CHICAGO (August 3, 2021) – RPR® (Realtors Property Resource®), a wholly-owned subsidiary of the National Association of REALTORS®, announces the results of the 2021 State of the Listing Presentation. The report includes survey results from nearly 800 REALTORS®. Its goal is to provide the real estate industry some insight on trends and best practices when it comes to agents, home sellers and listing presentations.
Perhaps the most revealing fact taken from the study, is that the percentage of REALTORS® who provide sellers with a CMA, increased 8.3% from 2018’s survey. And providing sellers with an Estimated Home Value increased nearly 16% from 2018 to 2021. This may be a result of the current “seller’s market” and the high demand homeowners are putting on accurate home valuations.
An interesting correlation to the above statistics may be the survey’s second biggest jump: the percentage of listing presentations that resulted in a signed contract increased almost ten full points from 45.90% to 55.65%. This could indicate that a detailed Comparable Market Analysis is the new “price of admission” when it comes to listing presentations.
The survey also sheds light on some of the ways the COVID-19 pandemic has affected the business of real estate. Meeting prospective clients face to face for a listing presentation held steady with no real change. However, the use of Video Calls rose from 0% to 1.33%. Common sense tells us that this can be attributed to a mix of health and safety precautions, along with the rise of Zoom video conferencing.
Another tech-influenced insight: delivering listing presentations with a folder or binder with hard copies increased almost 4%. However, delivering via a tablet dropped by 6%. This mirrors the market trend of the decline in tablet use and sales, as laptops have become lighter and more powerful, and phone screens become larger.
“Among other things, this year’s survey indicates that thorough, detailed home valuations and CMAs are becoming mandatory when it comes to a winning listing presentation,” said Reggie Nicolay, RPR® vice president of marketing. “Sellers want to know how much their home is worth, and why. And a listing presentation is the perfect opportunity for REALTORS® to educate clients on how valuations are calculated.”
Additional key findings from the 2021 REALTOR® State of the Listing Presentation Report include:
- The number of survey participants increased from 457 to 795; a 338 person jump.
- Sellers asking for an Estimated Home Valuation is still the number one ask, yet in 2021 that request rose about 4.5%.
- Providing a pre-listing presentation package dipped a full 6 percentage points from 3 years ago, with 70.68%providing one in 2018, compared to 64.65% in 2021.
RPR provides REALTORS® with tools, data and reports to increase the effectiveness of their listing presentations, including customizable property reports and comparable market analysis. To aid REALTORS® in conversations about valuations, RPR also offers the Realtors Valuation Model®. RVM®s allow REALTORS® to estimate valuations based on factors AVMs do not take into account, thereby showcasing their expertise in the industry.
To view the full report here.
To learn more about RPR, visit blog.narrpr.com.
About RPR® (Realtors Property Resource®)
Realtors Property Resource®, LLC (RPR®), a wholly owned subsidiary of the NATIONAL ASSOCIATION OF REALTORS®, is an NAR member benefit that helps REALTORS® “wow” their clients and close more deals. This exclusive online real estate database covers more than 160 million residential and commercial U.S. properties, and provides REALTORS® with the analytical power to help clients make informed decisions while increasing efficiency in the marketplace. For more on RPR, visit blog.narrpr.com.