Let’s Talk About Market Knowledge . . .
Start by taking a walk around your office and ask different agents some of the following questions:
- What are the numbers of homes that sell each month?
- What is the average selling price?
- What is the sale price to listing price ratio?
- Do you know the average days on market?
- Do you know how many months of inventory are on the market – known as the absorption rate?
- What is the number of homes listed each month?
Do you know what? First, you’ll be amazed at how many agents don’t know these statistics. Second, you could market these questions to potential sellers as qualifying questions to any agent before hiring them!!! You–ll be one of the few who know the answers!