We’ve put a great deal of effort in tracking the local real estate markets by comparing 2012 market data to 2011 as a way of predicting the trends for 2013. Now, how can we maximize the benefits of knowing what the trends are? Of course, we’re going to give the information to our Farm, Sphere, Past Clients, Advocates, and either Buyers or Sellers and quite possibly both, but why? Because all of these groups have a vested interest in knowing what will happen with the market for several reasons:
- They own a home and should know if they’re still losing money. (It’s called Consumer Confidence.)
- They’re renting a home and would like to know when the affordability will change.
- Their net worth, ultimate financial security and retirement are directly impacted by the trends.
- The economy won’t recover until the real estate market recovers.
- The recovery in new construction will lead to more employment and decrease the current 8% unemployment rate.
- Their careers and business won’t improve until Real Estate recovers.
- They must know for Business and Planning purposes, (ie; hiring, inventory purchases, equipment investment).
In other words, it makes complete sense for everyone to have a serious interest in Real Estate Trends because they impact every facet of our lives.
Another group of individuals that will most enjoy this information are the people that are analytical by nature. Consider Wealth Management and Financial Advisors, Financial Planners and Accountants. This group can help you achieve great success in Real Estate. Why?
- They are among the most trusted advisors in their clients’ lives.
- They typically know everything about their clients.
- Their clients always ask for their advice before making any big money decisions.
- If they perceive you to be an informed professional, they will refer their clients to you.
Best of all, it’s easy to prospect with this group. They can be reached during the day, there is no such thing as a do not call list, and dropping by their office can be very effective. Just put the quarterly reports in an envelope and attach a letter that says:
“Please review the attached 2012 First Quarter Real Estate Report. If any of your clients have asked your opinion about buying or selling, you may want to consider the data before you advise them. It’s very likely we’re at or past the bottom of the market. We could see significant price appreciation very soon.
I prepare a monthly Real Estate Trend Report for a number of analysts locally, and would be happy to mail or e-mail you a copy each month, with your permission.”
This approach can also be used face-to-face with this group. If you must leave a copy with the gatekeeper, be sure to hand address the envelope, and stamp “Confidential” on it.