There’s one question every real estate agent gets asked more than any other. “How’s the market?” Simple question. But how you answer it can determine whether someone sees you as just another agent or as a true professional they want to work with.
Recently, I had a conversation with Lacey Conway, SVP at HomeServices of America, and it reframed this question in a way I think every agent needs to hear.
Lacey Conway
“It feels like such a basic question,” Conway said. “But if you really think about what you’re most frequently asked as an agent, this is it. And it’s an incredible opportunity to open a conversation and really shine.”
The problem with most answers
Ask most agents how the market is, and you’ll hear something like:
- “It’s good.”
- “It’s hot.”
- “It’s slowing down.”
None of those answers is technically wrong, but they don’t build confidence. They don’t separate you. And they don’t position you as the expert.
“If you answer that question with just an adjective,” Conway said, “you’re missing the opportunity. The agents who stand out are the ones who can get to the substance of what’s actually happening.”
Confidence starts with competence
One of the things I’ve always believed is that your confidence as an agent starts with your competence. Conway reinforced that idea in a way that hit home.
“When you hear someone explain the market with real numbers, real context, you immediately think, ‘This person knows what’s going on,’” she said. “And that’s what builds trust.”
That means understanding:
- Inventory levels and how they’ve changed
- Average sales price trends
- Days on market
- Absorption rates
- What’s happening in specific price points and neighborhoods
Because when you can move from general statements to specific insights, the conversation changes immediately.
Step 1: Start with a better question
One of the simplest ways to improve your answer is to not answer right away. Instead, ask a follow-up question:
“Are you thinking about buying, selling or just curious?”
That shift allows you to tailor your response to what actually matters to them. As Conway put it, “You have to meet people where they are. The market isn’t one thing; it’s different depending on who you’re talking to and what they’re trying to accomplish.”
Step 2: Get specific — really specific
One of the biggest takeaways from our conversation was the importance of drilling down. Not just knowing your market, but knowing your segment of the market. “In some areas, you can go four or five blocks and the market changes dramatically,” Conway said. “So when someone asks how the market is, being able to speak specifically to their situation is what makes the difference.”
That means moving beyond broad market commentary and into the following:
- Price ranges
- Property types
- Micro-neighborhood trends
Because specificity builds credibility.
Step 3: Turn data into confidence
Here’s where most agents stop; they gather the data. But the best agents go one step further. They have the ability to communicate it clearly and confidently. “When you can take that information and deliver it in a way that’s concise and impactful,” Conway said, “that’s when people really start to feel confident in you.”
For example, instead of saying “The market is good,” you might say:
“Year-to-date, we’re up 11 percent in closed transactions compared to the same time period last year. The number of homes for sale has increased 17 percent from where it was a couple of years ago, but we’re starting to see that balance out. What that means is there are opportunities right now, whether you’re buying or selling, but the key is having a strategy and a professional agent who understands where the opportunities are.”
That’s a completely different level of conversation.
Step 4: Add stories to bring it to life
Numbers build credibility, but stories build connections. That’s something Conway emphasized as well.
“People want to hear what’s actually happening,” she said. “They want examples. They want to understand what you’re seeing in the real world, not just the data.”
That’s where your experience comes in. Instead of just sharing stats, layer in stories like the following:
- A listing that received multiple offers despite market conditions
- A buyer who found an off-market opportunity
- A pricing strategy that made the difference
“Those real-world examples are what help people connect the dots,” Conway said. “It makes the data meaningful.”
Step 5: Expand your perspective
Another key point Conway shared was the importance of stepping outside your own transactions. “I think a lot of agents can get focused on what’s happening in their immediate world,” she said. “But when you really take the time to look at different price points or different areas, you often discover a completely different story.”
That broader perspective doesn’t just make you more knowledgeable; it opens up new opportunities. Conway shared that even in her own experience, diving deeper into the data often revealed unexpected trends that changed how she approached conversations and strategy.
Step 6: Practice before it matters
This may be the most practical takeaway of all. Most agents don’t struggle because they don’t know the market. They struggle because they haven’t practiced how to talk about it.
“As simple as it sounds, practicing this matters,” Conway said. “Because when you’ve gone through the numbers and thought through how to explain them, the conversation just flows naturally.”
That means:
- Practicing with other agents or even with AI
- Reviewing your numbers weekly
- Testing how you explain trends out loud
Because the last place you want to figure out your answer is in front of a potential client.
The real goal of your answer
At the end of the day, the goal isn’t just to answer the question. It’s to build confidence. Confidence that you understand the market. Confidence that you can guide them. Confidence that you’re the right person to help them make a decision.
And as Conway summed it up perfectly, “When you can answer that question well, it changes how people see you. It’s not just a conversation anymore; it’s a moment where you establish credibility.”
Every agent gets asked, “How’s the market?” But not every agent uses it to their advantage. So the next time you hear it, don’t default to an adjective. Slow down. Get specific. Tell a story. Because at that moment, you’re not just answering a question. You’re showing exactly why someone should trust you with their next move.
