How's the Market?

By
Real Estate Agent with Addison Wolfe Real Estate PA License RS321608

Recently, I have taken some webinars from By Referral Only teaching me powerful ways to ask for and get referrals by simply speaking the exact words at the right time. 

Since I am a new agent and I need lots of traning to overcome, handle or remove any objection or resistance people may throw at me.  I have closed a rental transaction and did a buyer's consultation but I have not yet done a listing presentation so I need help and practice! 

One of the most common questions you will be asked in the real estate business regardless if you are a new or seasoned agent is "How's the Market?"  This question could be asked over a friend's house, at a party or your child's soccer game.  How you answer that question will help you generate business and referrals.

house with yard

What do you say?  Good, getting better, strong spring/summer market, prices are improving or interests are still low so a great time to buy.

When people ask “How’s the Market?” What they’re really asking is, “How is my market?” You can begin a relationship with them by leading with a giving hand and offering to send them free information specific to their market. 


This is what By Referral Only teaches you to say -- Magic Words:

Experience shows, it all depends where you live. I would love to do some research for you and send you an email that will tell you what homes are for sale now, what homes have sold recently and how long homes are taking to sell in your neighborhood. So you can feel secure in the knowledge that you have the most accurate information. This timely information will tell you right away how your market is right now! I imagine that information would be of value to you, would it not?


I have shared this with a few agents and my sales manager in my office and they said, "It was subtle but effective dialogue.  You defintiely will hear me recommending it." 


Please try it out and let me know if it works for you!

 

Posted by

Karen Johnson

Karen Johnson, Realtor, ABR
The Jay Ginsberg Group at
Addison Wolfe Real Estate
PA License RS321608
550 Union Square Drive
New Hope, PA 18938
215-862-5500 Office
267-808-7050 Cell / Text
karenjohnson@addisonwolfe.com
addisonwolfe.com/karenjohnson

 

 

 

Karen Johnson Facebook  Karen Johnson Google+  Karen Johnson LinkedIn  Karen Johnson Twitter 

"Remember there is nothing wrong with any piece of real estate the right price can't fix!"

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Rainmaker
2,006,463
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

HI Karen ,  you are right on...Some are just making general conversation and others want to know what their home is worth...

Jul 07, 2013 04:02 AM #1
Rainer
346,323
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Ronad, thank you for your comment!  It is about them and not us.  We have to learn thier language and that is what I am being taught.  Thanks for stopping by!

Jul 07, 2013 04:12 AM #2
Ambassador
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Karen,  I love it when someone ask me "How's the Market".  I always say Wonderful.  Want a CMA???  Well not that short and sweet but the end result is the same.

Jul 07, 2013 06:07 AM #3
Rainer
346,323
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Belinda, thank you for your helpful comment!  The main point is to keep it positive and focused on them.  Thanks for stopping by and enjoy your day!

Jul 07, 2013 07:33 AM #4
Rainmaker
1,279,227
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Hi Karen! Just like Belinda, our response is generally, "It's Great". The local market is improving, inventory is low and prices are up. I guess we are fairly passive, we wait to see what more they might say about buying or selling.

Jul 14, 2013 02:01 PM #5
Rainer
346,323
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Donna, I agree with you that the market is finally moving.  Not fast but at least moving in a positive direction.  I am hoping that the market will continue to improve too!

 

Jul 17, 2013 05:41 AM #6
Rainmaker
246,989
Brien Berard
Remax Professionals Laurel MD - Laurel, MD
Maryland Real Estate Agents - Laurel Real Estate

Hard to argue with that response because it is a common sensical answere.

Sep 12, 2013 03:43 AM #7
Rainer
346,323
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Brian, thanks for the helpful comment.  I agree simply but yet effective.  Thanks for stopping by!

Sep 12, 2013 01:05 PM #8
Rainmaker
375,616
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Karen, in a former life I was the broker-owner of a CENTURY21 franchise in San Jose.  While training new agents we would practice and practice answering that exact question; "How's the Market?".  I told the associates I wanted them to pretend they were being asked that question by a national TV news reporter and everyone was listening carefully to their answer.  Personally, I like starting the answer by quoting at least three MLS statistics from memory; comparing this months listings, sales and median price to the same month one year earlier.  Knowing and quoting real statistics from memory sounds very impressive.  The office provided the monthly MLS stats. Then finish with something like the By Referral Only Magic Words.

Sep 13, 2013 04:14 PM #9
Rainer
346,323
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Lloyd, thank you for your helpful recommendation!  I appreciate your advice and I look forward to reading your blog on a regular basis.  Thanks!

Sep 13, 2013 11:16 PM #10
Ambassador
4,153,585
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Karen

The question about the market is a common one and offers great opportunity to showcase our knowledge about the local market. I like what By Referral Only suggests.

Jeff

Oct 05, 2013 09:53 AM #11
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Karen Johnson, Realtor, ABR

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