Beat the Headlines. Be the Local Market Expert.
Beat the Headlines.Be the Local Market Expert.*First question: Hows the market? how do you answer?Whos with you today?Scott Sambucci, VP, Sales & Data Analyticsscott@altosresearch.com(415) 931 7942(888) 819-7775 x.3Twitter: @AltosResearchhttp://blog.altosresearch.comwww.altosresearch.comAltos Research Why Market Data Matters**About Altos ResearchJust For REBarcamp AttendeesPosting this presentation online well email the linkSend you a Personalized Market Report to use next week Every report includes all of the stats/analysis well coverBuyer Meetings coming up?Listings PresentationsCurrent Listings/Sellers helping them really see the marketAltos Research Why Market Data Matters**The Only 3 Questions Consumers Ask1. Whats for sale?IDX Search2. How much is my house worth?CMA3. Hows the market?This is your opening!Whats different about this question from the other two? Next question, just for my edification, when you think about your marketing efforts, how do you prioritize A) lead gen B) lead conversion (into buyer or listing) C) closing transaction*Altos Research Why Market Data Matters**When they ask, Hows the market?I want to participate, show me how I can/why I should?They know the market is badBut how is it good for them?A buying signal Buying your services they need an expertCompelling to action they want guidanceAltos Research Why Market Data Matters**Principles & Technique:Let Me Show You What I MeanBe preparedWith clients, plan the story in advance The story is your chance to engageBe transparentAddress their unasked questions - honestlyConfused people dont buy!Be the expertWhat arent they expecting?Setting price, market time expectations*Altos Research Why Market Data Matters**Data HeadlinesScottsdale held up through the Spring but falling this Summer. (Jumbo mortgages)Phoenix has been down but picked up this Spring.Altos Research Why Market Data Matters**Get Local! Altos Research Why Market Data Matters**How and When to Use Market Data(Hint: Everywhere)On the web, blogProspecting, relationship & trust building Lead conversionIn personListing presentation / buyer meetingsWith active listings Keep clients updatedIn the yard sign I sold this home in a week. Ask me how.In their inboxWeekly market ReportsPart of your drip, one of your touchesAltos Research Why Market Data Matters**More Than Just a Price TrendSetting seller expectationsPercent Price Decreased: This is what happens to the over-pricersDoM: heres what were looking atBuyer off the fenceInventory: Youre in the highest-demand segmentAverage vs. Median DoM: the best properties moving more quicklyUnderstanding Buyer & Seller Competition (Inventory Trends: Davis, CA)Never assume that your clients know the trends.Altos Research Why Market Data Matters**Setting the Price Right &Knowing the Market% Price Decreased: Measures the number of active listings thathave experienced a price reduction in the last 90 daysAltos Research Why Market Data Matters**Trends: New vs Pending ListingsPrices of New Listings (black) trending lower & below the Median (orange) And the good deals are disappearing! (green)Altos Research Why Market Data Matters**Mean vs. Median Days-on-MarketMedian DOM is trending opposite of Mean DOM Higher turnover with newly listed homesAltos Research Why Market Data Matters**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 QuartileSignificantly higher DoM in most expensive price segment compared to middle price segmentsMarket Activity by Quartile:Market Action IndexThe 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 & exitsAltos Research Why Market Data Matters**Bringing em in the boat Website Strategies for Lead DevelopmentSoft SellHard SellBlog PostsDedicated Local PagesChart WidgetsSample ReportsLead Form Call to ActionRelationships, informConvert visitors to leadsGoals: Presentation: Style: Personality, quantityHigh profile data, fewer optionsApproach: Social MediaAltos Research Why Market Data Matters**Great Web Site SamplesReal Estate Bloggerswww.MovinMaryland.com - Audrey Forsheywww.BlogTheRockies.com - Ro Troiawww.AtHomeInScottsdale.com - Dru Bloomfield www.BlogByTheBay.com -Ginger Wilcox Local Market Pages www.OCExclusives.com Jessie Brossawww.StlHomeData.com Eric Stegemannwww.LoCoMarketStats.com Heather EliasThe Three Questionswww.Housechick.com Kelley KoehlerLead Focused www.TheHarperTeam.com John HarperAltos Research Why Market Data Matters**Key Takeaways:How do you answer, Hows The Market?Use the data to illustrate your expertiseClients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face*Altos Research Why Market Data Matters**Just For REBarcamp AttendeesPosting this presentation online to SlideshareSend you a Personalized Market Report to use next weekBuyer Meetings coming up?Listings PresentationsSellers helping them really see the marketAltos Research Why Market Data Matters**Contact Us!Scott Sambucci, VP Data Analyticsscott@altosresearch.com(415) 931 7942Twitter: @AltosResearchRicky Fernandez, Product Specialistricky@altosresearch.com(888) 819-7775 x.2Twitter: @AltosSalesDude*First question: Hows the market? how do you answer?Next question, just for my edification, when you think about your marketing efforts, how do you prioritize A) lead gen B) lead conversion (into buyer or listing) C) closing transaction***