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<\/a>responds, “inventory, yup, it’s up.”<\/p>\n\n
It would be easy to fool or intimidate\u00a0an audience\u00a0when the mouthpiece is someone of notoriety or someone deemed an expert in a particular field.\u00a0\u00a0A discerning\u00a0individual<\/strong> should\u00a0be wary of\u00a0anyone who quotes percentages about anything. Challenge\u00a0him.<\/strong> “Sir, could you send me the back-up or source data on that which you just quoted?”<\/p>\n Thus, if a Realtor makes a public or written statement regarding the market or market trends, he needs to be prepared to substantiate his claims. Because of\u00a0a Realtor’s “expert” status, It is extremely important\u00a0that\u00a0he\u00a0back up<\/strong> his verbal data with written proof <\/strong>— especially with GEN X and GEN Y. A quick e-mail with a link<\/strong> to the source or report will give\u00a0him\u00a0a valid\u00a0reason to reach out and touch\u00a0his sphere and further boost\u00a0him up the credibility ladder. “Sir, if you would\u00a0like, I will e-mail you those reports since we have been discussing that area of the market.”<\/p>\n In a prior post<\/a> we examined Facts & Trends\u2122 and how\u00a0knowing these\u00a0stats boosts our credibility at any social gathering or listing presentation.\u00a0 There is a “statistics” area in MLXchange that\u00a0can arm you with additional and\u00a0useful information.<\/p>\n MLX Statistics in General Searches:<\/strong><\/p>\n Whether you are researching an area<\/strong> or an agent<\/strong> (even yourself), MLXchange statistics will generate reports and charts based on your search criteria\u00a0which can be saved as a pdf.<\/p>\n After you have typed in your search criteria, click on the results button to obtain your grid.\u00a0 You will find the statistics button at the bottom right of your screen.<\/p>\n <\/a><\/p>\n Click on the the statistics buttom, and you will get\u00a0all the report options to your left.\u00a0 This first report is a Market Analysis Report based on\u00a0your search criteria. You can see that\u00a0SP\/LP ratio* is the next to last column on your right.<\/p>\n Knowing\u00a0that listings are often re-listed, beware that these numbers may be askewed.\u00a0 In Facts & Trends\u2122, however, there is an “original list date to sales price ratio” in the printed version of the form only.\u00a0 This would pertain to the much broader criteria selected in Facts & Trends\u2122.\u00a0 In MLXchange, you have the capability of slicing the pie a little smaller.<\/p>\n Note that you may save any of these forms to pdf for printing.\u00a0 Some of the charts are quite colorful and would really present nicely.<\/p>\n Agent List-to-Sell Ratios:<\/strong><\/p>\n If you are new to the business, you will not have a list-to-sell ratio* track record.\u00a0 At some point, if the numbers are in your favor, you will want to include this as part of your sales background.\u00a0\u00a0Posing the question and the answer\u00a0to a\u00a0Seller when he did not even know there existed\u00a0a question might get you the listing.\u00a0\u00a0He may pose the question to your competition, “Now, what is your<\/strong> list-to-sell ratio?”\u00a0 If the Seller gets the “deer-in-the-headlight” stare, this could be one more brownie point for you. If you knew your competition, you have already looked up his stats\u00a0for your own edification.<\/p>\n If your list-to-sell ratio is in the 90 percentile, you’re doing great.\u00a0 Even if the price has been reduced again and again in your previously listings, it means that you are on top of your business and have kept your Seller informed and obtained the right reduction to make the home move. That’s why it is a good idea to keep your Seller on auto-notify so that he is ready to sign the price reduction paperwork before you even have the conversation.<\/p>\n When you are searching your own statistics, it is good to start in cross-property search so that all your business is\u00a0included — or you will have to do separate searches for single family, condo, etc. It is easier to do just one search through cross property and the graphs will reflect your numbers in one report.<\/p>\n Here are some additional report samples – I have eliminated the search criteria that will appear at the bottom of every report to save space:<\/p>\n<\/a><\/p>\n<\/a><\/p>\n