It is always time to keep your clients informed about your real estate market and there is no easier way to do it than to use this Market Report. After all, maybe they are thinking of listing and want market information, or maybe they think it is a good time to buy. Or, maybe they just want to know what is going on in the market. You need to be their market expert.
With this Market Report you can convey accurate, easy-to-read and simple-to understand data on your real estate market.
That means it is the ideal time of year to prospect clients by presenting yourself as a knowledgeable expert on the market’s and pick up some valuable leads for the Spring market.
With this Power Marketing Market Report you have exactly the POWER TOOL to be that expert. Here is what you have to do NOW.
For now, only focus on ONE REPORT. Your Market Report Power Tool allows you to make as many market reports as you want, but we strongly recommend you start with just one. After you get the hang of how easy it is to Make a Report, you can create as many as you want for as many markets (i.e. Anytown, USA) and categories (i.e. Single Family, Condo). But first enter the data for ONE CATEGORY for ONE MARKET.
Log in and go to the Menu Bar. Click on “Enter Data.” A drop down menu will appear. Choose “Market Report.” You will now come to a page titled “Set up a New Report” where you will be asked for the information you want to appear on the Title (or Cover) Page of your report. Put your cursor into each box and a Pop Up Menu will prompt you with the information to enter into each box. You do not have to fill in all of the boxes, but whatever you do fill in will appear on the Title (or Cover) Page of your Market Report. Don’t worry about making this perfect. You can “Edit” this data later, but enter at least the basic information now. Later, you will have to create a Title Page for each report you create, but for now you are only doing one report. Once you enter this data for each report, you will not have to enter it again, but you can always edit it.
Under “Period Covered” we recommend you enter the period this report covers, i.e. “Year Ending December 31, 2011” or “Quarter Ending March 31, 2012” or “YTD June 30, 2012” or “YTD through September 30, 2012.” Whatever you put into this box will appear as the subtitle of the report for the geographic area you have chosen. You can also say something like “Single Family Market for Year Ending December 31, 2011” if you want to specify the category within the geographic market covered in this report. When you are done, click the yellow “Enter” Tab. The new report will drop below into the “Past Market Reports” library and you will automatically move to the next page to do your Data Entry.
Note that the next page will have the title you chose for your report at the top. Now you have to enter the data for that report. There are two sets of data to enter. On the left you have to choose (1) the period covered and on the right (2) the “category” of data within the market, i.e. single family, condos or the whole market (which can be “Combined.”)
RE: Period covered: WE STRONGLY SUGGEST YOU START YOUR REPORT BY ENTERING YEARLY DATA FIRST.
Why do we recommend this? The beauty of this report is its perspective. That perspective comes from taking what is often highly volatile quarterly data and putting it into a 5 or 10 year perspective. This helps you to be more than just the provider of quarterly data. It helps you to become the consumer’s calm market expert and interpreter of that data, someone who provides a long term perspective (for a long term investment). It thus helps to set you apart from other agents. Quarterly data is abundant in the market, but your report, by taking that data and providing perspective will give the consumer the framework within which to make sense of the data. For this reason, we strongly suggest you enter the yearly data first. Once you do, you will see in your first draft the wonderful perspective and depth the report provides. The charts will come alive.
Thus, under “Period” choose “Full Year.” Whatever the current year is, i.e. 2012, start by entering the prior year’s ending data from your data source, probably your MLS. Or if you don’t have the prior year’s data just yet, enter the year before that, i.e. 2010, 2009, 2008, etc. Once you enter this yearly data, you build upon it by later entering the quarterly five pieces of data for that report. Then once you will have built your report, you never have to build it again. It will all be saved for you and you will just enter the Current Quarter’s five pieces of data below.
From your data source (probably your MLS), you must research what is your year-end “Median Price,” your “Average Price,” the “Number of Unit Sales,” the “Volume of Sales” and finally the number of “New Listings” for that year. All of this data is found in your MLS. Once you know where to find it, it will be easy for you to retrieve this data every quarter and enter it. It is probably online and a quick call to your local MLS should help you to zero in on these important five pieces of data. Once you get accustomed to where you can find this data, doing this report every quarter will be a snap. All you will do is go into your report, change the Period covered and then enter the five pieces of quarterly data. Your Power Tool Market Report will build on the data you enter.
On the bottom of the screen you will now see the data you entered. You should enter the year prior to the one you just entered, i.e. if you entered 2011 full year data, enter 2010 full year data. When you have entered the next year’s data, click “Enter.” The data you entered will appear below on a new line for that year.
Continue entering this yearly data until you have at least 5 years (preferably 10 years) of data. You will begin to see your report grow right in front o f you. Again, do not worry about the quarterly data just yet. First build the yearly perspective into your report. You can stop at any time and come back and edit your report and enter additional data. You can also change the data should you find you made a mistake. But once it is entered into our system, you never have to enter it again as long as you are a subscriber.
After you have entered 4 or 5 years of data, click on “View Report” to see the beginnings of your fabulous new report. The report has two sections: the graphical section that comes first and then the Year over Year data section at the back. (People are much more visual and therefore appreciate your report coming first in the form of sharp graphics.)
Now, at any time you can go back and make changes to your Title Page or your Data. Just remember that on your first page is the name of the report you are working on. When you start doing multiple reports, do not confuse your reports, i.e. your Single Family Report with your Condo Report for the same market.