Do you publish local real estate market reports?
You should! When done correctly, publishing local market reports offers multiple benefits, like:
- establishing you as an authority on the subject,
- building trust with your followers,
- educating buyers and sellers,
- and inviting prospects to contact you.
But too many agents simply list the MLS stats and click publish. That doesn’t accomplish anything.
To reap the benefits of publishing market reports, you need to offer an analysis in a way that makes sense to buyers and sellers.
This post will show you how to write killer local real estate market reports that will generate leads.
Quick note: this post was originally published in July 2018. This is the new, updated version.
Open with a Broad-Stroke Overview of the Health of the Market
Before you jump into the numbers, provide a one-sentence summary of the market over the past month (or quarter or year, however often you publish your local real estate market reports).
All this opener needs to do is talk about the market in terms of buyers and sellers. It should be quick and to-the-point. Almost like a headline.
Examples:
- Austin’s hot seller’s market is getting hotter with no change in sight.
- The Memphis market is slowly shifting in the buyers’ favor.
- Santa Monica real estate is going strong with some good news for both buyers and sellers.
Divide Your Post into Sections
As with any text-heavy post, you want to use headers to divide your post into sections.
We’re living in a world of over-information, and people will give up on your post if they get overwhelmed by a wall of text. You need to break up the wall of text with informative headers to make your content easier to digest. Your busy readers can also easily scan your post to find the specific info they came for.
It makes sense to use the most important metrics as your headers:
- Sales Prices
- List Price to Sales Price Ratio
- Inventory Information (including days on market if relevant)
- Interest Rates
- Foreclosures (if relevant)
Explain the Numbers
Again, you can’t just publish the MLS stats and call it a day. That doesn’t do anything for your readers. Explaining the numbers is the most important factor in writing local real estate market reports that generate leads.
So take a few minutes to explain why each metric matters and what the current numbers mean for buyers and for sellers.
Consider inventory, for example. Here’s a sample of an inventory section of a local market report that is truly useful to your audience:
Twenty-two new listings were added to the inventory of homes available for sale in May. This is down from twenty-nine in April. Lower inventory is good for sellers because buyers are competing over fewer homes. This may be why the list price to sales price ratio is so high currently. Again, buyers, you need to present your best offer the first time. Sellers may not be willing to hassle through counter offers, especially if there’s a competing offer.
Don’t be Overly Formulaic
It’s tempting to write each section with the same formula: Header → why metric matters → what current numbers mean
But that reads like a computer-generated report.
Try mixing things up by adding some relevant longer-range comparisons.
The median sales price per square foot is down 12.2% from $1,263 in April to $1,109 in May, which is good news for buyers. But don’t worry sellers, the median sales price per square foot is still up 3.4% from this time last year.
And throw in a few tips for buyers and sellers related to a metric or two. For example, if you have a high list price to sales price ratio, you could add something like:
For buyers, this high list price to sales price ratio means you need to bring your best offer!
Link to Useful Resources in a Skewed Market
If your local market is skewing heavily toward buyers or sellers, you need to offer resources for the group getting the short end of the stick.
You don’t want your potential sellers reading all about your hot buyers market and leaving your post feeling discouraged. Link them to a resource that provides hope. If you don’t already have a “Tips for Sellers in a Buyer’s Market” post and a “Tips for Buyers in a Seller’s Market” post, create them (or have your content writer create them).
Close with a Call to Action
As with all of your publications, you should close by inviting your readers to take a specific action. In this case, it makes sense to ask your readers to contact you.
Think you might be ready to sell your home? Contact me today for a free list price estimate.
If you’re wary of buyers, you could try to qualify them further before asking them to contact you.
Interested in buying? Take this quiz to see if you’re ready to buy a home (link to a post with questions about credit, income, stability, and pre-approval).
Don’t Forget a Disclaimer
It’s important to state the source of your data at the foot of your post.
It’s also important to remind readers that your source data might contain errors out of your control. And that the numbers reflect a specific point in time. Readers shouldn’t use these numbers in making decisions months from the date of publication.
A simple disclaimer at the foot of your post can cover all of the above.
Figures based on information from California Real Estate Technology Services, Inc. Data is for informational purposes only and may not be completely accurate due to MLS reporting processes. Therefore, we cannot guarantee accuracy. This data reflects a specific point in time, and cannot be used in perpetuity due to the fluctuating nature of markets.
Download a Sample Local Real Estate Market Report
Do you want to see the finished product? Just enter your contact information in the form below, and I’ll email you a link to a free sample report.
Want a Visual Market Report?
The killer market report we’ve been discussing is great for your blog and for giving detailed analysis to your audience. But sometimes, you just want a visual snapshot of the market to catch the eyes of your prospects. If that’s what you’re looking for, you can create your own market report graphic in Canva (Canva’s free plan is excellent, but their Pro plan is well-worth the small monthly fee). If you’re not familiar with Canva, you’re missing out! Check out Canva for Real Estate Agents for a quick introduction.
And if you just don’t have the time, skill, or desire to create your own, you can always purchase an inexpensive market report template on Etsy.
Insider tip: write your killer market report on your blog, and include your visual market report template in your post. Then, when you share the visual market report on social media, have it link back to your detailed blog post to drive traffic to your website. It pays to use your real estate market report as a marketing tool!
