10/03/2020
One of the most powerful ways you can overcome your "newness" in real estate is to know your stuff and establish yourself as the "Knowledge Broker" for your market.
If you can speak with confidence about a variety of market conditions, people will automatically assume you've been in the business for a long time.
Hi Iām Michele Verwold Real Estate Like a Rock Star and Better Homes and Gardens Gary Greene in Tomball How do you do that? By studying the market. Let me share with you the top 5 things to focus on so the āHow long have you been in the businessā? questions melts into non existence.
1. Market segments
Low end, mid market, high end/luxury.
Different price segments typically sell better at different times..
By studying whatās selling -and why
youāll know where to focus.
2. Daily hot sheets - You need to be inside your MLS tracking activity on a daily basis. Our Houston Matrix system has fabulous features like MarketWatch, Favorite Searches and Hot Sheets right on your Matrix home screen.
Being able to explain why certain market segments are selling, while others are not, will be extremely impressive. First thing in the morning with a cup of copy the data is right at your finger tips.
Where to start?
Donāt you want to be the Pro in the Know of your neighborhood?
You need to know about every new listing, recent pending and and of course every single sold listing
3. Expireds and FSBOs - Even if you don't have any luck converting these people to clients, you can learn a TON from talking with them and asking about their experience. Often these discussions will give you a roadmap of what NOT to do
4. Contracts - Read them, learn them and understand contracts so you can speak intelligently about them - when your client's life savings is on the line.
Negotiation confidence and strength comes from knowing these terms and how to use them to your clients benefit.
Itās easy to pick a paragraph or a section a week to focus on and learn.
5. Finally the Communities in Your Market. Study to learn their differences: Amenities, price ranges, school districts, pros and cons, and even the builders who originally built there etc.
By building these learning activities into your daily time block schedule, you will quickly become confident and easily seen as the Knowledge Broker in your area.
I hope you find this information helpful. As always, if there is anything I can do to help grow your business, Iād love to hear from you