Be the first to know your client is interested in selling when clients use the Market Temperature Panel. They'll be able to explore the selling market for their home and contact you directly with questions or discuss the next steps.
In this article, we'll cover each component that makes up the Market Temperature Panel:
Watch this quick video to get a better understanding of how we're educating your clients on their market conditions:
MARKET TEMPERATURE
Depending on the conditions of your client's market, they'll see a notification on their digest about the temperature for selling:
Your market is heating up
Your market is cooling off
Your market is balanced
Please note: if we are unable to collect data for a client's area, the modules below will not show:
If they click 'take a look', they're taken to an interactive heat graph that show's them how homes in their market are selling:
We'll provide homeowners with average time frames and property details for other homes in their zip code:
We'll also use selling indicators to help them understand their selling position.
SHOULD YOU SELL NOW
We've taken the market temperature feature one step farther, allowing clients to understand better their selling position based on the following factors:
Home Appreciation and Depreciation
High appreciation: If a home has appreciated 5% or more year over year.
Moderate appreciation: If a home has appreciated 3 - 4% year over year.
Slow home value growth: If a home has appreciated 0 > and < 2% or more year over year.
Uncertain appreciation: If a home has depreciated by under 0.25%
Cash Position
We also want to help your client understand their home equity and how it impacts their cash position.
Could pocket cash:
This will show if the homeowner will pocket at least $10k in equity after 6% selling fees.
This will show if the homeowner adjusts the slider for a higher-priced home.
This will show for clients who have enough equity to sell but have been in the home for under two years.
Risky cash position:
This will show if the homeowner will pocket less than $10k and/or has owned the home for under two years.
This will show for clients who have less than $10k in equity and have been in the home for under two years.
Market Temperature Indicator
In high demand or In-demand market: Competition is high, inventory is low.
Balanced market: Competition & inventory are neutral
Cool or Cold market: Competition is low, inventory is high
We also let your client know how much homes are selling for in their area - allowing them to message you directly with intent to sell:
WHERE WE GET THE DATA
We use a third-party data provider called Altos Research. Altos provides active housing market data for 20,000+ local markets.
Please note: if we are unable to collect data for a client's area, most modules may not show.