Know Your Market Well
Garrett and Matt are together again, and for today’s episode, they’re actually together in the same city. They spent some time in-house at a real estate company in Albuquerque, New Mexico, and today’s visit with the Wells Group made it crystal clear to our hosts that “the times, they are a-changin’.”
In the last several years, markets across the country have been consistent and similar to one another. But more recently, different markets are displaying different trends, or those trends are playing out in each market differently. So now is the time for you to be the trusted advisor and outshine other professionals in your market by knowing your local market really well.
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Episode Highlights:
- Know your own market well
- Do the research
- Understand the data so you can prepare your clients
- What you can look for to better understand your market
- Ask questions and erase confusion
Quotes:
“What you’re seeing in the headlines, what your clients are seeing in the headlines, the newspapers, the television shows, will not translate to the local markets… Don’t get caught up in the headlines. Read the data and understand it is different for different places.”
“Every market is so different…and so there’s some research you need to be doing in your own towns, neighborhoods, to understand so that you can paint a better picture. And that may not be a more positive picture in some cases…but to understand a more complete and cohesive picture for that local market.”
“OK, here’s what we’re up against. Here’s what this looks like. And I have a plan on how we’re going to navigate through this.”
“Showing is better than telling… Sit down with a client and really show them what they’re up against and what’s happening in the marketplace.”
“There’ll be less confusion in your own mind.”
“Still got to help people buy and sell homes. Doesn’t matter if it’s great or not; people still need your help. That’s all you need to pay attention to.”
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Garrett
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Matt
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