Mary's Habit

Mary is a HotSheet junkie. Ever since MLS went on-line 15 or so years ago, she has made a habit of checking in 2-3 times a day to look at the HotSheet (you may know it by another name, but it's that MLS function that shows all the new listings, and price and status changes, since the last time you looked). It only takes her about 10-15 minutes to check, and she rarely misses a day - when she does, she frets and fidgets, because she feels like she doesn't know what's going on in the market.

What's the benefit? Mary knows our market in detail. She knows what just sold, what just came on the market, how things are moving in different areas and price ranges, and who just dropped their price again. And she sees it as it is happening, and somehow manages to remember most of it.

Have you ever been in a listing presentation, going over your comps, and the seller asks about that house two blocks over that sold last month? You don't have any idea what he's talking about, because it didn't come up as a comp, but Mary knows all about it - what it was listed at, what it sold for and that it had 5 bedrooms and a 3-car garage, so it isn't a good comp for our prospect's 3-bedroom, 2-car garage home.

Or, how do you like it when your buyer calls and asks why you didn't tell him about the house he saw on the way to work that got listed a couple of days ago? Mary knew all about it and was on the phone to our buyer within an hour of it getting listed.

Less fun, she watches as that overpriced listing we didn't get languishes for months on the market and suffers through several price drops until it finally goes under contract at the price we first recommended, while she's mumbling to herself, "we told them that was the price".

It is very obvious to our clients and prospects that Mary knows the real estate market. It's also obvious to other agents. Pass Mary in the hall, or run into her at the title company, and she's likely to congratulate you on your new listing or on finally getting that old one under contract. She has the scoop on the market.

It's just a little thing that she does, but over time, it represents a massive amount of attention focused on the real estate market. And it has a huge payoff - knowledge readily generates opportunity.

I'd recommend it as a very effective way to develop market expertise and a deep understanding of what is going on. It takes a strong commitment, though - it's not something you can do every once in a while. But it will make you a better agent.

Mary & Dick Greenberg Elevations Real Estate LLC 106 East Oak St. Fort Collins, CO 80524 970-689-4663 www.maryanddick.com