PROView - October 2007 - (Page 14) MLS UPDATE How to Make Statistics Work for You by Jan Dean, Director of Information Services It’s an hour before your listing presentation. Armed with a CMA, your personalized marketing package, and detailed information with colorful graphics on how you plan to market and sell a certain property, you head out the door to meet with a prospective customer. All good things, but these days, given our very challenging marketplace, you will probably need to provide more detailed information about the many factors that influence the likelihood of a sale within a specified period of time. Simply put, you need market statistics. Absorption rate, median sales price and marketplace inventory – all are necessary figures to back up your discussion with a customer about setting a realistic price. Typically, gathering such data can be a daunting task. Well, that’s until you access the materials you are provided as part of your membership in PRO. Here are two ways you can enhance your knowledge about your local market. Statistics Provided Online Easily available at the PRO website, www.pinellasrealtor.org, you have access to market data and trends that gives you the cutting edge information and positions you as the expert on the specific market you serve. An MLS barometer gives you information about average days on market and long-term and monthly data on status changes, including active and expired listings as well as price changes and the number of sold properties. You can also easily access reports on median price levels and marketplace statistics with detailed trend reports individualized for overall listings, single family homes, and condos. Providing additional assistance on to how to access these reports, an explanation of all statistics tools is available to you online. 14 PINELLAS REALTOR® ORGANIZATION Statistics Provided in Person Reading statistics can be somewhat overwhelming. Even more so, selecting the most compelling information out of graphs and charts is further challenging. Personally, I am one of those people who tend to initially shudder when I hear the word “statistics” . That’s why we host the member seminar Market in Motion several times annually. Available to illuminate the concept behind the numbers is Ann Guiberson, PRO President and CEO, who provides a comprehensive overview of just-released market statistics. Presenting in-depth explanations about each report, Guiberson gives you the essential information you need and tips on how to use the report data to analyze market trends and further discuss them with your customers and sphere of influencers. If you are unable to attend the Market in Motion meeting, you can also review what was discussed by going to the Realtor 411 option on the PRO website and choose the Market in Motion overview from previous meetings. The continued development of the statistics we provide and the manner in which we provide them is an evolving process. In fact, one of our current objectives is to provide statistics in a more userfriendly presentation. A member task force has provided essential input as to what features and upgrades would be beneficial to the statistics we provide our members. Suggestions have included a consistent layout, separating single family and condo charts and allowing members to create individualized reports they can easily give to their clients. Please stay tuned for news on when these new features become available. Assistance is only a phone call away. If you’d like further explanation about our marketplace statistics, please contact Michael Pleasant at (727) 216-3036. October 2007 http://www.pinellasrealtor.org http://www.pinellasrealtor.org
Table of Contents Feed for the Digital Edition of PROView - October 2007 PROView - October 2007 Contents Chairman’s Notes Feature Story ProActive 2007 Annual Membership Meeting and Luncheon Marketplace Analysis Home Sales Report MLS Update MLS Upcoming Events Calendar of Events & Programs PRO Biz Welcome New PRO Members Welcome New PRO Affiliate Member News PROView - October 2007 PROView - October 2007 - PROView - October 2007 (Page Cover1) PROView - October 2007 - PROView - October 2007 (Page Cover2) PROView - October 2007 - Contents (Page 1) PROView - October 2007 - Chairman’s Notes (Page 2) PROView - October 2007 - Chairman’s Notes (Page 3) PROView - October 2007 - Feature Story (Page 4) PROView - October 2007 - Feature Story (Page 5) PROView - October 2007 - Feature Story (Page 6) PROView - October 2007 - Feature Story (Page 7) PROView - October 2007 - ProActive (Page 8) PROView - October 2007 - ProActive (Page 9) PROView - October 2007 - 2007 Annual Membership Meeting and Luncheon (Page 10) PROView - October 2007 - 2007 Annual Membership Meeting and Luncheon (Page 11) PROView - October 2007 - Marketplace Analysis (Page 12) PROView - October 2007 - Home Sales Report (Page 13) PROView - October 2007 - MLS Update (Page 14) PROView - October 2007 - MLS (Page 15) PROView - October 2007 - Upcoming Events (Page 16) PROView - October 2007 - Calendar of Events & Programs (Page 17) PROView - October 2007 - PRO Biz (Page 18) PROView - October 2007 - PRO Biz (Page 19) PROView - October 2007 - PRO Biz (Page 20) PROView - October 2007 - PRO Biz (Page 21) PROView - October 2007 - Welcome New PRO Members (Page 22) PROView - October 2007 - Welcome New PRO Members (Page Cover3) PROView - October 2007 - Welcome New PRO Members (Page Cover4)
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