using market analytics with your clients: why market data matters now more than ever
DESCRIPTION
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
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!
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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:“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
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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!Comparing Zips to Set Expectations
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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 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
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Strategies for Data on Your Website
“Soft Sell” “Hard Sell”Blog
Posts
Dedica
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PagesCha
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Sample
Report
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Lead F
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Call to
Action
Relationships, inform 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
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
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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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Inventory : Understanding Buyer & Seller “Competition” Don’t assume
clients know these trends!
Inventory Trends: Davis, CA
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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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Trends: New vs Pending Listings
New Listings are pricing below the Market Median, and falling! (orange)
And the good deals are disappearing! (green)
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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
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