Your Market Knowledge

Mortgage and Lending with Top Flite Financial Inc.

Clients, who are buying or selling, want an agent who is going to be able to beat the market.  In order to do this the agent has to have the right skills.  The agent who masters the lastest data for their area and for individual areas is the agent, who will be able to help their clients meet this objective.  I've heard that there are many sophisticated buyers and sellers out there, who don't need us to be experts. I don't agree with this because an agent, who knows the market and who works at their business is going to be able to bring a lot of information to someone who is looking to buy or sell property. Most people are busy with their jobs and families they really don't want to be experts at real estate.  Sure many are more knowledge with the use of the internet but they still need us to be the experts.  Realtors work at this business everyday, we know real estate.  It is our job to understand the market. 

Good resources for keeping up with the latest data nationwide and locally:

Local MLS ,Business Journals, Area Newspapers, University Research Centers, Real Trends, NAR, Inman News, Office of Federal Housing Enterprise Oversight.

Also you need to know what value you bring to the table.  Develop a Unique Selling Proposition which states your special skills, knowledge, connections that you can bring to your buyers and sellers.  Sitdown and brainstorm what it is that makes you stand out.  In other words what makes you so special?  You need to be able to tell that prospect-  Hey hire me because.......

One problem many of us have is being able to manage sellers expectations especially in this market.  You won't be able to sell the house if your seller's expectations aren't clear in terms of pricing, prepping the house to sell and showing.  If the house isn't priced right, looks like a tornado ran through it and if it is harder to get in than Fort Knox to show that house is just going to sit there.  This is where the skill level of the agent shows time and time again.  I'm sure if real estate agents shared there would be could enough stories to fill a library on unrealistic sellers expectations and how in the end they just prevent the sale from happening and tie up everyone's time from the agent to the seller.  The agent who has the market knowledge to price a clients home corrrectly and tell the client what they need to know to sell it right is the agent, who illustrates to their client that they know the market and are more than capable of getting their house sold.

An agent,who can explain to their client the difference between Value and market price and can convince them that it doesn't matter how many improvements they made to the house or what they owe on the house all of that doesn't matter because when it comes down to's really what the market is willing to pay for their house that is all that really matters.  

If we can prove our worth by doing our homework and keeping up with our market then that is what we can bring to our prospective clients to let them know that we are the realtor, who will help them beat today's market and help them meet their objective.  

Comments (6)

Ted Tyndall
Davidson Realty Inc. - Saint Augustine, FL
I will help You find the Home YOU want to Buy

Virginia, good post. You definately have to take knowledge of the area to the table. The market is too competitive to just show up.

Jun 10, 2010 02:57 AM
Bryan Watkins
LRA Real Estate Group - Mesa, AZ

Virginia, Nice post. We need to be more aware of these issues.

Jun 10, 2010 03:07 AM
Virginia Juarez
Top Flite Financial Inc. - Brandon, MS

Ted- you are so is becoming increasing important to know the market.  Thanks for commenting.

Jun 10, 2010 06:24 AM
Virginia Juarez
Top Flite Financial Inc. - Brandon, MS

Thanks for commenting, Bryan.

Jun 10, 2010 06:24 AM
Jessica Hass
Canyon Lake, CA

thanks so much for the post ! it is very helpful !! I am bran new to the market ... and i am trying to sit here and read everything so i can soak up all the knowledge !

Jun 10, 2010 07:16 AM
Virginia Juarez
Top Flite Financial Inc. - Brandon, MS

Jessica-  We all learn something new everyday we are in real estate.  Believe it or not most of the learning is in the doing.  You learn something new with every transaction, I was told that when I started and I found it to be so true.

Jun 11, 2010 02:02 AM