Becoming the Market Expert

Welcome to the latest episode of the Ninja Selling Podcast, where Matt and Garrett dive deep into a crucial topic for real estate professionals: understanding and leveraging inventory dynamics. In this episode, they explore the nuances of inventory management, absorption rates, and the importance of building strong relationships with fellow agents who have their fingers on the pulse of the market. The episode's primary theme revolves around the dynamic world of real estate inventory as our hosts emphasize the significance of knowing your local inventory in depth, considering not only the quantity but also the quality of listings. Our hosts highlight the importance of differentiating between properties that are receiving showings and offers, those getting showings but no offers, and stagnant listings that are not attracting any attention. This categorization helps agents better advise their clients and make informed decisions. They also stress the value of strong relationships with other real estate agents who can provide insights into the market's current dynamics. Overall, this episode serves as a reminder that staying informed about inventory dynamics, building strong relationships, and constantly expanding your knowledge base are crucial steps toward achieving success in the industry. Even more success can be enjoyed by joining the (now) 14,000 Ninjas who collaborate, ask and answer questions, network, and more in the Ninja Selling Podcast group on Facebook at Ninja Selling Podcast Facebook. Leave a voicemail at 208-MY-NINJA if you’d like to offer more direct feedback. Be sure to check out Ninja Selling Events for upcoming installations and other events, and if you’d like personalized help in achieving your goals, visit Ninja Coaching to connect with one of our fantastic coaches. Episode Highlights: Inventory dynamics and understanding the nuances of your local market's inventory Categorizing listings into three groups Building strong relationships with fellow agents who are actively engaged in transactions Gathering information and building knowledge as an ongoing process Striving to be proactive rather than reactive, preparing for market shifts in advance Transaction volume is not the sole indicator of an agent's success  Agents who remain active and educated can thrive in any market The benefits for clients of working with agents who are well-informed about the current market conditions and can provide valuable guidance   Quotes: "Know your inventory." "Build your knowledge." "Surround yourself with people who have insights into the market." "Be proactive, not reactive." "The more you know, the better conversations you can have.” "By doing the homework up front and being prepared, you can help your clients understand exactly what they need to do to be successful." "The marketplace is there; it's just showing up differently than what we've seen in a while." "Don't give too much weight to the opinions of agents who are not active in the marketplace."   Links: www.TheNinjaSellingPodcast.com Email us at [email protected] Leave a voicemail at (208) MY-NINJA   Ninja Selling www.NinjaSelling.com @ninjasellingofficial   Ninja Coaching: www.NinjaCoaching.com @ninja.coaching   Ninja Events www.NinjaSelling.com/Events   Garrett [email protected] @ninjaredding   Matt [email protected] @matthewjbonelli   The Ninja Selling Podcast Facebook Group Ninja Coaching Book Study Ninja Mastery   Ninja Selling by Larry Kendall