When people find out you’re an agent, do they start asking questions about their home value or whether now is a good time to buy or sell? How often to people in your network ask, “So, how’s business?” As a real estate professional, people rely on you to know about the conditions of the local market. Since information in the media is often conflicting, your clients turn to you and your real estate training to make sense of it all. Here are some reasons why clients need you to be the local expert.
- Clear up Their Confusion
National data is measured differently. Each research “think tank” measures housing data differently. While the National Association of REALTORS® uses month-to-month numbers, Standard & Poor’s/Case-Shiller uses a three-month average. As a result, each organization arrives at different numbers, which can lead to significantly different conclusions. That’s where you come in — by understanding these differences and how these numbers apply to your local market, you can provide your clients with clarity.
- Local and National Markets Vary
Local market outlook and conditions are often different from the national picture. While the national housing forecast can give people an idea of what to expect, local housing information provides a realistic view of the market that impacts them the most—their local market.
- Conditions Differ by Neighborhood
Just as the picture of the local market can look different from that of the national market, local market conditions may vary from neighborhood to neighborhood, especially if you live in a major metropolitan area.
- Local Markets Matter
If they’re looking to buy or sell, the current condition of the local market, including average home price, inventory, etc., will dictate whether this is a good time for them to enter the market.
- You Are a Trusted Advisor
As a real estate professional, you have the opportunity to show your clients your character and competence when you discuss the realities of the local market with them.
For more tips on working will both buyers and sellers, register for The Pathway to Mastery™—Essentials real estate agent training course. You’ll get time-tested strategies to help you own your local market, increase lead generation and take your business to the next level. Get started today!