As their real estate professional, they rely on you for it.īy disciplining yourself to run a local stat just once a month and comparing it to one of the macro stats provided by KCM, your clients will think you are a genius, and on top of what is going on - which you will be. Clients love this detailed information this is what they crave and what they need. Now you can compare your local data to the macro stats provided by KCM to show your clients the truth of what is really going on locally. Then see where the inventory and month’s supply is at, and voila! There you have it. Okay, so how low is it in my market? Easy: Pull up the MLS data for however tight you want to go geographically, or, perhaps, you want to focus on a specific type of property: condos, town homes, single-families, etc. Right now, the big buzz all over the country is low inventory. From there, I run my own stats from the MLS to do a comparison. It’s really easy to do, and one of the tricks I use is to select one of the infographics from KCM that I think my clients will gravitate toward or is a hot topic in the media. Now you need to do a deeper dive for your local market and then show how that compares to the macro level provided by KCM. Subscribers to KCM get access to this information that you can personalize and share, which is great for social media and monthly mailers.īut that’s just the top of the funnel. They put them on beautiful templates, which they call “infographics,” that have amazing designs that get the message across in an instant. KCM releases the updated data on the 10th of every month.
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I trust their data, because they pull it from reliable resources like Zelman, MBA, NAR, Fannnie Mae, Freddie Mac - all of which use different formulas that can vary greatly, but KCM consolidates the data and shows the averages from those resources, providing the most accurate picture. KCM has been around a long time and has really perfected the art of deciphering market data into very clean and concise templates. Those of us who have attended a real estate conference are probably familiar with Steve Harney, the founder of Keeping Current Matters. So, how do you break it down to your local level? First of all, I like to start at the top on a macro level and picture it like a large funnel that needs to get filtered down to the hyperlocal level. As a matter of fact, in my own Chicago market, it is vastly different from neighborhood to neighborhood, block to block or even… building to building! You cannot just throw a large blanket across a market and say it’s the same all over it doesn’t work that way. This is where you can come in to dispel the misconceptions that are out there. However, what may be happening in one part of the country does not necessarily apply to what is happening at home. People see national headlines and hear all sorts of things that are happening across the country, and sometimes they get panicked by it. So, how do we get to “the truth” of what’s really going on in our local markets? As real estate brokers, we need to understand our hyperlocal market, and there are ways that you can slice and dice the data so that you can provide the real picture for your clients in a very clear and concise way. It seems that everyone has a different opinion, but I feel that is always the case no matter how crazy things have been recently. It’s been a roller coaster of a year, and there are a lot of misconceptions about what is really going on with the real estate market.