Sharing your market research to build prospect relationships

The use of key statistics, such as list price to sales price ratios, days on the market averages, and absorption rates, demonstrate your mastery of marketplace knowledge. It also creates a competitive gap between you and your competition by establishing you as the one who can use market forces to your client's advantage, raising the probability of a higher sales price, a shorter the time on the market, and increased net proceeds.

To put your findings to work, do the following:

¡ Use your marketplace knowledge to prompt prospects to act now instead of procrastinating until a time when market conditions may not be so ideal.

¡ Share your market analyses as a way to stay in contact with past clients and others who can positively influence your business. Most of these individuals already own real estate, so they're "vested" and interested in the local marketplace. For many, their single largest investment asset is their home. They care about the market's equity position and appreciation. What's more, most aren't in their final home for life. They at least secretly wish for a better house in a better neighborhood. By establishing and reminding them of your expertise, you place yourself in position to counsel them on future home or investment property purchases.

¡ Quarterly, assemble and mail your most recent statistical findings to your business contact list. While other agents are sending out recipe cards and other trash and trinket items, you're sharing something of real value: the state of the real estate market and the state of your recipients' major financial holdings — their homes.

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