Beat The Headlines Be The Expert

STRATEGIES FOR REACHING YOUR REAL ESTATE CLIENTS WITH STATISTICS AND DATA

Beat the Headlines.Be the Local Market Expert.

Who’s with you today?

Scott Sambucci, VP, Sales & Data Analytics scott@altosresearch.com (415) 931 7942 (888) 819-7775 x.3 Twitter: @AltosResearch http://blog.altosresearch.com

www.altosresearch.com

Why is this Altos dude giving this session?

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

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?

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

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?

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

Data = Headlines?

Altos Research – Why Market Data Matters 4/8/2010 10

Get Local!

Be specific!Days-on-Market by “Quartile”

DoM in most expensive price segment (black line) compared to middle & lower price segments

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

Be unique! Where are new sellers pricing?

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

YOU & YOUR WEBSITE

Where your clients spend time

“Soft Sell”:LoCoMarketStats.com

Show your LOCAL expertise!

http://athomeinscottsdale.com/2010/04/02/phoenix-real-estate-trends-home-listings-sales-and-inventory/

The “Hard Sell”

The “Hard Sell” - Craig’s List

Hard Sell for Conversion

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

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

Supply & Prices?

Understanding Buyer & Seller “Competition”

(Inventory Trends: Davis, CA)

Never assume that your clients know the trends.

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

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

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

About Altos Research