{"id":595,"date":"2019-11-04T17:27:00","date_gmt":"2019-11-04T17:27:00","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2019\/11\/04\/3-ways-data-can-help-you-during-a-buyers-market\/"},"modified":"2025-03-13T02:05:38","modified_gmt":"2025-03-13T02:05:38","slug":"3-ways-data-can-help-you-during-a-buyers-market","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2019\/11\/04\/3-ways-data-can-help-you-during-a-buyers-market\/","title":{"rendered":"3 Ways Data Can Help You During A Buyers\u2019 Market"},"content":{"rendered":"

3 Ways Data Can Help You During A Buyers\u2019 Market<\/h2>\n

We might be in for a buyers\u2019 market over the next year, which means the time is now to start coming up with a game plan so you aren\u2019t scrambling to catch up when the market turns. I\u2019ve already covered some marketing ideas and ways to entice sellers in my previous articles, but now I have some more specific ideas with how to use hard numbers when working with clients. These will take more time and effort, but they are tools you can use again and again.<\/p>\n

<\/p>\n

Find The Right Percentages<\/h4>\n

Agents already know one tactic during a buyers\u2019 market is to go the extra mile to highlight the features of a home<\/a> that will appeal to the widest variety of people. Now is the time to attach data to the best features. Let’s use the example of driveways.<\/p>\n

If it is a neighborhood you specialize in (or plan to) then do a manual count of the number of houses that have a driveway and come up with a percentage that you can share with buyers\u2014e.g. only 20% of homes in this neighborhood have a driveway\u2014so you can demonstrate to your buyers exactly how rare that feature is and show them how lucky they would be to get such a home.<\/p>\n

Rely On Price History<\/h4>\n

Another hurdle when there is a glut of homes for sale is that buyers will take their time because they think a better deal will come along\u2014either the seller will lower the price on a house they\u2019re interested in or an even better one will come on the market. In these situations, I\u2019ve had success by pointing out that even though it seems like there is an abundance of choice, the best deals still move off the market very quickly.<\/p>\n

The homes that will appreciate the most in value don\u2019t hang around even during a buyers\u2019 market (usually they are purchased by a developer who puts it in their rental portfolio while they bide their time until the market turns). Then I back that up with historical data<\/a> by showing them the price and sales history of homes that are similar to what they are looking for but were bought and sold during the last time we were in a downturn. The buyers soon start to see<\/p>\n

Measure Time, Not Distance<\/h4>\n

Since a home\u2019s location is still the top priority most of the time, there is also neighborhood-specific data<\/a> that can help sway buyers to choose a home. In these cases it isn\u2019t a matter of percentages and price histories, but how many minutes it is to places such as a grocery store, subway stop or local farmer\u2019s market.<\/p>\n

It is already common practice to say something is \u2018nearby\u2019 or \u2018just a few blocks away\u2019 but when you\u2019re competing for buyers it can help if you get very specific: e.g. ten-minute stroll to farmer\u2019s market or 15 minutes drive to the nearest large grocery store (with easy parking). The more granular details buyers can learn about a home, the more likely they are to feel in control of their decision.<\/p>\n

I\u2019ve been through many buyer’s markets and the good news is they always turn back around.  The way to survive the next one is to start gathering data\u2014very specific data\u2014so you have more selling tools in your toolbox. Give buyers numbers to remember and you will make your listings more memorable.<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

3 Ways Data Can Help You During A Buyers\u2019 Market We might be in for a buyers\u2019 market over the next year, which means the time is now to start coming up with a game plan so you aren\u2019t scrambling to catch up when the market turns. 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