Looking Out From the Garage: How Good Are YOUR Market Reports?

How Good Are YOUR Market Reports?

I ask myself all of the time... 

  • How good are my market reports? 
  • Are they compelling? 
  • Why should a buyer or seller read MY market report instead of one of the hundreds of other reports out there?  
  • Am I providing value? 
  • What do consumers want in a market report? 

I am specifically NOT leaving a link to one of my market reports in order for everyone to grade it.  Rather, I would love to hear about what YOU think makes a great market report... whether you are an agent, broker, consumer or vendor. 

What makes a great market report?

Find YOUR Dream HomeWhat's YOUR Home Worth?How's the Market?

Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

I'd love to hear from you...

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Comment balloon 9 commentsLane Bailey • January 09 2012 10:51PM

Comments

HI Lane - There are no really BAD market reports, as long as they are accurate, but in my opinion, the most helpful ones are ones that show market trends in an area.  I usually have 3-4 graphs reflecting trends with a different focus in each one, and covering the last 15 months.  That wasy you can really see if prices are going up, inventory going down, or whatever.

Posted by Susan Neal, Fair Oaks CA & Sacramento Area Real Estate Broker (RE/MAX Gold, Fair Oaks) almost 7 years ago

Lane, I'm with Susan, there are no bad market reports.  Any information that can be shared with the public has to be helpful. when I do them, which is not often.. I pull even the FSBO info from the tax assessor's files and use that info.. so that they are more accurate. 

Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) almost 7 years ago

As an contractor who views market reports a little differently then those in the business of selling properties, my attention needs to be grabbed. I see a lot of reports here, I look for good graphic, a story that relates to the report or trend. There have been market reports that I have suggested here, they were that good. For the most part, I click out if I'm not grabbed right away.

I know that the reports aren't aimed at me, and I believe that there are no bad reports.

Thanks Lane.

Posted by Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366, General Contractor, Dry Rot and Water Damage (Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366) almost 7 years ago

I think a great market report is made by the comments attached to the data ... an understanding of the data and good explanation is what makes it in my opinion

Posted by Lehel Szucs, REALTOR of choice (All Seasons Real Estate, Inc.) almost 7 years ago

I'm reading the comments and refraining from presenting my opinion... Of course, those that read my blog when I ws posting 10x a week know that I have a few opinions...  ;^ )

Posted by Lane Bailey, Realtor & Car Guy (Century 21 Results Realty) almost 7 years ago

Bad reports are ones that don't provide enough information or that provide information that doesn't help people make a decision on the area they're considering.  Also, as stated before, if they cover too large of an area to be meaningful.  If you have regular traffic to your reports and positive feedback from your readers, you're probably doign a great job. 

Posted by Rich Cederberg, eXp Realty Agent Albuquerque (eXp Realty) almost 7 years ago

I used to think detailed reports full of numbers to compare where the best, that is what I would want.  However, I realize that most people do not want that and cannot understand it.  I try to focus on one particular number or stat; it also needs to be something designed to drive the prospect (reader to action).  

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) almost 7 years ago

I guess I can start tossing my opinions out... 

There are TONS of bad market reports.  Most are well intentioned, but they don't accomplish anything.  I read a fair number of reports, and one of the biggest issues I see is with reports that give no history or perspective. 

Saying that there were 3 new listings in the last month and there were 2 sales last month might be GREAT... or it might be horrendous.  Tell me how many sales happened the previous year and the month before.  How many homes are on the market? 

Also, since WE are the ones that should be looking at the market constantly, what we think the market is doing should be pretty valid... especially if we keep track and we're transparent about our prognostications. 

I also like detailed reports, but with a bottom line, where a consumer can glance through and see what they want to see... but if they want more depth, it is available. 

Area is tough... it needs to be broad enough that it has results that are meaningful, but small enough that the results are still meaningful. 

Any more thoughts? 

Posted by Lane Bailey, Realtor & Car Guy (Century 21 Results Realty) almost 7 years ago

I think that market reports need to have an opinion and be more than just numbers.  Market reports that are just numbers are boring to me.  What's the area like?  Why would people buy there? Is there a reason prices are going up or down? Things like that make market reports more interesting to me.

Posted by Jen Bowman, Realtor - Anna Maria Island & Bradenton FL (Keller Williams on the Water) almost 7 years ago

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