VIDEO BLOG
Hey everyone, Michael LaFido here!
Today's topic is all about using a housing scorecard to empower yourself and stand out in the real estate market. Have you ever wondered how to differentiate yourself from other agents? The answer lies in educating buyers and sellers with both local and national housing data. Let’s dive into what exactly a housing scorecard includes and how it can set you apart!
Starting at the national level, there are four key statistics to keep an eye on: interest rates, pending home sales, builder confidence, and unemployment rates. These data points are critical for understanding consumer confidence and the real estate landscape. Interest rates affect a buyer's urgency, pending home sales give us a pulse on market activity, builder confidence forecasts new developments, and unemployment rates reflect economic health.
On the local front, the housing scorecard consists of five essential data points: local unemployment, housing starts, existing home sales, inventory levels, and days on the market. Understanding these stats will help you gauge if it’s a buyer’s or seller’s market, anticipate shifts, and guide your clients more proficiently.
Implementing a monthly housing scorecard for your market could be your ticket to becoming an expert resource for your clients. This knowledge is invaluable for both you and the people you serve, offering them insights and helping them make informed decisions.
On a personal note, I'm celebrating my 15th anniversary since leaving teaching for a full-time career in real estate. As Mark Twain famously said, you'll regret more in life what you didn't do than what you did. Are you where you want to be? Are you excited about your current opportunities? It's time to get busy living.
Stay informed, stay excited, and as always—prove them wrong!
Take care, everybody.
