As we work to create a “bullet proof” listing presentation, we need to keep in mind the one ratio that provides the clearest insight as to the state of your market.
There are many statistics and numbers used to measure the health of the real estate market. There is one statistic, however, that gives the most current, up-to-date and clear picture of how the market is doing and that is the “pendings vs new listings ratio.”
In this week’s video, I discuss how it’s calculated and what the ratio means. I also challenge you to choose one day of the week to calculate this ratio for your local multiple listing service as well as for your own business. The market could be great. The market could be slow. The important thing is to make sure your ratio is outperforming that of the market.
Inside of the vlog I also explain how being aware of this number can help you differentiate yourself from all the other agents who answer the question that we are all asked countless times throughout the day: “How is the real estate market doing?”
In the near future, I will share with you a second statistical cornerstone that supports the foundation we are building to intensify our listing presentations.
Watch the video now to learn more about a ratio that you need to know and why it matters:
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