Looking for an edge to beat out the competition for listings? Look no further than your property data tool. From generating CMAs to helping you overcome seller objections, this tool can help you impress prospects and win more listings—but how? To find out, we turned to an expert. Nikki Morgan of CRS Data has spent years training agents on how to leverage public records.
- Educate yourself so you can educate your client.
Ever heard this objection from a seller?
“At our last party, my neighbor said she sold her house for $XXX,XXX. Why are you pricing my home below hers?”
Having a well-informed answer can mean the difference between winning the listing and leaving the homeowner unimpressed.
2. Point out ways to improve a home’s value.
Turn to your property data tool when a seller wants to know which improvements will make their home more saleable. For example, maybe fixing an older roof would increase the home’s value. To find out, Morgan instructs agents to use CRS Data’s “Refined Values” tool:
- Compare the home’s value with and without the roof improvements.
- Run a Cost vs. Value comparison to determine whether repairing the roof will make the house sell for more money.
3. Fix outdated property information.
No matter how accurate your property data system is, sometimes property tax records are simply outdated at the county level. If the property information that you pulled into your CMA is missing a recent bedroom addition, for example, you can use your tax system’s Refined Values tool to factor that new bedroom into the home’s value.
4. Pull bad comparables to combat pricing objections.
Morgan shared a clever way to stop pricing objections before they start: by pulling bad comparables. Maybe a seller is likely to compare his home’s value to a neighbor’s because they seem similar on paper, but he doesn’t realize there are actually significant differences.
5. The Key to Customizing Comparables
Every agent wants to choose the most accurate comps for their reports. This can be achieved by customizing comparables. Agents should make sure that they are comparing the same improvement types, staying consistent in their land views and ensuring the property is residential when reviewing comps, according to Morgan.
Bonus: Remember, your expertise is the most important thing.
“Understand that a platform like CRS Data is a tool, and it is improved with their knowledge. The key is in agents taking what they know and applying it,” Morgan says.