Use Hyper-Local Real Estate Statistics to Inform Your Clients

Posted by: Ryan Ward on June 26th, 2008

One of the most difficult aspects in today’s market is getting consumers to understand the difference between national, local and hyper-local real estate trends which could vary dramatically depending on your location.

More importantly, a client’s perspective in the market will in large part determine their expectations for a transaction. Many home buyers today feel that the water has run completely red with blood and many buyers believe that they can steal a home with this new found leverage. Many are excited about the possibilities and have heard the news reports about buying homes for 60 cents on the dollar.

If you don’t convey to your clients up front that this is not likely to be the case, you will have problems getting buyers and sellers to agree on a price at which the home could be purchased.

Understanding your hyper-local market, even within your city and being able to convey how that translates into accurate expectations for a client has never been more important than it is today.

Being an expert in your market is paramount to building trust and in turn clients and it’s your responsibility to understand and be able to convey the difference to help educate them.

Knowing what is happening on a hyper-local level, will help you be the local expert, build their confidence in you and help you close sales.

An example of why hyper-local information is important is illustrated below. Here in Atlanta, the real estate market varies greatly depending on what part of the city a client wants to buy.

It’s critical to know your market statistics and how it differs from the larger real estate market to set the proper expectations.

If you look at the Atlanta home values on the chart below, you can see that prices have been trending downward since June of 2007 and if your buyer thinks that is relevant for the entire city, they might have the wrong expectations.

While it is interesting to note what is happening in Atlanta or in your city, it’s probably not telling the whole story and might not apply to the hyper-local market your client is looking to buy in.

Below is a chart I have posted on my Alpharetta webpage indicating quite a different story for home values.

Clearly Metro Atlanta is down, but, Alpharetta is quite clearly trending up in its values. If a buyer anticipates finding a home in Alpharetta based on what they know about the Greater Metro Atlanta market, they will be in for quite a surprise to find that their negotiating positions is not likely to be quite as strong as they initially thought and sellers may not be as inclined to consider a low offer.

Setting these expectations early with your clients will help ensure that you can get to the closing table.

I use charts like the one above on my Alpharetta real estate page and cite it and other charts like it often when working with clients. They are easy to create in Microsoft Word, are visually attractive and very easy for consumers to read.

I will usually create a new one for either blog posts to keep consumers updated or when needed while working with a client.

It’s often much easier and more convincing when buyers can look at it and read it for themselves. These charts make it easy to get a snapshot of the local market quickly and often times that’s really the information they need to get the correct perspective on the market.

What are you doing to keep your clients educated about your market and what works best for you to set the expectations?

Ryan Ward is a REALTOR® with Keller Williams REALTY Consultants in Atlanta.



9 Comments on “Use Hyper-Local Real Estate Statistics to Inform Your Clients”

Louis Cammarosano

How true. Bay area residents likes to boast of their micro climates. We also have a similar “hyper-local” housing market. Home prices IN San Francisco are not going down at all in most neighborhoods. In areas AROUND San Franciso they have declined.
Since most buyers and sellers don’t pay attention to the market the way realtors do (they get their information from national media), it is imperative, as Ryan points out, that Realtors demonstrate this knowledge and relay it upfront to set proper expectations.

Ryan Ward

Yep – at least for me here in Atlanta. If we don’t convey this very early, we are likely to show 60-80 houses (no exaggeration) to one client and make a lot of low offers and help create some very dissatisfied and frustrated buyers. I believe that this in turn is poor customer service as well.

I learned this the hard way…

Mitch Ribak

It’s amazing how our entire market is defined by the media. In our area we have homes that have declined substantially and others not as much. Well they have both declined substantially but some not quite as much. Maybe that’s a truer statement. However, to the media, our entire market should fold up shop and go home.

Ryan – Most of my agents to the same thing. They show 50+ homes writing bad offers. I have been working with them on taking more control of the customer. If you do a great job on the front end prior to showing your customer, you can usually save a ton of time and gas money on the back end. When you take control of your customers you also take control of your life.

Real Estate

I agree having this content is great for the in-home presentation. Where can you get this data for other markets?

Wayne Long

We battle this all the time because Columbus GA has remained flat while many markets have declined. People expect to come in and pick up homes at 70 cents on the dollar here and are usually disappointed.

Every market is different and there are markets within markets.

Good analysis Ryan.


This is a great post. As I am just getting really into the real estate market I am learning more and more about how to do things the right way and what tools to use to make our business better. Thank you for you post and time.


Ken in Elgin, IL

50-60 homes…I would shot myself. Spend a few minutes educating clients and earn their respect. If after educating the client they don’t have an interest in being realistic move on and find a new client.

Real Estate Taxi

Understanding your market is extremely important to a real estate agents success! learn everything you can and keep learning.

Cathy Chaudemanche

Yes, I could not agree more. Providing local granular real estate statistics is one of the edge left to real estate pro and this can be done quite easily with data from local MLS.

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