Build Your Own “Real Price Report”

Image of cash and gold.At open houses, you’ll often find that people are wary of providing you with their contact information for fear you’ll begin sending them overwhelming, self-promotional “market trend” reports. While the data in the report might be useful, most prospects will view this as one more form of noise or information overload.

The problem with these reports, frequently manufactured from broad market data, is that they do not speak to the specific neighborhoods, business corridors, and local microtrends that actually impact listing and sales prices. They often fail to make a genuine, local connection. Sometimes they can do more damage than good, because your name becomes associated with one more form of “marketing noise.”

Here is where your opportunity exists: When you’re at an open house, let visitors know that they don’t have to provide any information unless they are interested in the “real price report” you publish periodically that lets people in specific neighborhoods know about changes relevant to their home’s value.

Ask them where they live– get the specific address (conversationally) and have them describe the location. From here, you can enter into a conversation about where they live and what you currently know about their neighborhood. It’s important to tie prospects to zip codes and/or specific neighborhoods, because the only opportunity you will have to capture their interest down the line will be if the report you send them is immediately and locally relevant.

Your goal here is to eventually have enough leads in a given area that you can reasonably publish a “real price report” for a very specific geography. The real price report is brief, explains exactly the boundaries it covers, and informs readers about differences between asking and sales prices as well as any events which have or may soon impact values. Don’t worry too much about design; focus on making your report short, specific, and insightful.

In a given quarter, you may shoot for producing one to five of these hyperlocal “real price reports” for contacts in your database. Get the conversation started and get local!

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