market data matters
TRANSCRIPT
Why Market Data MattersNow More Than Ever
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Onl y Three Quest i ons
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 t hey ask, “How’s t he 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
Dat a Speci f i c t o Thei r Si t uat i on
The high-end of the market is moving significantly more slowly than the low end
Somet i mes t he Dat a Count er-act s t he Headl i nes
In this market, the low-end (blue) is moving much more slowly.
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Techni que: 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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More Than Just a Pri ce 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.”
Set t i ng Sel l er Expect at i ons: Days-on-Market
High end markets cooling faster
Compar i ng Areas: Ashburn vs. St er l i ng
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Market Anal ysi s by Pri ce Level (“Quar t i l e”)
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
Medi an Pr i ce Quart i l es - Ashburn
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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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St rategi es for Data on Your Si te
Soft Sell Hard Sell
Blog P
osts
Dedica
ted Lo
cal P
ages
Char
t Widg
ets
Sample
Rep
orts
Lead
Form
Call t
o Acti
on
Inform, establish expertise, reach
Convert visitors to leadsGoals:
Presentation:
Style:
Personality, quantity High profile data, Fewer optionsApproach:
The I nsi ght f ul Bl og Post
•Links•Articles•Menus•Contacts•Lots of real value
The St rong Cal l To Act i on
•One page•Few links•No bling•Sign Up Here•(Also, real value, BTW)
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Great Web Si te Sampl es
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 - Jesse Brossa
www.OCExclusives.com Lead Focused – John Harper
www.TheHarperTeam.com
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Three Thi ngs 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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Al tos Research: Contact s
Web: www.AltosResearch.com Phone: 1-888-819-7775 Email: [email protected] Blog: www.altosresearch.com/blog Twitter: @altosresearch @mikesimonsen
@scottsambucci
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