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Chairman’s Message: Build Your California Market Knowledge for Greater Advantage

Quincy Virgilio: MLSListings Inc 2018 Chairman

Quincy Virgilio
2018 Chairman, MLSListings

How much do you know about other real estate markets beyond your own geographic boundaries? Too often, as professionals, we immerse ourselves in our home market because it’s where we are transacting the majority of our business. We understand the limitations of helping a client purchase or sell a property in another city or state – or even country – so we often limit our market research to where we do business.

Our clients, however, are buying second homes, moving for new jobs, or retiring to new communities away from where they’ve lived their lives. If we’ve established the sort of close relationships that we should with them, they will still look to us for information, advice and guidance when they explore a real estate transaction that is beyond our market boundaries. This is where your value – and competitive advantage – comes into play.

Certainly, public sites have an abundance of information available to the consumer, so what you have to offer must be of greater value. Fortunately, the amount and type of data that real estate professionals have proprietary access to provides a distinct advantage. Coupled with that is your ability to interpret the data and provide a thoughtful analysis that can ultimately help inform a smart buying strategy. While you wouldn’t sell a home in San Diego if you live and work in San Jose, you should be able to answer questions about that marketplace for a client who is considering buying a home there.

MLSListings shares data among a number of multiple listing services and 85% of the listing data in California can be found in MLSListings and is readily accessible to subscribers. Moreover, the data is updated in real time for accuracy you can count on, versus public sites which are continually challenged by the problem of old or inaccurate data. This enables you to be a reliable source of information for clients regardless of where they are looking in California.

It’s important to not misrepresent yourself as a neighborhood or market specialist, but rather as a resource for information that can be helpful to them as they explore purchasing a property in another community. The power and value you can promote is your access to real estate information across California and position yourself as the “go to” resource for your clients in this way.

Understanding how to access and interpret the data available to you through MLSListings is not just advantageous with your clients, but it can also position you as an information expert with peers. As you become familiar with a particular market on behalf of a client, you should extend your research efforts to include looking at agents’ or brokers’ sales history and other key data in that market. By forging a relationship with a qualified professional, you can make a referral that takes care of your valued client and perhaps yields a reciprocal referral in the future.

Get started by contacting MLSListings today and talk with one of their data experts, then spread the word to your clients so they know about this additional advantage you offer as their trusted real estate professional.

 

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