5 Reasons Why You Should Write Market Reports
I am going to be teaching a class on effective blogging to local brokers. I hope JEFF will let me use this post as an example....
Market reports for the communities you service may not be the most interesting or fun things to write. But there is some real value in doing so.
Here are 5 reasons why YOU should write market reports for your service areas.
Credibility - conveying market information adds to your credibility as a real estate professional in the area. Being able to converse about what YOUR market is doing AND back it up with facts demonstrates your expertise
Consumers want this information - both buyer and seller prospects have a keen interest in what is going on in specific markets. Why do you think the media loves spouting statistics? They just don't do it very well. My market reports usually generate 800 to 1000 clicks within a few months of being written. People just like numbers in real estate.
Consumers NEED this information - how can they make responsible, informed decisions without knowing what the market is doing?
- Buyers need to know about comparables to assist in making offers
- Sellers need to know about past sales and trends so you can help them price their homes accordingly.
Improve your CMAs - I suspect they will be easier to do and you will speak with much more authority if you truly understand the local market statistics that are impacting your local market and the value of your seller's home.
Knowledge - writing market reports adds to your own knowledge about particular markets. You might be surprised at what you learn. I just did a market report for San Marcos and discovered that 80% of the January 2009 sales were distress sales (REOs, short sales and pre-foreclosures), and 53% were REO's. Now doesn't THAT tell you something about the San Marcos real estate market? Might there be some implications for these data for both buyers and sellers in the San Marcos real estate market?
So get going on a market report or two. You might learn something, plus it will make you a more knowledgeable, and credible, REALTOR.
Keep in mind - Do you Write What You Want to Write or What Consumers Want?
UPDATE 2/9/09:
Another thought - I expect many agents read the reports that come out from their MLS and look at their stats regularly. As they should. But taking it to the next level to pupt it down on paper (well, on-line) REALLY helps you to understand these numbers and think about what they mean. Just reading them will not likely help them sink in. Just a thought.
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If I can provide more information about San Marcos, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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