PROView - June 2008 - (Page 17)

Statistics Are You Taking Advantage of the Power of Statistics? How Members Put Statistics to Good Use by Michael Pleasant, Technical Writer & Statistics Specialist “I think we have the best stats! I love using them in presentations. You don’t get stuff like this in Hillsborough, Pasco or Manatee!” Sabine Niehaus, agent with RE/MAX Action First in downtown St. Petersburg is referring to the comprehensive statistics report package produced monthly and quarterly by the Pinellas REALTOR® Organization (PRO) and posted exclusively for members at www.tampabayrealtor.com/stats More than fifty individual reports are included within the categories of: • MLS Barometer • Marketplace Statistics Trends • MLS Activity by Area • Pinellas County • Tampa Bay Area • Median Price • Membership We often hear from members how important it is to have access to accurate statistics when discussing market conditions with customers as they will want to know what prompts a proposed sales price. Many are those who tell us that they use statistics and PRO’s marketplace analysis to prepare themselves for a listing presentation as they anticipate discussing an appropriate price level. An agent who consistently keeps an eye on marketplace fluctuations is Mark Wells, sales associate with Charles Rutenberg Realty, Inc. in Clearwater. He signs into the PRO statistics website two or three times weekly to view the MLS Barometer reports in order to “get a quick snapshot of the pulse of the Pinellas Real Estate market.” Wells says that his use of PRO statistics reports often serves as verification to know the current conditions of the Pinellas County real estate market. According to Wells, statistics reports are also helpful when communicating electronically, not the least with customers from other countries. He mentioned a recent case when he showed a presentation based on PRO statistics to a client from Prague, Czech Republic. “Using PINELLAS REALTOR® ORGANIZATION numbers and graphs as opposed to verbal explanation really helped bridge the language barrier,” he said. Nannette Abney, Manager of the Residential Division at Coldwell Banker Wikle Properties in Palm Harbor, looks at the monthly Marketplace Trends reports to see what the total sales and listings are for Pinellas County. She uses those numbers along with the current number of PRO REALTOR® members to determine how many deals are being made per agent. “It’s very important to keep our team of sales associates motivated and positive.” At sales meetings, Abney said, she shares these statistics to reinforce the good job agents are doing. “When agents are doing above average production, even though the numbers are less than they were in 2005, it gives us something to celebrate as we are able to show that we in fact are ahead of the market curve.” In addition, Abney looks at the monthly MLS Activity by Area reports to find out what the sales price to list price (SP/LP) ratio percentages are for specific Suncoast MLS areas. “SP/LP ratios show what sales concessions were made.” She further discussed how the MLS Activity by Area reports give the REALTOR® “the knowledge and statistics to show sellers what homes are listing for in the area on average and how many days on the market, and what the average sale price is and the number of days on the market.” Asked how that typically helps agents, Abney pointed out that not only does a seller reach a reasonable expectation of what the listing price should be, the seller also sees the REALTOR® as a trusted and well-informed professional. Paulette Hadley, Broker Associate with RE/MAX All Star in Madeira Beach, uses the absorption rate from the Marketplace Trends reports and the Pinellas County Month Supply of Inventory (MSI) reports for sellers wanting to list their homes. “Absorption rate and the month supply of inventory data and charts are plain, simple and easy to understand; and they help to explain to sellers that they cannot get yesterday’s prices today.” Many of our members often mention how essential it is, now probably more than ever given our current market conditions, to educate their sellers about appropriate price levels. MSI reports they report using extensively are the Pinellas County Condo and Single Family Month June 2008 17 http://www.tampabayrealtor.com/stats

Table of Contents Feed for the Digital Edition of PROView - June 2008

PROView - June 2008 Contents Chairman’s Notes Sustainable Lifestyles Greening the Not-So-New House Green Renovation Checklist Green Building Tips Going Green PROActive You Have 30 Seconds to Prove Your Value Marketplace Analysis Home Sales Report PRO Biz Calendar of Events & Programs New Members and Affiliates

PROView - June 2008

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