There is one question that every real estate agent is asked more than any other. “How is the market?” A simple question. But how you answer it will determine whether they see you as just an agent or a true professional they want to work with.
I recently had a conversation with Lacey Conway, senior vice president at HomeServices of America, who reframed this question in a way that I think every agent needs to ask.
Lacey Conway
“It feels like a very basic question,” Conway said. “But when you think about what you’re asked most often as an agent, this is it. And it’s a great opportunity to start the conversation and really shine.”
Questions with the most answers
Ask most agents what the market is like and you’ll hear something like this:
“That’s good.” “It’s hot.” “It’s slowing down.”
None of these answers are technically wrong, but they don’t inspire confidence. They won’t turn you away. And they don’t position you as an expert.
“If you answer that question with only adjectives, you’re missing out. Agents who stand out are the ones who can get to the bottom of what’s really going on,” Conway said.
Confidence begins with competence
One thing I’ve always believed is that confidence as an agent starts with competency. Conway reinforced that idea in a poignant way.
“When you hear someone explain a market using real numbers and real context, you immediately think, ‘This person knows what’s going on,'” she says. “And that builds trust.”
It means understanding:
Inventory levels and their changes Trends in average selling prices Days on market Absorption rates What is happening at specific price points and regions
Because if you can move from general statements to specific insights, the conversation changes quickly.
Step 1: Start with better questions
One of the easiest ways to improve your answer is to not answer right away. Instead, ask follow-up questions.
“Are you thinking of buying, selling, or just curious?”
This shift allows them to adjust their responses to what actually matters to them. Conway says, “You have to meet people where they are. There is no single market. It depends on who you are talking to and what they are trying to achieve.”
Step 2: Be specific — be really specific.
One of the biggest takeaways from our conversation was the importance of drilling down. In addition to knowing your market, you also need to know your market segments. “Depending on the area, the market can change dramatically as you go four or five blocks,” Conway said. “So when someone asks you how the market is doing, being able to be specific about your situation makes a difference.”
This means moving beyond broad commentary on the market to things like:
Price Range Property Type Micro Neighborhood Trends
Because specificity creates credibility.
Step 3: Turn data into trust
Most agents stop here. they collect data. But good agents go one step further. They have the ability to communicate it clearly and confidently. “When you can convey that information in a concise and impactful way, people really start to have confidence in you,” Conway said.
For example, instead of saying, “The market is doing well,” you could say:
“Year-to-date, our closed transactions are up 11% compared to the same period last year. The number of homes for sale is up 17% compared to a few years ago, but we’re starting to see a balance. That means there are opportunities right now, whether you’re buying or selling, but the key is having a professional agent who can strategize and understand where the opportunities are.”
That’s a whole different level of conversation.
Step 4: Add your story to bring it to life
Numbers build credibility, but stories build connections. That’s something Mr. Conway also emphasized.
“People want to know what’s really going on,” she says. “They want examples. They want to understand what they’re seeing in the real world, not just the data.”
That’s where your experience comes in handy. Rather than just sharing statistics, try telling stories like this:
Listings that received multiple offers despite market conditions Buyers who found an off-market opportunity Pricing strategies that made a difference
“These real-world examples help people connect the dots,” Conway said. “It makes the data meaningful.”
Step 5: Broaden your horizons
Another important point Mr. Conway shared was the importance of stepping outside of your own dealings. “I think a lot of agents can focus on what’s going on in their immediate world,” she says. “But when you actually take the time to look at different price points and different areas, you often find a completely different story.”
Having a broader perspective doesn’t just increase your knowledge; It brings new opportunities. Conway said that in his experience, digging deeper into the data often reveals unexpected trends that change the conversation and approach to strategy.
Step 6: Practice before it matters
This may be the most practical lesson of all. Most agents don’t have a hard time because they don’t know the market. They struggle because they don’t practice talking about it.
“It sounds simple, but it’s important to put it into practice,” Conway said. “Because when you look at the numbers and think through how to explain them, the conversation flows naturally.”
In other words:
Practice with other agents and AI Check your numbers weekly Test how to explain trends out loud
Because the last thing you want to do is find out the answer in front of your potential customers.
the real purpose of your answer
After all, the goal is not just to answer questions. It’s about building confidence. Confidence in understanding the market. Confidence that you can guide them. Confidence that you are the right person to help them make decisions.
And Conway summed it up perfectly, “If you can answer that question well, it changes the way people view you. It’s no longer just a conversation, it’s a moment that establishes your credibility.”
Every agent is asked, “How is the market?” But not all agents use that to their advantage. So next time you hear it, don’t default to an adjective. Slow down. Let’s be specific. Please tell the story. Because in that moment, you’re not just answering a question. You’re showing exactly why someone should trust you with their next move.
Jimmy Burgess is Chief Coaching Officer of HomeServices of America and President of Berkshire Hathaway HomeServices. Connect with him on Instagram and LinkedIn.
