YOUR EBOOK TITLE THE NEW CMA: COMPETITIVE NOT COMPARATIVE
*Projected Activity in 700k to 850k, 4/25/23 to 7/25/23 THEREAL ESTATE POND
SUPPLYAND DEMAND
19 PROJECTED NEW HOMES IN 90 DAYS*
23 PROJECTED SOLD HOMES IN 90 DAYS*
FAVORS BUYERS
FAVORS SELLERS
NEW
SOLD
FLOWING ( UNDER CONTRACT )
7
SHOWING ( FOR SALE , NOT UNDER CONTRACT ) STAGNANT ( FOR SALE , EXCEEDED AVERAGE DOM)
4
0
16 NEW PROJECTED SALES.
*PROJECTED DATA BASED ON MARKET TREND AND BUYING PATTERNS
As you can see the dial is favoring sellers. This means that momentum is currently favoring sellers. Thus, we know we are in a positive trending market for the next 90 days.
Takeaway #1: Momentum is favoring sellers.
The other market factor this graph shows us is opportunity.
Opportunity
Opportunity is the availability of buyers in the market that close in the next 90 days. This is the number of transactions available for the next 90 days that are not currently taken by buyers i.e. under contract. This number is calculated by taking the number of projected sold homes and subtracting the number of homes currently under contract. This is the projected now new sales in the next 90 days, i.e. the opportunity. This number sometimes is the most important piece of the puzzle. The reason being, comes down to how it’s used. Everything up to this point has been leading to Competitively Positioning our home for sale. We are going to price to establish the value in buyer’s eyes, and to make our home a better value than other listings that that same buyer could potentially purchase. The way that opportunity factors in for us is that it either restricts or sets us free. If opportunity = 0 or 1, meaning there are no new projected home sales or only one in the next 90 days, then that says we need to position ourselves aggressively to make sure we are the best value or bang for a buyer’s buck. There is not a large pool of buyers looking for a new home, and we need to be clearly the best option for that potentially lone offer. The reason we need to be so aggressive is that we don’t know
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