Why Market Data MattersNow More Than Ever
Altos Research: Contacts
Web: www.AltosResearch.com Product Demos: 1-888-819-7775 x.2 Email: [email protected]
[email protected] Twitter: @altosresearch
@mikesimonsen @scottsambucci @AltosSalesDude
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Altos Research – Why Market Data Matters 04/09/23 3
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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Principles & Technique:The Data and The Story
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
Be Transparent Address their unasked questions - honestly “Confused people don’t buy”
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Sometimes the Data ≠ Headlines
Scottsdale dropped a little – but mostly held strong!
Phoenix has been down – but picking up this Spring!
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Get Local!Trends by Zip (Austin, TX)
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How and When to Use The Data
On the web, blog Prospecting, relationship & trust building Lead conversion
In person Listing presentation/Buyer Meetings With Active Listings – Keep clients updated
In their inbox Weekly Market Reports Part of your drip, one of your touches
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Strategies for Data on Your Website/Blog – “Cut Your
Grass”
Soft Sell Hard Sell
Blog
Post
s
Dedica
ted
Loca
l
Page
sCha
rt W
idge
ts
Sam
ple
Repor
ts
Lead
For
m
Call t
o
Actio
n
Inform, establish expertise, reach
Convert visitors to leadsGoals:
Presentation:
Style:
Personality, quantity High profile data, Fewer options
Approach:
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Great Web Site Samples Real Estate Bloggers
Audrey Forshey - http://movinmaryland.com/ Ro Troia - http://blogtherockies.com/ “Homes vs. Condos” – Dru Bloomfield
www.athomeinscottsdale.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
The Fundamentals www.housechick.com – “3 Questions”
Lead Focused – John Harper www.TheHarperTeam.com
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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.”
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Setting the Price Right% Price Decreased: Measures the number of active listings that
have experienced a price reduction in the last 90 days
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Inventory Trends: Understanding the “Competition”
Don’t assume clients know these trends!
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Trends in New Listings
New Listings are pricing BELOW the Market’s Median PriceHomes exiting the market are even lower
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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
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Price Trends by “Quartile”
Different Price Trends based on Price Quartile
Days-on-Market by “Quartile”
Significantly higher DoM in most expensive price segment
Market Activity by “Quartile”
The lowest 25% of the market has the most activity – Implications for both Sellers AND Buyers?
How and When to Use The Data
On the web, blog Prospecting, relationship & trust building Lead conversion
In person Listing presentation/Buyer Meetings With Active Listings – Keep clients updated
In their inbox Weekly Market Reports Part of your drip, one of your touches
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Key Takeaways:
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. Clients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face
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Answer “How’s the Market?”
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For REBarCamp Attendees
Posting this presentation online to Slideshare (Or give us a card and we’ll email.)
Send you a Personalized Market Report to use next week Buyer Meetings Listings Presentations Sellers
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Altos Research: Contacts
Web: www.AltosResearch.com Product Demos: 1-888-819-7775 x.2 Email: [email protected]
[email protected] Twitter: @altosresearch
@mikesimonsen @scottsambucci @AltosSalesDude
25
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