How do you talk to your buyers about national news that does not apply to your market?

Real Estate Agent with CATARRA CA BRE# 01871201


How do you talk to your buyers about national news that does not apply to your market?

I cringe every morning when I read news like this article that was published last week.  I have buyers, just like you do, that read everything about real estate they can get their hands on and headlines like this one "U.S. home sales hit 6-month low, prices decline" * make it hard to explain that the condo they saw go on the market last week has already sold and with multiple offers.  

But the new said......  

I am so amazed at how much information gets published about real estate at a national level and how useless that information is in helping a buyer understand their local real estate market.  I don't think there is anything else you can purchase that is as local as real estate is.  It is so dependent on location.  Plus things like the other buyers who are looking at the same time you are and the inventory of homes available at the time you are looking.  

Real Estate is a real time local market transaction that gets talked about in the news at a national historical level.   Does that make any sense at all?

On one hand it drives me nuts and other the other hand, it is an opportunity for me to educate my buyers (and sellers) about the market they are in RIGHT now.

*- idUSTRE75K3E820110621?feedType=RSS&feedName=topNews 

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Comments (5)

Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

I like the phrase "real time local market transaction."  The local market can be very "micro" in some cases.

Jun 30, 2011 04:38 PM
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

Carla...Agree totally with Sharon (#1) .  yes, real estate is always local and the micro view is really the most significant.  The national trends are interesting, but have very little local implications.

Jun 30, 2011 04:41 PM
Carla Dimond
CATARRA - Mountain View, CA
(Silicon Valley)

Some times having spent many years in High Tech marketing pays off:-)  

Glad the phrase "Real time local market transaction"  hits home I was using Macro vs Micro but not everyone knows the difference between Macro and Micro Economics, so I changed it to local vs national

Jun 30, 2011 04:46 PM
Marcie Sandalow
Marcie Sandalow, Compass 301.758.4894 - Bethesda, MD
Bethesda Chevy Chase DC real estate

Carla- Multiple offers have made a return to my local market... Some of my out of town buyers are having a hard time adjusting to it.  National numbers really have no bearing on any micro market.  But, it's a good conversation starter. 

Jul 03, 2011 07:13 AM
Carla Dimond
CATARRA - Mountain View, CA
(Silicon Valley)

Marcie, best of luck

Jul 03, 2011 07:33 AM