How to Spark Real Estate Conversations With Friends, Family, Clients and Prospects

As a REALTOR®, it’s vital to keep your finger on the pulse of the housing market.

Being knowledgeable about and having keen insights into current market trends (versus not having them) can be a make or break quality. And in this business, you obviously want to be a deal-maker, not a deal-breaker!

Use RPR to arm yourself with answers

One way to do that is by leveraging the tools and data in RPR (Realtors Property Resource) to your advantage. RPR puts an array of data points and up-to-date market info right at your fingertips.

Logging into RPR every day, checking your market stats and keeping the RPR Mobile™ app with you when you’re out in the field, or out doing anything, is a smart way to keep up on trends and have a digital “cheat sheet” at your disposal. This is a keen daily habit and can help you:

  • Articulate nuanced market movements
  • Provide data-backed advice amidst market uncertainty
  • Align consumer expectations with market realities

Being able to provide these insights and answer real estate questions on the fly is the sign of a true, local market expert. And the ability to simply start conversations out of the blue with confidence, and with data-backed details, is a formula for success.

Here are three ways RPR can prep you to be a conversation-into-conversion type of agent…

RPR Residential Market Trends

Last year RPR introduced Shareable Market Trends, and now hundreds of thousands of agents are using these hyper-local market stats to keep their clients and prospects aware and in the loop.

Shareable Market Trends contain vital market information such as the Market Trends Indicator with key details on Month’s Supply of Inventory, List to Sold Price Percentage, Median Days in RPR and Median Sold Price. Conduct a search as macro as a state or county, or drill down to ZIP codes and neighborhood names to define your area. You’ll get an up-to-date snapshot of a local market and be able to point out key metrics that can really help position you as a source of truth in all types of real estate conversations.

Instead of saying “Not bad”, when someone asks you how the market is, you can confidently say, “Inventory is slightly up, but still down overall. While properties are still going for asking price and staying on the market for less than a month.” These types of details and insights will set you apart from other agents, and plant seeds in the minds of fence sitters and future customers.

And remember, with just a few clicks or taps from the website or the RPR Mobile™ app, you can also share these stats and graphs across all your favorite social media platforms and marketing touchpoints.

Pro Tip:

To ensure that you’re providing the most up-to-date Market Trends information, try gathering Market Trends data at or around the 7th of each month. For example, January 2024 statistics have been updated on February 6th.

AI-powered Market Trends ScriptWriter tool

The RPR Market Trends ScriptWriter tool is an extension of the Shareable Market Trends. This ChatGPT and AI-powered integration offers agents a streamlined approach to creating personalized video scripts, engaging social media content and detailed metrics analysis.

However, the usable scenarios don’t end there. You can also use it to create scripts and blurbs for yourself, to keep in your back pocket when organic conversations about real estate occur out in the world.

Simply run a Market Trends search, then hit the “Create Script” button where you’ll be presented with options on the audience, tone and type of script. For the purposes of arming yourself to carry and start real estate conversations, we suggest you select the “Conversational” tone, Buyers and Sellers for audience and “Social Campaign.” Here’s an example of the type of copy the ScriptWriter will generate:

📉 Over the last 12 months, we’ve seen a significant decrease in the Month’s Supply of Inventory by -20.69%. This indicates a growing demand for homes in Oceanside, making it a promising market for both buyers and sellers. 📉💪

💰💯 When it comes to selling your home, you’ll be glad to know that the List to Sold Price percentage is a fantastic 99.3%! This shows that properties in Oceanside are fetching close to their listing prices, giving sellers confidence in their investments. 💵💼

⏱️⚡️ Looking to make a quick move? The median days on market is just 15 days! Homes in Oceanside are selling like hotcakes, so buyers need to act fast to secure their dream homes. 🏃‍♀️🏃‍♂️

💲💎 Now, let’s talk numbers. The median sold price in Oceanside is currently at $799,000. This reflects the strong demand and value of properties in our city. It’s an exciting time for buyers and sellers alike! 💲💰

Now, these little snippets are originally intended for social media posts as individual shares: Facebook, X (Twitter), Instagram, LinkedIn, etc. Agents can simply cut and paste the words and emojis.

However, for the creation of discussion talking points and convo starters, you’ll need a slightly different tactic. All you have to do is lose the emojis, and take the statistics, and learn to recite them in your own words. So when someone asks, “How’s the market for selling?”… You can respond with, “It’s actually pretty strong right now, with more buyers entering the market every day. In fact, the List to Sold Price, which is how much you list for compared to how much you actually get, is a healthy 99.3%!”

Check out this How-To for a step-by-step on getting started using it. Take the ScriptWriter for a spin today to see how easy it is to use when engaging with potential clients, family or friends. Note: the Market Trends ScriptWriter tool is only available on the website version of RPR… for now.

Equity and Mortgage Calculators

Here’s where the sparks really start to fly! The RPR Mobile™ app is now equipped with two very powerful tools: The Equity Calculator and the Mortgage Calculator.

Now, with phone in hand and the RPR app opened up, you can give potential clients a detailed look at the equity their home has built up, or their purchasing power as a buyer. These are things that sellers and buyers really want to know more about! And sometimes, this type of information can even make someone start considering listing their home for sale, or taking a dip as a first-time home buyer. Knowledge is power and you have so much in your hands with the RPR app and these calculators.

Picture yourself at a kitchen island during an open house. Or in line at the local coffee shop. Or at your kid’s practice. Or eating out, picking up dry cleaning, in a waiting room, etc. Any time you’re out and about, working or not, you’re basically a living, breathing, walking and talking real estate information kiosk! Whether someone seeks you out, or you happen to overhear a conversation, the RPR app arms you with ice-breaking opportunities to show people important information about their real estate situation.

For a step-by-step walkthrough on how to use the calculators, check out this article from our blog: The RPR App Adds new Estimated Equity and Mortgage Calculators.

Use RPR to spark real estate conversations anywhere, at anytime

As you can see, RPR is much more than just a mere research tool; it serves as a catalyst for engaging and meaningful conversations about properties and housing markets.

By leveraging the wealth of data and insights provided by RPR, REALTORS® can elevate their conversations, build stronger relationships with clients, and establish themselves as trusted experts in a competitive market.

Share This Story, Choose Your Platform!

3 Comments

  1. HomesWithLove February 23, 2024 at 7:15 am - Reply

    What an insightful and practical guide on sparking real estate conversations! This blog post is a gem for anyone in the real estate industry or even those just looking to engage in meaningful discussions about property. The tips and strategies provided are not only creative but also showcase a deep understanding of effective communication.

  2. Eliot Bradley March 10, 2024 at 1:03 am - Reply

    Wow! This is very helpful in my career as a real estate developer in the Philippines specially on my offerings of condo in Tagaytay!

  3. Tvaste Constructions May 22, 2024 at 12:57 am - Reply

    Great insights! RPR’s tips on sparking conversations with prospects are practical and effective for real estate professionals. Valuable resource for success.

Leave A Comment

TOPICS

AUDIENCE

CATEGORIES

TUTORIALS & GUIDES

SUCCESS STORIES

PROSPECTING

THE PODCAST