Do "Stat" or Sales Postings get you anywhere?

So I'm amazed by the number of postings that I see with information just plastered about an area or community that doesn't really say anything.

Do you think this helps or hurts a Realtors business when they meet with a potential client?  I feel it is confusing to much of the public.

I'll give you an example:  I had a potential seller email me about their community.  They had seen the sales statistics posted somewhere and she was very discouraged because she "thought" her home value had dropped by $45,000!  She was very nervous about selling and wanted some advice.  After a little digging and a few long conversations, I realized that her value was skewed on this statistics posting because the 3 sales that had occurred in the past quarter, were all foreclosures.  It wasn't a realistic picture in her community since there we over 400 homes and others had sold within 6-12 months, for more than she thought her home was worth.

Don't you think that interpretation is important and all the facts need to be properly analyzed so we don't scare the public!  Isn't it important for us to educate our clients and community instead of talking at them?!

 

 
Posted by Erica McClenny on 04/25/2008 01:25 PM   Comments (5)   , , , ,  

5 Comments on Do "Stat" or Sales Postings get you anywhere?

Foreclosures are still comps. I would be very careful about telling your client about market conditions unless you can deliver.

04/25/2008 01:27 PM by Adam Brett - Fullerton, California Realtor (RE/MAX NOC)

I agree, but in a large community it isn't always valid.  Also, you have to take the condition of the homes into consideration.

We have some foreclosures here but we are not over run with them.  It's a blend of different details and information to provide a range of value.  Lot's of factors in a CMA.

04/25/2008 01:31 PM by Erica McClenny (eRealty)

Exposure, exposure, exposure. By placing listing and sale information on Active Rain you get posted on localism as well. When a search is done on a specific area that blog, posted on localism can show up in the search. Advertising is not really about selling, it's about making the phone ring ... or these days getting an email.

04/25/2008 01:33 PM by Patrick Lambert (Century 21 All Islands)

Consumers find so many info on the internet. Some data and posts are beneficial to them, I think. To do the search and market analysis for your clients and re-educating them would be our job.

04/25/2008 02:57 PM by Ellie Viray, Realtor (Dilbeck GMAC Real Estate)

I've received a few listings as a result of my stat postings.  The reason is that the sellers are calling me and asking my opinion of what's happening.  Most are impressed with my knowledge of their neighborhood.  Of course, my stats are posted monthly and are area-wide and I provide a chart along with them for some visual pop

04/25/2008 09:59 PM by Jonathan Osman - Charlotte / Matthews NC (Keller Williams Realty)

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Real Estate Agent: Erica McClenny (eRealty)
Erica McClenny
Raleigh, NC
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