A recent survey of RP Data customers found that more than 71% of respondents are already using the Market Compare Report on RP Professional to help boost their commissions.
We showed you how the Market Compare Report clearly presents your area’s comparable days on market and percentage discounts of listings. In this post we’ll take you through the best ways to use this valuable information in various scenarios.
Scenario One: Imagine you’re the last agent in to appraise a property
You know its likely selling price range and have provided clear comparables, but the vendor has been presented with a wide range of values. The Market Compare Report clearly presents the facts and also helps the vendor understand the real market price. Properties that are clearly overpriced commonly have the longest days on market and the largest discounts. You can compare their average days on market with your agency’s track record as evidence of your expertise.
Scenario Two: The vendor’s expectations of the selling price is too high
Perhaps you’ve been offered a listing but the vendor’s expectation of the selling price is too high: the market has moved, the buyer band has dropped, and you need at least 5% price reduction to get the place to sell. By showing the suburb’s percentage discount, you can achieve that reduction and make your sale.
Scenario Three: Prospecting opportunities
Vendors change agents when their properties don’t sell, and exclusive agreements expire. Knowing every listing in your target market area and how close they are to expiry will give you every opportunity. Can you afford to be without the Market Compare Report?
In a future blog post, we’ll take a look at the AVM function of RP Professional. In the meantime, try the Market Compare Report out for yourself via RP Professional! For more information, check our Getting Started Guide, contact us on 1300 734 318 or email [email protected] to sit our advanced real estate workshop, either online or in the classroom.