| By utilizing the resources that are already available, | | | | changing marketplace. |
| we can set ourselves apart from other Agents. We | | | | You can secure valuable statistics and information |
| have a large pool of resources that we can easily | | | | from your local MLS as well. The MLS can give you |
| access, but few Agents do. We merely need to | | | | key market stats such as:o Days on the market |
| have the right questions, and then contact the right | | | | averageso Inventory levels of active listingso |
| people. | | | | Geographically active markets inside your service |
| The first group to access is the local board of | | | | areao Active markets based on price point inside |
| Realtors®. We need to learn from them: | | | | your market areao Listing price verses sales price |
| 1. The number of Agents in the marketplace | | | | ratioso Listings taken verses listing sold ratios |
| This information will help you calculate per Agent | | | | All this knowledge is really a phone call or a few |
| productivity, average listing per Agent on the board, | | | | keystrokes away. In some MLS areas, your Broker |
| and segment stats in your core geographic area | | | | will have to generate these numbers because they |
| based on Agent production. You can also see the | | | | have access to more information than you do. Most |
| Agent count and find out if it's growing or shrinking. | | | | MLS systems restrict what the Agent can assert. |
| Showing your prospects that their odds of selecting | | | | National Association of Realtors® |
| an ill-equipped Agent is either moving against them or | | | | Some of the most valuable and least used services |
| for them. | | | | that NAR provides are their reports, market studies, |
| 2. The average production of Agents in units and | | | | and analyses of the national and regional real estate |
| volume | | | | markets. They issue reports and studies on every |
| You will be able to compare your performance to the | | | | segment of real estate sales like; second home |
| new Agents and other Agents in the marketplace. It | | | | markets, investment property, an annual homebuyers |
| will allow you to segment production into the top ten, | | | | and sellers report, Internet popularity in real estate |
| twenty, or fifty Agents in the marketplace. Knowing | | | | sales, and many others. |
| where you are in comparison to the other Agents | | | | They also conduct studies and surveys of home |
| you compete against is essential. You might not be in | | | | sellers and buyers. They probe into why people |
| a favorable position once you know the stats. You | | | | selected a certain Agent, consumer satisfaction levels |
| will then have to sell something else as valuable when | | | | of their Agents, home amenities that buyers want |
| up against higher producing Agents. | | | | most, what services consumers want from us, and a |
| 3. Experience (in years) of Agents on the board | | | | host of others. |
| Most boards keep exhaustive studies on this area. | | | | This knowledge, in the hands of a Champion Agent, |
| For some reason, the public is swayed by experience. | | | | can easily be used to build credibility and trust. It will |
| The funny thing about that is an Agent with twenty | | | | clearly provide value that will be unmatched by your |
| years in real estate could have one year of | | | | competitor. Most Agents are unaware of these items |
| experience twenty times over. | | | | I have listed. It's the least used and best service, in |
| 4. Percentage of licensees that would be considered | | | | my opinion, that NAR provides. |
| part time | | | | The information is available for you to utilize. Set |
| This number, coupled with the experience number, | | | | yourself apart by doing what few Agents do and |
| can be used to illustrate to a prospect the transient | | | | access the resources that are available. This |
| nature of sales people in the real estate industry. This | | | | information will link you to knowledge and credibility in |
| statistic is extremely effective in building trust in a | | | | your prospects' eyes. |