Beat the Headlines.Be the Local Market Expert.
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
Altos Research – Why Market Data Matters 05/02/23 3
About Altos Research
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 Current Listings/Sellers – helping them
really see the market
Altos Research – Why Market Data Matters 05/02/23 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 05/02/23 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 05/02/23 7
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 05/02/23 8
Data ≠ Headlines
Scottsdale held up through the Spring but falling this Summer. (Jumbo mortgages…)
Phoenix has been down – but picked up this Spring.
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Get Local!
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How and When to Use Market Data(Hint: Everywhere)
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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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
Understanding Buyer & Seller “Competition”
(Inventory Trends: Davis, CA)
Never assume that your clients know the trends.
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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
Prices of New Listings (black) trending lower &
below the Median (orange)
And the good deals are
disappearing! (green)
Altos Research – Why Market Data Matters 05/02/23 15
Mean vs. Median Days-on-Market
Median DOM is trending opposite of Mean DOM Higher turnover with newly listed
homes
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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”:Market Action Index
The bottom 50% of the market has the most activity – Implications for both Sellers AND Buyers?
Characteristics per Quartile (Danville, CA)
Less activity at top of the market – higher DOM, fewer new listings & exits
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“Bringing ‘em in the boat…” –Website Strategies for Lead Development
“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:
Socia
l Med
ia
Altos Research – Why Market Data Matters 05/02/23 21
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 05/02/23 22
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 05/02/23 23
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 05/02/23 24
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
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