WHY DO A HEMET MARKET ANALYSIS?
By John Occhi, Hemet REALTOR®
Hemet CA Real Estate

As a REALTOR® my job has many facets.  It is not only about working with people and helping them achieve their version of the American Dream with home ownership.  Yes marketing, negotiating, and searching for the right home is all important aspects of what we do - some may even consider those tasks as to what makes this job fun.

There is a business side to REAL ESTATE.  In Hemet, CA perhaps the most ‘business' side of the REALTOR position is working with our contracts and getting an offer through escrow so that ownership can change hands.

Then there is the knowledge aspect of being a REALTOR®.  Knowledge is a never ending thirst for new information.  It does not matter what you do in life, if you become complacent and quit learning about your business you will end up only being mediocre in your profession.  After all would you want a Doctor treating you if he had not read his medical journals for the last year or two?  What would you think of an attorney who was not versed on the latest changes in the law that took effect on January 1^st and how it pertains to your case?  Needless to say, there would be a lack of confidence.

So why is a REALTOR® not held to the same standards.  As a group, we claim to be worth the big bucks, but many of us are more interested in the next round of golf than spending quality time in front of the computer studying the market and crunching the numbers so they make sense. 

See, as REALTORS® with access to the MLS al we have to do is generate a report and interpret it for our clients and we end up looking smart and knowledgeable.  However, there are more than a few REALTORS out there who have no problem ‘faking it'.  They have the information they need when they need it,, so they never really study and learn. 

That's a shame because the few make the majority look bad.

So, why do we as REALTORS® need to know about our market?  Besides the fact that it is your job as a REALTOR to know your trade it is very useful when you are discussing price with a client or prospect.  You should not only know what is relevant in the market today, but you need to be knowledgeable about trends in the local Hemet CA Real Estate market.  A trend does not happen overnight, it is not something that is detected in a monthly - that is just a blip on a chart.  90 days of data is not even a trend - that is more of an aggressive opinion.  A trend can be best be identified by taking a look in the rear view mirror - looking back in time at least 6 months.

By being knowledgeable about the Hemet CA Real Estate market I can be the messenger and not the message when working with my clients to discuss pricing issues, including the all dreaded price reduction.

My goal is to be able to discuss the current inventory.  I want to be able to give general numbers for all of Hemet, CA and then break it down for all homes of their size in Hemet.  Then I focus on the actual neighborhood and the specific characteristics of their home.  I explain how ‘inventory' works and that once we have more than 90 to 120 days of inventory available we are officially in a ‘Buyers' market.

I like to break out the numbers where I can compare the Active Listings to the Pending Listings and Finally the Sold listings in the Hemet CA Real Estate market.  I feel these numbers are very important in pricing a home to sell and pricing it correctly.

I am not referring to a standard MLS generated CMA.  This is work and it takes time - but knowledge is always gained and well worth the effort.

Once I have a listing, I continue to educate my sellers so that if a price reduction is ever necessary, it is their opinion and they offer the suggestion to me.  I do this by informing them daily about any activity in the market that is relevant to their listing.  I set myself up with an email from the MLS to notify me of every change that takes place and I then simply leave a short message on their answer machine with the activity.  This way, when I call to discuss my activities with them, they are fully aware of everything that has taken place in the market.

My clients know I have done my job and I will not be surprised with a new listing around the corner or worse... a listing around the corner that just sold and I have to hear it from my client.  No one likes to clean that egg off their face, do they?

So if you want an opinion of the Hemet CA Real Estate market, call me.  Not only will you learn what is happening today, when we are done you will have a clear understanding of the trends in our local Hemet Real Estate market and that is critically important when you have a home for sale in Hemet.

Have a Blessed Day,