Using Market Analytics with Your Clients: Why Market Data Matters Now More Than Ever
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Why Market Data Matters Now More Than Ever
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This is the second of two presentations led by Mike Simonsen & Scott Sambucci of Altos Research on using real estate market data with your buyers, sellers, clients, and marekting.
Transcript of Using Market Analytics with Your Clients: Why Market Data Matters Now More Than Ever
Why Market Data MattersNow More Than Ever
Who’s with you today?
Mike Simonsen, Co-Founder & CEO [email protected] (415) 302 1573 Twitter: @mikesimonsen
Scott Sambucci, VP, Sales & Data Analytics [email protected] (415) 931 7942 Twitter: @AltosResearch | @scottsambucci
www.altosresearch.com
Just For REBarcamp Attendees Posting this presentation online –
we’ll email the link Send you a Personalized Market
Report to use next week Buyer Meetings coming up? Listings Presentations Current Listings/Sellers – helping them
really see the market
Altos Research – Why Market Data Matters 04/08/23 4
Only Three Questions
What’s for sale? IDX Search
How much is my house worth? CMA
How’s the market? This is your opening!
Altos Research – Why Market Data Matters 04/08/23 5
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
Altos Research – Why Market Data Matters 04/08/23 6
Principles & Technique:“Let Me Show You What I Mean” 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
Altos Research – Why Market Data Matters 04/08/23 7
Sometimes the Data ≠ Headlines
Scottsdale dropped a little – but mostly held strong!
Phoenix has been down – but picking up this Spring!
Altos Research – Why Market Data Matters 04/08/23 8
Get Local!Comparing Zips to Set Expectations
Altos Research – Why Market Data Matters 04/08/23 9
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 the yard sign “I sold this home in a
week. Ask me how.” In their inbox
Weekly market Reports Part of your drip, one of your touches
Altos Research – Why Market Data Matters 04/08/23 10
Strategies for Data on Your Website
“Soft Sell” “Hard Sell”Blog
Posts
Dedica
ted Lo
cal
PagesCha
rt Widg
ets
Sample
Report
s
Lead F
orm
Call to
Action
Relationships, inform Convert visitors to leadsGoals:
Presentation:
Style:
Personality, quantity High profile data, fewer options
Approach:
Altos Research – Why Market Data Matters 04/08/23 11
Great Web Site Samples Real Estate Bloggers
www.MovinMaryland.com - Audrey Forshey www.BlogTheRockies.com - Ro Troia www.AtHomeInScottsdale.com - Dru Bloomfield www.BlogByTheBay.com -Ginger Wilcox
Local Market Pages www.OCExclusives.com – Jessie Brossa www.StlHomeData.com – Eric Stegemann www.LoCoMarketStats.com – Heather Elias
The Three Questions www.Housechick.com – Kelley Koehler
Lead Focused www.TheHarperTeam.com – John Harper
Altos Research – Why Market Data Matters 04/08/23 12
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
Altos Research – Why Market Data Matters 04/08/23 13
Inventory : Understanding Buyer & Seller “Competition” Don’t assume
clients know these trends!
Inventory Trends: Davis, CA
Altos Research – Why Market Data Matters 04/08/23 15
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
Altos Research – Why Market Data Matters 04/08/23 16
Trends: New vs Pending Listings
New Listings are pricing below the Market Median, and falling! (orange)
And the good deals are disappearing! (green)
Altos Research – Why Market Data Matters 04/08/23 17
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
Days-on-Market by “Quartile”
Significantly higher DoM in most expensive price segment compared to middle price segments
Market Activity by “Quartile”
The bottom 50% of the market has the most activity – Implications for both Sellers AND Buyers?
Characteristics per Quartile (Davis, CA)
Source: Altos Research Market Report, 8/03/09
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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
Altos Research – Why Market Data Matters 04/08/23 22
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
Altos Research – Why Market Data Matters 04/08/23 23
Contact Us!
Scott Sambucci, VP Data Analytics [email protected] (415) 931 7942 Twitter: @AltosResearch
Ricky Fernandez, Product Specialist [email protected] (888) 819-7775 x.2 Twitter: @AltosSalesDude
