Staying top-of-mind with past customers is paramount for agents. Most real estate business is still earned from referrals and repeat business. Agents who neglect their database won’t last long.
But what is there to do after a transaction closes? Refrigerator magnets? Christmas cards? Pumpkin carving events? That’s all swell, but it would be ideal to be able to continue as a resource for real estate needs.
The monthly market report is the go-to solution. Homeowners are always interested in their home value, increasing or declining equity, and eager to snoop on their neighbor’s listings and sales. The market report is a great deliverable to continue keeping your name, face, and the words “real estate” in front of your people.
These reports are often sent on a monthly basis and feature local real estate market data with year-over-year trends, an estimated house price (AVM), recent local home sales, and more. These are often valuable not only to real estate agents but mortgage lenders as well.
And doing it doesn’t have to be tough. There are lots of tools – some free! – that stand ready to help you scalably generate and deliver this information to your sphere.
CoreLogic's ePropertyWatch is a valuable tool for real estate professionals. The email service sends monthly updates that feature CoreLogic's AVM, local comparable homes, and zip code trends and value history.
At W+R Studios, we believe in empowering our clients to have the power to communicate with their past clients in the way that is most comfortable for them. Homebeat is a great tool for doing just that, as it allows you to control the frequency of communication with past clients. It’s a living CMA that keeps you top of mind, so you can continue to provide value to them and stay in their minds.
Homebot is a powerful tool that can help agents and lenders stay up-to-date on home equity reports and market conditions. It is a great way to stay connected with past clients.
View Other Market Report Tools ListReports is a lender/agent marketing suite that includes open house tools and listing marketing tools. It also includes monthly market and
Some other real estate transaction management software options include:
- Home Lending Pal
Apart from Cloud CMA’s sister product Homebeat, there is other CMA software that can also serve as a market reports. The National Association of Realtors (NAR) owns Realtors Property Resource (RPR), which also generates market reports that can be used to message to your database.
I include as a separate category that of referral marketing. Market reports are an obvious component and sub-branch of referral marketing. Referral marketing refers to everything you do to stay in touch with your past clients, and includes services like card services, closing gifts, published materials, and more that is generally targeted at people with which you have an existing relationship.
Some CRMs have robust market report features, most famously Top Producer’s Market Snapshot.
Make the most of your database and provide value when you reach out. Don’t do recipes. Don’t do gardening tips. Keep it real estate focused so that they connect you not with spammy, cheap content but connect you with your local market’s real estate professional.