The Value of a Market Report

By
Real Estate Agent with Beringer Realty

Market DataThe Value of a Market Report

It’s been a few months now since I began writing real estate market reports for my local area. Now I do them on a weekly and monthly basis, keeping the weekly reports brief and expanding on the monthly ones.

I realized as I was doing last week’s report, that I now have an entire collection of market reports for Champaign-Urbana, Illinois. Since I’ve been including the link to the previous week’s report at the bottom of each of these blogs, it is easy to pull up months-worth of these statistics side by side in tabs on a web page. And why is this significant (in my opinion)? Because you can then compare them and see TRENDS. Anyone, not just a real estate agent, can pull up these reports side by side and very quickly learn about the real estate market in this area. Even my Dad who lives in North Carolina can have intelligent conversations with me on the phone discussing my market area because he reads these reports that I've written. (p.s. Dad, thanks for reading!)

The first few reports I’ll admit took quite a bit of time. And even though it takes far less time now that I’ve created my own template, I’ve considered how it might be nice to have a partner who would take on this responsibility occasionally when things are busier. But having someone else write these reports would take away their value to me. The simple act of researching these numbers, then writing the report—and realizing the TRENDS—is all too important an act to hand off to someone else.

By doing these reports myself on a weekly and monthly basis, I have truly become the expert on my local market data. I know exactly what’s going on in real estate in my area because I’ve committed to learning.

Many of you here on Active Rain already do market reports for your areas on a regular basis. So this blog is to encourage those of you who aren’t doing them yet to give them a try! In my opinion, it’s time well-invested for both you and your clients.

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Shannon Lewis is a Realtor® and broker at Beringer Realty located in Urbana, Illinois. She and her partner, Debbie Hensleigh, help home buyers and sellers in Urbana, Champaign, Savoy, and many other surrounding communities.

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To contact Shannon with a question, for real estate assistance, or just to say "hey!":

call 217-552-8059, or email Shannon@HomeplaceAdvisors.com

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Rainmaker
230,389
Shannon Lewis
Realtor, Broker - Champaign-Urbana, IL
Beringer Realty

Tammie- Awesome, wish I could take credit for coming up with that idea, but I'm certain I learned it from someone else here on AR! The link makes it easy for readers to compare past reports, and I'd imagine it helps with your Google juice, too.

September 02, 2010 12:58 PM
Ambassador
1,069,462
Bryan Robertson
Innovator, Writer, Speaker
Catarra Real Estate, Inc

You've hit on something I find both offline and online, people love statistics and trends.  If I can tell a prospect exactly what has been happening in the market the last year or two, they'll skip Trulia or Zillow stats and call me. 

September 02, 2010 01:03 PM
Rainmaker
230,389
Shannon Lewis
Realtor, Broker - Champaign-Urbana, IL
Beringer Realty

Bryan- now THAT'S cool. The ability to be the go-to source of information over Trulia or Zillow. This should be a goal for each of us producing market reports for our local areas.

September 02, 2010 02:40 PM
Rainmaker
364,976
Russell & Tracy Lee Parker
Experienced Property Managers Since 2006
RE/MAX Dallas Suburbs

Shannon, every since Donna Harris started the Market Report Challenge I have been researching here on AR , trying to get an idea of how to do them and I found yours. I love the pie chart on what looks like a local picture of your area. Can you tell me how to do that ? (I am a very busy person and I need quick and easy but good reports, like yours) Anything you can share I will appreciate SO MUCH!

September 26, 2011 10:03 PM
Rainmaker
230,389
Shannon Lewis
Realtor, Broker - Champaign-Urbana, IL
Beringer Realty

Hi Tracy, glad you found my post! I'm going to send you a private email with some basic instructions, but feel free to contact me if you need more help!

September 27, 2011 04:14 PM
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Shannon Lewis

Realtor, Broker - Champaign-Urbana, IL
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