A look at how real estate professionals can use real estate market data to show their expertise and educate their clients about local real estate market trends. Presentation was delivered by Scott Sambucci at the REBarcamp-Phoenix on April 8, 2010.

1. Beat the Headlines. Be the Local Market Expert. Strategies for reaching your real estate clients with statistics and data

2. 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

3. Why is this Altos dude giving this session?

4. 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

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?

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

7. How & When to use Market Data What’s going on out there? Help me keep an eye on things! Web & Social Media What does my competition look like? How quickly do I have to act? Email and Drip Listing Presentations Buyers and Offers

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

9. Data = Headlines?

10. Get Local!

11. Be specific!Days-on-Market by “Quartile” DoM in most expensive price segment (black line) compared to middle & lower price segments

12. Market Analysis by Price Level (“Quartile”) Quartile 1: Most expensive 25% of properties Quartile 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

13. Be unique! Where are new sellers pricing?

14. “Bringing ‘em in the boat…” –Website Strategies for Lead Development Dedicated Local Pages Sample Reports Lead Form Call to Action Chart Widgets Social Media Blog Posts Presentation: “Hard Sell” “Soft Sell” Style: Goals: Relationships, inform Convert visitors to leads Approach: Personality, quantity High profile data, fewer options

15. Where your clients spend time YOU & YOUR WEBSITE

16. “Soft Sell”:LoCoMarketStats.com

17. Show your LOCAL expertise! http://athomeinscottsdale.com/2010/04/02/phoenix-real-estate-trends-home-listings-sales-and-inventory/

21. The “Hard Sell”

22. The “Hard Sell” - Craig’s List

23. Hard Sell for Conversion

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

25. Setting the Price Right &Knowing the Market % Price Decreased: Measures the number of active listings that have experienced a price reduction in the last 90 days

26. Supply & Prices?

27. Understanding Buyer & Seller “Competition” (Inventory Trends: Davis, CA) Never assume that your clients know the trends.

28. Great Website Examples using Market Data www.housechick.com www.stlhomedata.com www.locomarketstats.com http://www.facebook.com/virginiabeachhomesforsale www.chuckavera.com http://dillardandcompany.com/altos.php http://open.apr.com/pleasanton-market_report

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

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

31. About Altos Research