The Secret Sauce of Modern Market Reports and Why They are Crucial to Your Business

Market reports. In today’s world, this may sound like an old idea. Real estate agents have, after all, been providing their clients with reports on market trends for as long as properties have been traded. Still, though, this remains the single best way to get data into the hands of those interested in buying or selling real estate. Everything from understanding what homes are selling for, to how competitive the market is, to how long a seller can expect their home to take to sell can be gleaned from analyzing a well-composed market report - and this data is crucial for your business. As such, it should be an integrated tool in your real estate web design.

Buyers and sellers today are eager for information. They are used to having a wealth of information at their fingertips, in real-time, and their expectation for real estate data is no different.

Modern buyers and sellers are looking for area specialists who can help them navigate competitive markets and get them the best deals using their market knowledge.

Comprehensive market reports with real-time and thorough data are the perfect tool to position yourself as the market leader and win more business.

Most agents do not provide market reports because they are incredibly time consuming to prepare, and like cars, they lose value right away since the information becomes outdated as soon as a new transaction closes or new property is added to the MLS. For a tech-savvy agent, however, it does not have to be this way.

There is a new way to do market reports. One that harnesses the power of artificial intelligence to supercharge your market reporting to enhance user engagement and visitor conversion.

Modern market reports should do the following:

• Utilize Ai to auto-generate reports on your behalf using the most up-to-date data from the MLS. You do not have to spend hours analyzing the market, crunching the numbers, and typing out detailed reports. Your real estate website system should come equipped with the technology to automatically generate reports, so that you don’t have to.
• Automatically update with the market. Real estate markets - especially ones as large as the South Florida market - are fluid. Thousands of transactions close, come to market, or change price each day. If you only update your market report data once a month, or worse, once every quarter, the information that you are providing is wildly inaccurate to a buyer or seller looking today. Your website needs to be powered by an algorithm that is constantly crawling MLS data to provide real-time data in your market reports. This is what shows website visitors that you know their market better than anyone.
• Include in-depth data. Only showing the number of properties that are active in the market or the average price of a listing simply does not cut it. Consumers are smart and they want data. The more information you give them, the more detailed your market reports are, the more likely they are to want to work with you. Remember, buyers and sellers are looking for an expert in their market. The more information you give them the more you position yourself as such. Your reports should include as many data points as possible to win more business.
• Display active and sold data. Showing both active and sold data is crucial to provide a full picture of the market. Buyers and sellers look to both data sets to effectively analyze the market. 
• Provide calls to action. Prompting a visitor to request more detailed information through persuasive language and navigation is an effective lead capture strategy - especially for late stage sale cycle visitors.
• Include active listings. Remember, website visitors are on your site because they are considering buying or selling in your market. Combining a detailed market report with one-click access to active listings in that market is a great way to boost conversion.
• Combine market reports with a home valuation tool. This is the winning combination when it comes to seller lead generation. When a seller can see detailed market data and instantly request a home valuation to see how their property stacks up, it is a powerful form of lead capture.

The most important feature of using market reports for lead generation and conversion is surprisingly the one most often overlooked by agents. Your market reports need to be hyper-specific.

What does hyper-specific mean? Most agents provide general market reports, for example the Miami Market. In order to boost conversion, however, you should be providing more specific reports on niche areas within a broad market, such as a report on an individual condo building in Miami Beach, or a particular neighborhood.

Most buyers, and all sellers, really only care about what is going on in a hyper-specific portion of the market - where they are looking to buy or sell. This provides the most relevant information for all website visitors. If a buyer is looking for a home in Coco Plum, having a market report specific to that neighborhood - including active and sold data for homes currently for sale and recently sold - is the most relevant market report for that buyer and will show your dominance in that market. Similarly, a seller looking to sell their condo in Portofino is more likely to view you as the building specialist if they land on a market report specific to Portofino. This is key to building your brand and growing your business.

Most buyers have their search area narrowed down to specific neighborhoods or buildings. Providing a detailed market report for each individual neighborhood is the best way to highlight your expertise and win the lead.

Even more, having a comprehensive hyper-specific report for every neighborhood and every condo building in your farm area provides thousands of dynamic landing pages to throw your SEO into overdrive. This is a win-win for both you and your website visitors!

Market reports may seem like an old-fashioned, straightforward tool that might land it low on your list of priorities. But it shouldn’t be! If generated and utilized properly, it is a powerful tool for your marketing strategies. Built with the right tech-forward architecture, your website should provide you the strength of an effective market report without adding to your workload.

Realty Net Media provides thousands of niche-specific comprehensive, data-filled market reports that are automatically updated with the MLS and freshly generated for each website visitor - and it is included as a part of our website platform at no additional cost. Our unique tech-driven solution is what you need to brand yourself as a neighborhood expert and bring your business to the next level. Find out more about our auto-generated market reports and how to use them to help you grow your business.