Use Our MarketStats Product to Create Conversations with Potential Clients
January 15, 2021 MLS Updates MarketStats Staff
Demonstrating to potential clients why they should choose you over competitors can be challenging. They may be familiar with your years of experience and have seen your great reviews, but your first meeting and listing presentation with them is your chance to make your strongest case. That’s where CCIMLS's Market Stats product can help.
InfoSparks* makes data truly marketable, helping you gather in-demand real estate data in one place. But it’s more than a mere data aggregator — it allows you to combine multiple variables to create visually appealing and easy-to-digest reports to share with these potential clients.
It’s easy to compare several datasets at once in the same area using InfoSparks.
For example, you may want to compare the number of active listings and the number of sold listings in the area where the potential clients are looking to buy. Sharing a chart with this information makes it easier for prospects to get a feel for a market’s available inventory.
If your potential client is a buyer, seller or both, and the results of the data in the chart you created are in their favor, you can use this same data to explain that it is a buyer’s or seller’s market. Show them how to calculate it by taking the number of active listings divided by the number of homes sold. The resulting number is the number of months of inventory that is available in that market. If the number is less than five months, it’s a seller’s market as there are more buyers than homes for sale, but if it’s more than five months, it’s a buyer’s market.
Another good data set to use with potential sellers is the number of homes sold in certain price ranges. When setting the list price, it’s good to have data to back up your decision. In the below example, you can see that in 2020 in Denver, more homes sold each month in the higher price range (red). Therefore, you can show the potential seller that they may want to price their home at $566,000 instead of $564,000 as the higher range has been showing more homes sold, so there may be more potential buyers looking in that price range. Plus, who doesn’t want to sell their home for as much as possible?
These are just a few examples of the many ways you can use InfoSparks to start conversations and cement yourself as a market expert in the eyes of potential clients. Who knows, the chart you share may be the deciding factor in them choosing you as their trusted partner and real estate agent.