This guy asked me, "how's the market?"... Is that a trick question?

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Real Estate Agent with Chris Alston (Keller Williams Realty, Cupertino California) 01338415

Understanding the market

So many ways to get the news nowadays...  The internet, twitter, facebook, foursquare, LinkedIn, ActiveRain, Fox News, CNN, MSNBC, Apple & Droid apps, newsmags, etc...  The list can go on and on and on...  Seems like everyone is an expert these days.

We can search Google for anything we want, and get instant gratification to our endeavors.  Maybe even read incorrect news, but from what we thought was legitimate...  Thus leading to a skewed understanding of the real stuff that is actually out there.

Economists interpret national stuff, and our clients view this as local stuff...

So, if someone asks us, "how's the market"...  Be prepared for the rebuttal to your answer.  Since they may think THEY are experts, and may challenge your response.

So my advice?  Say this, "That is a great question, are you considering buying or selling right now" Then see how the conversation will go from there.

Never get into trying to quantify the actual market, because you may actually loose in their minds.  (remember, they are reading and reading, and may THINK they know more than you do)  Instead talk about what the market looks like for them in their particular situation.  Say they need to sell, help them understand what it will take to get their home sold in this market.  Say they want to buy, show them the advantages of buying in this market.

Now, I am not an economist but I do track stats daily.  Even with that knowledge, I try to stay out of interpreting the national economists.  Instead, I stick to what I do know...  The local market.

What do you do in this type of situation?  I would love to hear all ideas! 

:)  -Chris

Posted by

 

Chris Alston

 

Home sales and purchasing specialist

Keller Williams Realty, Cupertino

19400 Stevens Creek Blvd, Suite #200

Cupertino, CA 95014

408-850-6955

408-850-6956 fax

calston@kw.com

www.LivePlaySiliconValley.com

 

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Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Thansk Joshua!

December 07, 2010 09:27 PM
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Eric Michael
Metro Detroit Real Estate Professional 734.564.1519
Remerica Integrity, Realtors®, Northville, MI

I try to answer "That all depends. Are you looking to buy or sell?" Gets the ball rolling. We're saying the exact same thing either way. Thanks, Chris!

December 08, 2010 12:57 PM
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Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Eric - Great way to respond to that!  :)

December 08, 2010 01:06 PM
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Todd Clark
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
Keller Williams Realty

You are right, 90% of the time it is a very loaded question, that is for sure. You questioning them if they are planning to buy or sell is a great one because your answer really depends on how they answer you.

December 11, 2010 02:33 AM
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Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

So true Todd, so true!

December 14, 2010 12:25 AM
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