Real estate agents can use market data tools like Claris metrics and absorption analysis to show clients that correct initial pricing sells homes faster with fewer price cuts. The training covers how to present charts, ask clarifying questions, and keep returning to pricing throughout the listing appointment.
Be the expert. Know your numbers having high level. So I'm not talking about comps yet. I'm talking about high level market data to help them understand that you're different than other agents. So we use Claris metric. Claris market metrics. The pricing analysis in there is. Is really awesome. So this analysis will show you the same thing every time at least in my market. And basically the punchline is basically days on market. And it does. There's a bunch of other different reports but this is the one that I keep out. When we price the property, it stays on market in price. So basically shows you that if you pick the right price, you know, out of the 27 that sold in the last 365 days and 150 to 200,000 in this area of Charlotte, the 14 that sold without needing a price reduction, they priced at 177. They sold at 175, 1.1% off of their original asking price. Took them 50 days to sell. No price reductions. The folks that cheated on the high side. So they had noted data to support. They priced at $217,000, $40,000 higher than the first group. They sold for less than the first group. They sold For a full 22.3% off of their original asking price. It took them more than three times to sell their home. Three times as long as the first group. And they had to go through two and a half price reductions. So between two and three price reductions for this group. This is powerful data. It's called Claris market metrics. I forget what the cost is. I think it's 1999 or 29.99. It has to be available in your MLS. But this is one thing that we go into every listing appointment with. Very, very valuable. We also use KCM slides. So if there's good KCM slides keeping current matter, we'll print those out. We do an absorption analysis that's in your Dropbox as well. You can even do a hand. We have one in PDF here but we also have the Excel file for here for this is. This is just looking at the dynamics of not their immediate neighborhood but like one level bigger. So we'll look at you know 28203 from 150 to 200. We'll look at the current homes on market days on market, the difference between last year. Then we'll take it down into their specific, specific property. And this is a pretty self explanatory way to go about it. And you have the Excel file in here as well. That exact that exact form in Excel, so you can use that as well. The goal here is to let them know you're not a typical agent. You know what you're doing. This is establishing your authority and your expertise. You're not getting into pricing, but you're just doing a 30,000 foot view of the market and basically you transition. You know, I said, hey, before we get into, you know, kind of what we do, the marketing services that we provide, I want to just give you an idea of what's going on in the market, some of the, the macro drivers that we're seeing right here, not necessarily national level stuff, but here locally, what's going on with housing. So I'm going to go through some, some charts here and give you an idea and that's the lead in to this, this conversation. You want to ask them if they understand, do this often through the process. So the. Does it make sense? As I present, present that one slide, does it make sense? You know what I talked about here, that if we miss the price out of the gate, you know, buyers are pretty smart. They're not going to just overpay for your home. So we'll go through a longer time on market and a series of price reductions. Is that kind of, does that dynamic make sense to you? No, you're just educating them on how pricing works and you want to bring them back to that. Remember when we looked at this chart here and we agreed that there's no magical, you know, the longer your home's on the market, the less you're going to get and the more times we're going to have to have painful conversations around reducing price. So you can always bring them back to that critically important.
