3 minute read
4 Ways to Utilize Unique Market Data
New Jersey Realtors® know the housing market ebbs and flows better than anyone, and no matter the market conditions or trends, Realtors® are the consistent experts providing their clients with top-notch service. To help you continue to bring your best to the negotiating table, New Jersey Realtors® provides its members with the most comprehensive housing market statistics in New Jersey.
We work with all of New Jersey’s MLSs to bring you data reports on the state, county, and municipal levels. They include data points such as new listings, pending sales, closed sales, median sales price, percentage of list price received, days on the market, and more.
Here are four ways to use housing market statistics in your everyday business to highlight your market expertise, help your clients understand the market, and provide value to past and future clients.
1. Share the reports with your buyer clients before their first showing. In your preliminary conversations with clients, consider sharing reports on the state and county level in addition to their desired municipality search areas. Clients can go into their home search with a better understanding of market trends and how their budget may fall within the total scope of the market.
2. Create expectations with sellers by providing specific selling-related data points. While your seller clients may have a price point in mind, showing them the numbers could help them re-evaluate. Sharing statistics such as days on the market and the percentage of list price received will help them comprehend how long their home could be on the market and if there is potential for bids over the asking price.
3. Provide local market updates on social media. Only New Jersey Realtors® have access to local municipality reports—take this opportunity to promote yourself as the ultimate local market expert for the areas you serve. You can design a custom social media graphic or use New Jersey Realtors® free monthly housing market assets through Photofy.
4. Include market statistics in your listing presentations. When sharing properties with your clients, consider including data points such as the percentage of list price received and the median sales price so clients can compare the listing you’re presenting to trends in the area. Doing so will help them make an informed decision and could help mitigate buyer remorse.
