Correcting False Consumer Beliefs About the Real Estate Market

by Victor Lund on January 29, 2014

WAV tnOn the January 22nd, hundreds of real estate professionals joined Victor Lund on the webinar, “How to Combat Misinformation about the Real Estate Market.” Attendees learned about data-based strategies and tools they can use to correct erroneous beliefs that consumers have about the market, like prices and home values.

It begins with education. We heard from two brokers, Ed Finlan of Ed Finlan Group-Keller Williams Western Realty and Amy Gallagher of Century 21 Hometown Realty, on how they’re leveraging these new data tools to communicate correct information to consumers online and gain credibility as knowledgeable local market experts.

The webinar has been recorded for those who couldn’t attend. Check the link below to see how you, too, can leverage data to transform the consumer experience.

How to Combat Misinformation about the Real Estate Market

Both Finlan and Gallagher use a tool from CoreLogic called Market Trends Premium. Creator CoreLogic has tied together MLS data with the public record information to create a better forecast of the real estate market.

“By using data from the MLS which is crafted by Market Trends Premium, our customers get a more accurate and realistic understanding of the market because the data used is the closed sale price from the MLS,” says Amy Gallagher.

Her company, Century 21 Hometown, uses Market Trends in the following ways:

  • Area Market Trends landing pages
  • Improving content quality by bolstering claims with charts and graphs
  • Cross-linking from other articles for SEO and increased page views
  • Populate city and neighborhood landing pages with rich market data

Gallagher leverages Market Trends on C21’s website to educate a broad swath of consumers. In contrast, the Ed Finlan Group uses it “more on a one-to-one with different clients and potential clients.” Here are a few examples:

  • Educate buyers on suggested offer pricing
  • Educate sellers on realistic home prices
  • Statistical data for blogging
  • Give neighborhood date for city/neighborhood sites
  • Updates for sellers
  • Reports for potential buyers and sellers
  • Data on single property websites
  • Post data on social media

“The overall goal with Market Trends is the unique combination of both MLS content, which you all have at your fingertips, supplemented with property records and tax information to really give a complete, holistic view of what’s going on in the market,” says Steve Masters of CoreLogic. Masters shared a live demo of Market Trends Premium with attendees after Gallagher’s and Finlan’s presentations. Click here to watch our recording to view the full demonstration!

 

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