My Secret Sauce: Market Expertise

Yes, I have a secret sauce that I use in my real estate business and have decided to share it with everyone. Thanks to Seth Godin’s purple cow, the tutelage of Zealeap’s Tim Porthouse, and Darin Hardy’s Compound Effect I was able to pinpoint it.

Real Estate Market Expertise

Shhhh…. don’t tell my competition. My team studies their local market on a daily basis. Each week at our team meeting we discuss trends we are seeing from around the Valley. Even though my area of focus is North Scottsdale real estate, our agents in Phoenix, Glendale, Surprise, Mesa, Tempe, Arcadia, and Chandler bring their own research. Personally I find focusing on the luxury market and north Scottsdale gives me an advantage over other Scottsdale real estate agents. This is the secret sauce of the Sibbach Team. Market expertise comes from several contributing factors:

  • Listing and representing the seller on the sale of their home
  • Meeting buyers, previewing property and representing buyers in purchasing property
  • Previewing property on a weekly basis for different price ranges, shooting video and photos, training new agents how to interpret data.
  • Tracking data monthly from the Arizona Regional MLS, reviewing AZ tax records for sales data, monthly review and recordation of sales numbers for foreclosures and short sales, tracking patterns of sales and inventories.
  • Meet with other brokers to discuss numbers, review others opinions and read charts and reviews of the data locally and nationally.
  • Ability to interpret and understand impacts of data and consequences.
  • Putting comps together for sellers, buyers, banks and appraisers. Contesting and negotiating comps.
  • Reviewing what actually sells homes such as advertising, agents, marketing and the difference between what markets the agent and what markets the property.

This is what we do every day. Parts of the above are completed by others, I gain the most from the constant repetition of each of the steps. This gives perspective. Give us a call and let us share with you. There is a difference, choose wisely.

Real Estate Reports we like to review:

  • ARMLS – New listings per month, sales per month, average sales prices, and median sales prices
  • Cromford Report – Zip code & city reports for average and median sales prices, number of pending listings, price per squarefoot, Cromford Index, and inventory levels.
  • MSN/CNN – Nation real estate news to compare against the Phoenix and Scottsdale real estate markets.
  • How is Zillow Accuracy for Phoenix Metro?
  • Flexmls – I use our MLS to build and track custom reports for local areas. There is no reporting tool that drills into the individual neighborhoods, so we built them.

Let’s talk about the market affecting the value of your home.
Call The Sibbach Team Today: 480-500-1738