Market Reports give your users useful statistics to evaluate trends and averages in the markets they care about. In addition to providing valuable market information, these reports can also serve as a seller lead capture funnel - this can be configured via your Visitor Registration settings (see “Market Reports Registration Requirements”).
The first component of the market report is the “Hotness Meter”, which provides a simple visual representation of the state of the market. The scale ranges from “Buyer’s Market” (indicating slower than average home sales) to “Seller’s Market” (indicating faster than average home sales).
Below the Hotness Meter, we give 4 important market statistics:
Next is a graph that shows the following market trends over time:
- Median Sold Price vs Median List Price
- Median Sold Price / Median List Price (%)
Below the graph, we show “Comparable Listings” (recently sold homes in this market).
Finally, we give a list of links to Market Reports for Nearby Markets.
Note: Our market report statistics are largely based on “Sold Listings” data from your MLS. If your MLS does not provide “Sold Listings” data, our market reports can only show data derived from active listings, so components that require sold data will be hidden, such as the Hotness Meter, and some market statistics.
Any “Comparable Listings” provided will be active listings rather than sold listings.
Benefits of Seller Lead Capture
Seller leads are home owners who have shown interest in selling their property. With our market reports, potential sellers can use your website to search their area to get an idea about current market conditions for their own property. Some benefits of capturing seller leads are:
- When they sign a listing agreement, they are legally bound to work with you, meaning even if they are to choose another agent, you could possibly still be compensated for your time and effort.
- You control your time better. You set appointments for open houses, showings, inspections, etc.
- More seller leads = more potential inventory = more prospective sales.