How to Be A Housing Market Expert

Aug 23

The media can sometimes create dramatic headlines about the housing market

As agents, we have a responsibility to deliver data not drama and be the trusted authority.

When I go to your website, do I see YOUR OPINION of the current market conditions? Is it clear WHERE you are a market expert? If the answer is no these are changes you will want to make.

A good market report is like a weather report. It's quick and informative

What's the temperature?
Is it getting hotter or colder?
Is this typical for this time of year?
What do I need to protect myself against the elements?

A Good Market Update

Has a maximum of 3-4 data points, don't go heavy on numbers.
Tells the story as if your best friend said to you “how’s the market?”
Gives your opinion of what these numbers mean.
Gets them curious with a few notable facts.

How to stay top of mind as an expert
Spread The Word

Add a weekly video on your social feeds that is a quick snapshot of what's happened over the past 7 days
Create Local Housing Market Updates on YouTube.
E-mail your database at least once a month with your most recent housing market update videos
Add the market updates on your blog on your website
Challenge yourself to answer the question “how’s the market?” at least 10 times a day

And Then ...

Use skippable ads for these YouTube videos to target your ideal client. This will expand your reach.

How to become a local expert

Study the MLS every morning. Look at the following: number of active listings, number of sales, average DOM, what are the prices for new listings, and the sold price.
Document these numbers daily. You will start to see the trends and build your knowledge of what’s normal and what’s not.
Visit 8-10 properties per week. This will enhance your understanding of the features and benefits of the homes.
Review the monthly reports from your local real estate board. You will do a deeper dive on the trends and understand what typical happens in that month
Set up a google alert for "your town + real estate" - this helps you stay on top of media publications on the topic
Read the daily blog posts from Keeping Current Matters and stay on top of their content

The goal with these actions is to create conversations every day that lead to consultations. This creates both short and long term opportunities for your business. It will establish you as the authority as the local market expert.

Janet Miller