Beat The Headlines Be The Expert
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Transcript of Beat The Headlines Be The Expert
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STRATEGIES FOR REACHING YOUR REAL ESTATE CLIENTS WITH STATISTICS AND DATA
Beat the Headlines.Be the Local Market Expert.
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Who’s with you today?
Scott Sambucci, VP, Sales & Data Analytics [email protected] (415) 931 7942 (888) 819-7775 x.3 Twitter: @AltosResearch http://blog.altosresearch.com
www.altosresearch.com
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Why is this Altos dude giving this session?
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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 Open Houses Current Listings/Sellers – helping them
really see the market
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Altos Research – Why Market Data Matters 4/8/2010 5
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?
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Altos Research – Why Market Data Matters 4/8/2010 6
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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Altos Research – Why Market Data Matters 4/8/2010 7
How & When to use Market Data
Web & Social Media
Listing Presentatio
ns
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?
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Altos Research – Why Market Data Matters 4/8/2010 8
Principles & Technique:“Let Me Show You What I Mean”“What’s the market telling us?” 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
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Data = Headlines?
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Altos Research – Why Market Data Matters 4/8/2010 10
Get Local!
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Be specific!Days-on-Market by “Quartile”
DoM in most expensive price segment (black line) compared to middle & lower price segments
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Altos Research – Why Market Data Matters 4/8/2010 12
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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Be unique! Where are new sellers pricing?
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Altos Research – Why Market Data Matters 4/8/2010 14
“Bringing ‘em in the boat…” –Website Strategies for Lead Development
“Soft Sell” “Hard Sell”
Blog
Post
s
Dedica
ted
Loca
l
Page
sCha
rt W
idge
ts
Sam
ple
Repo
rts
Lead
For
m
Call t
o
Actio
n
Relationships, inform Convert visitors to leadsGoals:
Presentation:
Style:
Personality, quantity High profile data, fewer options
Approach:
Socia
l Med
ia
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YOU & YOUR WEBSITE
Where your clients spend time
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“Soft Sell”:LoCoMarketStats.com
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Show your LOCAL expertise!
http://athomeinscottsdale.com/2010/04/02/phoenix-real-estate-trends-home-listings-sales-and-inventory/
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The “Hard Sell”
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The “Hard Sell” - Craig’s List
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Hard Sell for Conversion
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Altos Research – Why Market Data Matters 4/8/2010 24
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
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Altos Research – Why Market Data Matters 4/8/2010 25
Setting the Price Right &Knowing the Market
% Price Decreased: Measures the number of active listings thathave experienced a price reduction in the last 90 days
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Supply & Prices?
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Understanding Buyer & Seller “Competition”
(Inventory Trends: Davis, CA)
Never assume that your clients know the trends.
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Altos Research – Why Market Data Matters 4/8/2010 28
Great Website Examples using Market Data
www.housechick.com www.stlhomedata.com www.locomarketstats.com http://www.facebook.com/virginiabeachhomesf
orsale www.chuckavera.com http://dillardandcompany.com/altos.php http://open.apr.com/pleasanton-market_report
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Altos Research – Why Market Data Matters 4/8/2010 29
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
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Altos Research – Why Market Data Matters 4/8/2010 30
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
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About Altos Research