If there’s anyone who knows a thing or two about paying attention to market data and translating it into useful insights, it’s Steve Harney. Harney is the Founder and Chief Content Creator of Keeping Current Matters. He’s been in the industry for over 25 years, first as an agent and then developing his own 500 agent real estate firm. He now helps producers achieve their true potential, and is seen as a leading industry thought-leader. So how does Steve Harney explain how to be the best real estate agent? He says it’s all about connecting the dots. If your goal is to close more transactions, get more people talking about you and your brand, or power your online presence, you have to know your market. But to be the best real estate agent, you have to know that market and be able to translate your knowledge effectively to your prospects and clients. That means being able to: In other words, connecting the dots for them. When you’re able to do this for your clients, you create the amazing experience that gets people talking and referring and generating repeat business. Here are two graphics that show current market trends. Take a look at each of them and think about which one would make you feel more confident in purchasing a home now: Without even spending too much time reading through, figure 2 makes it clear where the market has been going, and what it might look like in the future. It’s simple to understand. This chart takes the numbers, and connects the dots. This is the type of chart the best agent would provide to their clients and discuss what opportunity it presents to them and what the pitfall could be in waiting too long to buy. Every client is unique, so remember to take their preferences, financial situation, into consideration, but here are a few solid examples to show you the power of translating your expertise into layman’s terms, and help your clients understand “the why.” While market data is readily available online, and neighbors and friends are full of anecdotal data for your clients, they’ve come to you as a trusted expert. So, if you want to be the best realtor and provide the most value, it’s your job to take the market data and translate it into terms that are easy for clients to understand. This means knowing past data, what the current situation looks like and forecasting for the future. This also means applying the data to each client’s unique situation and advising them on timing, making an investment, etc. While many agents tend to leave the client’s financial situation up to the lender, it is helpful for you to have some tips to answer the constant “how much can I afford” line of questioning. Have a solid understanding of the impact of property taxes on the bottom line, what home maintenance might impact, and reminding your clients to consider home maintenance, moving, and utility costs as well. Understanding trends in your market can also impact this. Think about how property inventory may be shifting and what that could mean for prices and resale value in the future. It’s not as cut and dry as the dollar amount someone can spend each month on a mortgage! What does the future hold for your market area or your client’s ideal neighborhood? It’s your job to know, and the best real estate agents make sure they do and they can relay information and make recommendations to their clients. Attend planning and zoning meetings, join neighborhood associations and keep your ear to the ground. Is there a new school coming in? Is a park about to undergo a makeover? Perhaps a long-awaited grocery store is making plans to open in a particular area…all of these things could be great for clients who are looking to invest in an area before prices increase. Stay knowledgeable about the city’s future planning, so your clients can benefit. These are just a few of the ways you can connect the dots for your clients. Every data point an affect their emotions. If you want to be the best real estate agent, you have to ensure they’re happy with your service, and that means connecting those data points and translating them into something they can understand and makes them feel secure and confident. They do all of this because you helped them understand the right decision to make. That’s what the best real estate agents do. Connecting the Dots: Understanding your market and your clients
How the Best Real Estate Agents Deliver
Provide relevant market statistics
Understand your client’s finances & the economy
Stay on top of city and neighborhood planning
The best real estate agents have confident and happy clients
