Top Producer's Market Snapshot

mmuench · 05-21-2007, 12:59 PM

I mentioned this in my last thread, but I think it should be a thread of its own.

Does anybody subscribe to this service? TP wants $97.95 per month for this bundle and I was wondering is there are any subscribers to this service that could speak to whether or not it's worth the monthly subscription.

It looks like it could be a good marketing tool to use in your drip email campaigns to set yourself apart from the competition -- just wondering if there were any subscribers who could provide some feedback.

RESteve · 05-21-2007, 01:16 PM

I do weekly updates with my sellers and basically review this same information but verbally.

I think that offering the latest technology to your clients is a great way to add to your value proposition. What I don't think is so great is a new agent over-extending their budget to the point to where essential business expenses are neglicted due to a lack of funds (office supply, dues, etc.). I believe that TP has a contract for this service, and I'm not sure of the term, but I would strongly advise AGAINST any new agent getting this.

If you are at the point of where you have a healthy referral network and a have a firm control of your profit and loss statements for budgeting reasons, then investigating this technology to be added to your business would be perfectly justifiable.

Like all expenses, make sure you hold it accountable. I would strongly advise to solicit feedback from your sellers about the current updating system you are using, and asking if they are 100% satisfied with what you do now. If so, then why add the expense?

mmuench · 05-21-2007, 02:08 PM

All valid and good points.

Although the main use for this report would seem to be informing present or past listing clients of what's going on with the market in their area as it relates to the value of their home, I was thinking more of possibly investing in this as a prospecting tool. Since most web leads tend to be buyers and many are relocating to your area, obviously the report isn't going to show them what's going on in their local market (nor are they concerned with this if they're strictly buyers). I was more thinking of the possibility of including the Market Snapshot in my drip email campaigns for buyers to give them a useful and interactive update of my local market (sales price vs. asking price, etc.) in a much more appealing format than I'm able to provide currently. I'm thinking that monthly fee would be better spent on PPC ads, though -- unless this tool performs extremely well in converting online leads to clients.

RESteve · 11:29 AM

I received a call today from a Top Producer sales rep to discover that the market snapshot is now available in our area.

The technology is tempting and really neat - but I'd like more opinions on the added expense and if it really does anything for your business.

-Demo Here-

The implementation of using it in your drip campaign is a wonderful idea, but I'd like to really hammer this out. I'm going to do a cost analysis and share my findings this afternoon.

mmuench · 06-01-2007, 04:02 PM

Steve, I'm eager to hear your analysis. Still on the fence about subscribing myself.

RESteve · 06-01-2007, 04:36 PM

Quote:

Originally Posted by mmuench

Steve, I'm eager to hear your analysis. Still on the fence about subscribing myself.

Ah, thanks for the reminder. Still working on it.

RESteve · 06-07-2007, 07:32 PM

So I've decided against Market Snapshot for a hidden detail.

The currently plan will only allow you to do 150 market snapshots at any given time. I was planning to offer this to my database, and even use it for farming. I'd imagine that I could use up 150 rather quickly.

Go over 150 and the price doubles. Top Producer even has plans for Market Snapshot into the $1,000's. This hidden detail and lack of disclosure on the front end makes me feel uneasy about the whole thing, so I'm going to let it marinate in the RE industry a bit more and get more opinions.

I never finished the pricing analysis, mostly because I do very little direct mail marketing (was planning to use snapshot for farming - replacement for direct mail). Maybe someone with more experience with direct mail can chime in and give me numbers (dollar amounts):

-Average cost per mail out
-Assuming standard postcard size
-Resulting cost for 12 mailouts a year

Mind you I may be taking the Market Snapshot on a totally different approach than it was meant to be. For someone that just plans to use it to give their buyers market updates (by zipcode only according to TP), or to sellers wanting an update while their home is on the market (limited by radius search only), then this could be worth it for the leverage on technology alone.

mmuench · 06-08-2007, 08:54 PM

Thanks for the info, Steve!

Yeah, I was kind of annoyed when I heard about the 150 user limit, although I didn't realize the cost doubled if you went over. Doesn't that seem a little backwards? Don't you usually SAVE the more you purchase?

Seems like it could be a very useful tool, but I just hate how TP nickles and dimes you for everything. No thanks, I think I'll pass.

Thanks again for the helpful info!

BaltimoreAgent · 06-16-2007, 10:02 PM

I would really like to get the marketsnapshot but after finding out about the limit of 150 and then I get charged more, then no thanks. But I really love the idea. Just like Steve, I would like to use it as a marketing tool for direct mail as well as put it on my website. Also great to use as part of my listing presentation & my 2 week listing cma followup.

I sort of ran into 1 company that does something similar to it but the only problem is that as an individual agent, you can't get it. It has to be from the broker itself and then they can pass it onto the agents in that brokerage (at least that's what I got from it). The company is www. trendgraphix. com

No! I don't work for them or have even used them. This is not spam at all. Just sharing knowledge.

On that subject... does anyone know of any other company (or even a software) that does something similar to that - creating statistical graphs based on info from the MLS? I want something for me. Not sure if my broker would go for something like this throughout the office.

Thanks all!

Morristown · 06-19-2007, 11:07 AM

Now I understand why my question on this matter did not get any responce.

I wish top producer would read this thread becouse there is no reason for there to be additional cost for going over 150 user limit. possibly I am wrong but I bet there is no additional cost on their end.

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