship & trust building Lead conversion

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Strategies for Data on Your Site

Soft Sell Hard Sell

Blog

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Inform, establish expertise, reach

Convert visitors to leadsGoals:

Presentation:

Style:

Personality, quantity High profile data, Fewer options

Approach:

The Insightful Blog Post

•Links•Articles•Menus•Contacts•Lots of real value

The Strong Call To Action

•One page•Few links•No bling•Sign Up Here•(Also, real value, BTW)

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Great Web Site Samples

Blogs: “Homes vs. Condos” – Dru Bloomfield

www.athomeinscottsdale.com Selling a Home in Los Gatos – Mary Pope Handy

www.liveinlosgatos.com Price vs. Days-on-Market – Ginger Wilcox

www.blogbythebay.com Local Market Pages

www.OCExclusives.com – Jessie Brossa www.stlhomedata.com – Eric Stegemann www.housechick.com – Kelly Koehler

Lead Focused – John Harper www.TheHarperTeam.com

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Three Things To Remember

1. How do you answer, “How’s The Market?”

2. Don’t look for expertise in the data, use the data to illustrate your expertise

3. They want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face

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Altos Research: Contacts

Web: www.AltosResearch.com Phone: 1-888-819-7775 Email: info@altosresearch.com Blog: www.altosresearch.com/blog Twitter: @altosresearch

@mikesimonsen @scottsambucci

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