🫣 The data your sellers don't want to see

If you missed our 90-day ultimate listing marketing plan class yesterday, it was epic.

100% of the attendees said they are going to watch it AGAIN.

And 1,000 agents were watching live.

Here is the full replay (the slides + 90-day checklist are in the description)

Now, without further ado, here’s what is in the last B.I.T.S. of the week:

🏆 [B]est in Class: RIP Just Sold

💡 [I]deas That Work: A text message sellers simply can not resist

📈 [T]raffic & Attention: The most photographed home in Los Angeles

🔔 [S]eller Signals: The data your sellers don’t want to see

Median listing prices have declined or gone flat for 20 consecutive weeks.

Not one rough month. Not a seasonal dip. Twenty straight weeks, ending with a 2.4% drop year-over-year.

But the number that matters more is price per square foot, down 2.5% year-over-year.

Here's why that distinction matters: median price can be misleading. When more small or lower-priced homes enter the market, the median drops even if individual home values are holding.

Price per square foot controls for that. It measures apples to apples. When it hits a record low, it means actual home values are declining in many markets, not just the mix of homes shifting.

Pair that with 58 days on market (4 days longer than last year) and active inventory now in its third consecutive year of gains, and the picture is clear: spring is arriving with more competition, longer waits, and softer pricing than most sellers planned for.

This data is not bad news. It's a tool.

The sellers in your pipeline who are still mentally pricing in 2022 need someone to show them this, calmly, clearly, without an agenda, before they test the market at a number that sends their listing to the expired pile 120 days from now.

The agents winning right now are the ones who price correctly from day one. The agents losing are the ones who take the overpriced listing to "see what happens."

What happens is 88+ days, a price reduction, and a seller who blames you for it.

When you walk into a listing appointment this week and share this data or post about it on social media, you're not delivering bad news.

You're being the one person who told them the truth while everyone else was telling them what they wanted to hear.

That's not a hard conversation. That's a trust deposit.

The sellers who list with you because you were honest are the ones who stay patient, follow your strategy, and send you referrals when it's over.

Bonus: If you use Beacon, you can add this insight to your executive summary.

If you don’t use Beacon, you can try it free for 7-days.

Thursday ✅

What a week!

Monday - [B]est in Class: RIP Just Sold

Yesterday - [I]deas That Work: A text message sellers simply can not resist

Yesterday - [T]raffic & Attention: The most photographed home in Los Angeles

Today - [S]eller Signals: The data your sellers don’t want to see

If you missed any of this week’s B.I.T.S., you can go here to catch up.

And don’t forget to download the slides and our free 90-day listing marketing plan checklist (it’s in the description of this YouTube video)

See you Monday,

- Chris Smith and Jimmy Mackin