How to use Statistics to Set Yourself Apart from Your Competition...

One of the easiest ways to set yourself apart from your competition is to research and use statistics.

I have made Hundreds of Thousands of dollars in commissions in the past 12 years by convincing seller and buyer prospects to use my services on the basis of 3rd party Statistical Evidence that I use to set myself apart.

Now before I go any further, I know there may be some of you reading this right now that are saying to yourself, “Well sure, Craig can use statistics because he sells a lot of houses, but what about me?” Well, that’s the great thing about statistics, anyone can use them, and I’ll show you how.

Now, obviously the First Step you need to take is to do some research to find in which areas you stand out. It’s not likely that you’ll shine in all areas, but you’re only interested in stats that make you look good. (You won’t use the others.)

So, how do you do this research and exactly what are you looking for? Well, what you’re researching and comparing are your personal numbers vs the MLS (or real estate board) statistics. If your personal statistics are not impressive, you may want to use your company statistics, and if that doesn't work, drop that statistic and move on to another area.

Let me give you a couple of examples: If I’m at a listing presentation and the seller is interviewing agents, I must prove to that seller what’s in it for him to list with me. One stat that I’ll use is my List-to-Sales ratio vs the real estate board List-to-Sale ratio. When I did the research, I found my listings averaged 98.6% of the sellers asking price and that the real estate board average (everyone else) was 96.5%. Therefore, my listings sold for 2.1% more. Now, a picture says a thousand words, so here’s the bar graph that I show the seller.

Get the picture? Now, chances are even if you sold only one house last year, you likely beat the real estate board (MLS) average. If not, ask your broker what your company List/Sale ratio was, and if favorable, use your company stats.

Now that’s just one area to look at. Other areas to research include: days on the market (yours vs the MLS real estate board avg.)

Or you could compare Success Ratio, which means what percentage of your listings that you take on actually sell vs the MLS (real estate board average).

....your home is X.X % times more likely to sell with Craig.

Finally, one last example to use when targeting sellers is market share. Here you should use your Company market share (if impressive).

Ok, I’ve been talking so far about how to use stats when targeting sellers, but what if it’s buyers you’re targeting? Well, what do buyers want? I find most agents will go on and on about what Great Negotiators they are and they will tell every buyer they meet with how they will save them money by negotiating the lowest price, etc., etc. When I (or my buyers agents) meet with a buyer, we show the buyers proof that we will deliver. How do we do this? By comparing the real estate board (MLS) List-to-Sales ratio vs our personal List-to Sales Ratio for buyers. Let me explain. I said earlier that my real estate board List-to-Sale ratio was 96.5%, and by researching my own numbers, I found that on average my Team negotiated 5.2% off the Seller’s asking price. Therefore, my Team and I were able to negotiate 1.7% more off the seller’s list price. Now, when you convert that to real dollars, based on an average sales price in my market of $198,000 X 1.7% = $3,366 savings to our buyers.

Remember, we all have access to these statistics on MLS. Find the ones that benefit you and use them!

Craig Proctor is a regular contributor to TopAgentSecrets.com.  Craig has been consistently one of the RE/MAX agents worldwide over the last 10 years.  His easy to use Quantum Leap Real Estate Success System has helped over 3800 agents to achieve a consistent 6-figure income while working less.

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