Be the Expert on High-Level Market Data at Your Listing Appointments

Schedule FREE Strategy Session

Transcript:

Having high-level market data helps home sellers understand you are different from other agent. We use Clarus Market Metrics; the pricing analysis in there is really awesome.

This analysis will show you the same thing every time, at least in my market. This is the one I keep out when we price the property. It shows Days On Market and Price.

If you pick the right price, out of the 27 that sold in the last 365 days between $150,000 and $200,000 in this area of Charlotte, the 14 that sold without a price reduction were priced at $177k and sold at $175k, 1.1% off their asking price. It took them 50 days to sell, with no price reductions.

The folks that cheated on the high side priced at $217,000, $40,000 higher than the first group. They sold for less than the original group, and it took them three times as long to sell, and they had to go through 2 or 3 price reductions.

This is powerful data. It's called Clarus Market Metrics, and it has to be available in your MLS, but it's something we go into every listing appointment with.

We also use KCM slides, and an absorption analysis, which is in your Dropbox as well. The absorption analysis looks at the dynamics of not their immediate neighborhood but one level bigger. We will look at 28203 from $150,000 to $200,000 and take it down into the specific property. It's pretty self-explanatory and you have that exact form in Excel in the Dropbox.

The goal here is to let them know you aren't just a typical agent, you know what you're doing, by establishing your authority and expertise. You're not getting into pricing, just getting a 30,000 ft view of the market. We get into what we do, the marketing services we provide. Some of the macro drivers we are seeing here locally is the lead in to this conversation.

You want to ask them if they understand, do this often through the process. "Does it make sense, what I talked about here?"

If we miss the price out of the gate, buyers are pretty smart. You're just educating them on how prices work. You can always bring them back to that.