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That may seem like a bold claim to some ...and I understand that .. but below is 7 years worth of MLS data that supports that purported bold claim. Stats on DOM, the percent Sold in Less than 45 or 60 Days, and even a significant percent SOLD AT OR OVER LIST PRICE.
When putting a property on the market, both Sellers and Listing Agents look for appropriate marketing materials to successfully market their listing. Will this work for me? That's what everyone wants to know. I won't tell you its going to work for you, but I can show you (with real data taken direct from the MLS) how it is working for others.
The Seven Year Average, with over $192 million worth of property sold, and an average sales price of $848,941, posts formidable statistics:
· 50.4% sold in less than 45 Days
· 72.1% sold in less than 90 Days
· 89.1% sold in less than 180 Days
- AND -
· 18.9% SOLD AT LIST PRICE OR ABOVE
Imagine ... the AVERAGE sales price over a period of seven years is knocking on the door at 20% selling at or over list price. That is a remarkable market performance statistic! Be sure to take a look at that graph and the factors we contribute to that performance, in the high end marketplace for luxury homes.
The following pages show seven years worth of data so you can see how SMARTePLANS has consistently performed in the marketplace, and continues to do so. Whether you are a home seller , listing agent or broker - these are performance results you can relate to!
The data for the graphs is taken from our MLS YTD figures. In the first graph you see the average sales price. SMARTePLANS are for high end luxury homes, so our average sales price is way above the overall MLS average. To provide a counter-weight to the data, I looked for the highest sales price region in Houston, and for us it is Area 23 (Memorial), and used that data to graph along with mine.
But, as you can see, in many areas the properties I market are still well above the average sales price for that region, too.
The graph here shows the Average Days on Market trending over a period of time.
Again, you can see that while the properties I'm showcasing are on average MUCH more expensive ... they are still moving off the market much more quickly than everything else.
Now think about this for a minute ... there is an inverse relationship between price and buyers. The higher the sales price, the smaller the pool of interested and qualified buyers.
So what this means is the SMARTePLAN marketing system is adept at effectively capturing their SMALL target pool of buyers BETTER (and faster) than the (collective) tools being used to market to the much, much larger pool of MLS buyers of lower priced properties.
For the agents reading this, I've added a graph here showing the Months Inventory record for Area 23 (Memorial) as a benchmark for the market conditions that is relevant to the data.
Another way I track DOM for my agent clients is I look at the actual break-down on the number of days on the market. For high end luxury homes in Houston it is fairly common for agents to use a 6 month (180 day) listing agreement.
So I track HALF of that (90 days) and then HALF again (45 days) to split up the term so the graphic is providing information to my agents of whether they are "ahead of the curve" or not for the major share of their listings.
[ Incidentally, the personal stats for the Top 5 SMARTePLAN Agents is excerpted into a separate blog posting if you want to see these same stats broken out per individual performance. Each agent gets their own data graphed and reported to them at the end of the year. If you're an agent, you can imagine how powerful this personalized information is when included in your listing presentation!]
So here's a closer look at that DOM data, but this time it is sliced a little thinner and concentrates on reporting the percent of sales that:
Sold Less than 45 DOM
- and-
SOLD Less than 90 DOM.
The patented SMARTePLANS marketing system showcases the unique features of each property visually, and the plans are also integrated with a very thorough room-by-room text description, giving potential buyers the detail they want at the click of a mouse!
Uploaded right onto MLS, they are accessible 24/7 around the world for the life of the listing.
Around the world? Yes. In an international city like Houston, foreign investors can easily find SMARTePLANS online, and the easy-to-understand pictorials transcend any language barriers. The lone house-hunting spouse now has meaningful info to send back to their other half and make that buying decision.
Corporate execs who know they are being transferred to Houston are searching our MLS months before they move --- looking at neighborhoods, looking at pricing --- and they find and scrutinize homes with SMARTePLANS on our MLS. Before they ever make their scouting trip, they KNOW what properties they want to see in person - the SMARTePLAN ones always make their "short list". All of these are "real" instances where a SMARTePLAN helped sell a high end luxury property a lot faster than expected.
Finally, my favorite graph: the percent of SMARTe-PLANS per year selling at list price or above.
Just LOOK AT THE REBOUND from 2009!!
From 5% in 2009 to 17.9% in 2010. The largest incremental change in 7 years.
What factors can lead to a property selling at list price or above?
Certainly the pricing itself, which is the domain of the listing agent. But if that's all there was to it --- all properties would be selling at list price and above --- and that is indeed the exception and NOT the rule.
CONCURRENT BUYER interest in the same property is the major factor that causes a property to sell at list price or above. Online SMARTePLANs have a long marketing REACH and they are so detailed and informative --- integrating the descriptive text with the property visualizations --- they attract and retain the attention of (multiple) buyers. Attracting several buyers all at the same time ... affects the sale price.
Uploaded onto MLS and data-streamed around the world to Google, Zillow, Trulia, Realtor.com and any number of portals and aggregators they are (1) easily accessible, (2) easily understood, (3) show the ENTIRE property --- outdoor space as well as indoor, and (4) show amazing detail of the features, finishes and craftsmanship of each property.
Whether you are a home owner thinking about putting your high end luxury home onto the market, or an agent who lists these properties, take the time to investigate. My website (www.smarteplans.com) has information for both consumers and real estate professionals, as well as samples of homes currently for sale utilizing a SMARTePLAN. Go visit. Ask questions.
After seven years ... not only are we effective and going strong ... but we're getting better!
Thanks for Stopping By,
Judith, The Floor Plan Lady
====================
SMARTePLANS have photos embedded inside the floor plan that launch with a mouse click .... each photo arrow is positioned in the plan where the photographer was standing --- so you can see where he was and what he was aiming at when he took the shot ... in relationship to the drawing. Beneath the photo is a description of that room. Once the photo launches you have a choice to link back to the floor plan and choose another photo, or read the amenities text for the WHOLE property (not just that particular room). All the files are inter-linked so you can seamlessly click around this property, viewing the photos and reading the descriptions. This is not a video ... you choose what you want to view ... or not
[NOTE: SMARTePLANS are PDF files so they magnify to over 100%. When the file launches, click "View" on the top toolbar and make sure there is a checkmark next to the toolbar named "Select and Zoom". Every time you tap the plus key inside the circle the view screen enlarges (the minus key shrinks the magnification); and the magnifying glass with the plus sign in it marquee selects a specific area of the drawings to be enlarged. Using the hand key and the scroll bars, its easy to move around inside the file, and then magnifying the features you want to see.]
U.S.Patent 7,733,351,B1
© SMARTePLANS 2011
The compilation above is the original creative work and copyrighted property of SMARTePLANS. You may link to it; but it may not be copied, nor reproduced in any form or format in whole or in part without the express written permission of Judith Sinnard.
