Here’s One Way to Use MLS Data to Educate People and Restore Confidence

Here’s One Way to Use MLS Data to Educate People and Restore Confidence

By Anne Ross, RE/MAX Times Associate Editor

 

Looking for a way to combat the discouraging economic news in the media and beyond? Here’s an approach to consider.

Three recent real estate symposiums have helped many industry professionals and clients regain confidence in the market in Missouri.

Hosted by RE/MAX Lake of the Ozarks, the symposiums gave attendees a view of national, state and local housing market trends.

“We had talked about hosting this type of forum a few years ago, even before the real estate market changed,” says Frank Christensen (ABR), Co-Broker/Owner of the Osage Beach, Mo., office. “Now our market has softened, and we feel it isn’t because of a downturn in our local economy or a drop in population, but rather due to negative messages in the news media. We believed that we had to do something to change the perception of our market.”

Christensen, Co-Broker/Owner Jeff Krantz (CLHMS) and Broker/Manager John Garrett began pulling MLS data from the past five years for appreciation rates, days on the market, average sales price, number of transactions per year and more. What they discovered supported their belief that the market in Lake of the Ozarks was still doing well.

“All types of properties were appreciating,” says Christensen, a Hall of Fame and Platinum Club member. “It was a modest rate of 8 percent to 10 percent over the past five years, but the value was still going up.”

They began compiling data in December 2007 and held their first symposium in March. The invitation-only event drew 135 attendees from banks, mortgage firms and the Chamber of Commerce. City assessors, civic leaders and property appraisers were there.

RE/MAX Boone Realty Broker/Owner and former National Association of Realtors President Richard Mendenhall offered a national perspective based on information from NAR. Gregory Steinhoff, director of the Missouri Department of Economic Development, provided insight into the state’s condition. Garrett presented the compiled Lake of the Ozarks MLS data and Krantz, a RE/MAX Diamond Award winner and Hall of Fame member, discussed emerging developments and infrastructure in the area.

All of the covered information was available online beforehand, giving people a chance to look it over in advance. The Web site was promoted at the symposiums and also gave people who weren’t able to make it the opportunity to see what was discussed.

After the most recent symposium, which was open to the public, Krantz spoke with a prominent builder who was happy to have data to share with his clients that backed up his long-standing belief in the strength of the market.

Attendees are either relieved at the positive news or glad to reaffirm their confidence in the market, Christensen says. He adds that people now view RE/MAX Lake of the Ozarks as a primary source for real estate advice.

“A builder called the Chamber of Commerce looking for information, and they referred him to us,” he says. “The Missouri Department of Transportation is using the information to prove growth so that they can get initiatives approved.”

The office also hosted in-house training sessions, where Associates were given all of the reports and taught how to use the information. Associates were encouraged to brand the materials with their information so they could present themselves as resources for their clients.

“This would be a great thing for all RE/MAX Broker/Owners to do,” Christensen says. “It really sets you apart from other brokerages and gives you instant credibility in your community – and with local businesses and government officials.”

Sound like something worth starting?

Christensen, Krantz and Garrett offer tips on setting up similar symposiums in your city:

 

  • Make a decision to do it and get started. Begin creating a presentation right away. NAR has national statistics on its Web site, so start there.
  • Enlist your Associates. Get them involved in the planning and development stages so that they can have some ownership in the symposium.
  • Tell the truth and don’t sugarcoat any statistics.
  • Show all the numbers; those that are down as well as those that are up.
  • Visit www.lakeretrends.com and use the format to build your own presentation.

 

Comment on this story
E-mail your thoughts to editor@remax.net. Please include your name, RE/MAX office, city and state. Comments will be added below.

Comments (1)

Any statistics that we can use to help instill confidence in our clients would be greatly appreciated. Graphs and visuals that can clearly outline trends allow us to be at arms length and put the emphasis on “reality.” Choosing an agent is subjective, but quantifiable, hard-core statistics are difficult to argue. Going in to presentations armed with clear and concise data would benefit us all.
– Marti Philp, RE/MAX Professionals, Toronto

 

Copyright © 2008 RE/MAX International Inc. 7/21/08

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One Response to “Here’s One Way to Use MLS Data to Educate People and Restore Confidence”

  1. John Garrett talks real estate with RE/MAX Says:

    […] John Garrett brings 14 years of real estate experience to the table, and has been the managing broker of two different real estate companies during that time and was awarded the RE/MAX Broker/Manager of the Year for the state of Missouri.   John is a member of a sales team that consistently ranks in the top 50 to 60 teams in all of RE/MAX.   John Garrett was one of three speakers at the Lake of the Ozarks real estate symposium. […]

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