How to get more listings with the help of data.
Data always has been an important part of sales. Over the last few years it has become crucial. It is our way of showing that what we say is researched. It helps build credibility and trust.
Let’s look at where to find data and how to use it.
Type of data
The data that we collect and use needs to be a combination of things.
Market- Specific market trends for our area, suburb, city. these are things like sales prices, days on the market, average and median sales prices. Also the differences in these between now and the past. A year ago, a month ago, three months ago and half a year.
Industry - What is happening in the real estate industry in general, This is about everything that relates and effects the industry: mortgage rates, building shortage, shortage of materials, Reserve bank decisions, rental issues, etc. All of these are things that affect the market and we need to be aware of them.
Sector - What is happening that may have an impact on the industry worldwide trends, immigration, etc.
Resources
Specific information - For the city, suburb or neighborhood that we work in, the Real estate institute of NZ provide a massive amount of information to its members. As a real estate agent or salesperson, we must be familiar with with this data. It is also important to be familiar with the data that our company produces but also the information that other companies provide, this turns us into experts in our area.
Industry and sector data - Tony Alexander provides great information on his website http://www.tonyalexander.nz/publications.php the website https://www.interest.co.nz/ is an invaluable resource of information and obviously the big media resources like the NZ herald, stuff, etc. they provide information that covers both sector and industry and it is important to look through these
How to present it
People need to have information presented to them in a way that relates to them. This depends on their personality, their age group, the language they speak.
It means that the information we have needs to be able to be presented in a printed form on paper. It needs to be able to be presented digitally through a tablet but also we need to be familiar with it so we can talk about it.
We need to be able to tell potential vendors what is happening in our market, how does it compare to the way things were a year ago, six months ago, three months ago and a month ago. This helps people gain perspective and understand where things are.
The result
Having this data does two things:
It highlights us as professionals in the field of real estate.
It builds credibility to what we say.
These two build trust and the result of trust is that people will want to work with us.
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