Presentation 10 hjfy market stats and response time

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Presentation 10 hjfy market stats and response time

  1. 1. Updated Market Stats and Response Time
  2. 2. Count the Passes http://www.youtube.com/watch?v=vJG698U2Mvo&feature=player_embedded
  3. 3. … What does this mean? …half of the people who watched the video and counted the passes missed the gorilla. It was as though the gorilla was invisible. This experiment reveals two things: that we are missing a lot of what goes on around us, and that we have no idea that we are missing so much. Applying this to business: If you are doing things one way and focused on that only, chances are that you are missing a lot of what is going on around you… …and you may not even be aware of what you are missing.
  4. 4. Research has shown that HALF the people who make an online inquiry on a real estate listing WILL BUY in the next 12-18 months. But only 15% close in the next 90 days. That means to be successful meeting the needs of online real estate consumers, real estate agents MUST FOLLOW UP Leads or Clients?
  5. 5. Response time They should answer their phone or e-mail when a customer contacts them — or at least reply within a half hour or less. Anything else is unacceptable. With all of the technology available today, they can react quickly, no matter where they are or what they are doing. This is true especially when a prospective buyer or seller is making the first call to an agent. - http://www.realestateproarticles.com/Art/1802/274/Top-10-What-Consumers- Expect-from-a-Real-Estate-Agent.html Follow up must be FAST...45% of consumers expect a personal response (not an auto- responder) within 30 minutes of making an inquiry. Research shows the odds of them becoming your client are 21 times greater if the agent contacts the consumer within FIVE minutes of their online inquiry. -
  6. 6. Research suggests… That response time to leads should be even faster than 30 minutes… http://www.leadresponsemanagement.org/lrm_study
  7. 7. Updated stats…
  8. 8. Leominster - 01453 Sales 2 months = 52 Inventory 161-19 active flagged = 142 5.46 months inventory prev: 7.5 months inventory
  9. 9. Fitchburg 01420 Sales 2 months = 43 Inventory 175-14 active flagged = 161 7.4 months inventory prev: 8.1 months inventory
  10. 10. Lunenburg 01462 Sales 2 months 17 Inventory 70-3 active flagged = 161 7.88 months inventory prev: 9.6 months inventory
  11. 11. Sterling - 01564 Sales 2 months = 12 Inventory 48-6 active flagged = 161 7 months inventory prev: 7.3 months inventory
  12. 12. Lancaster 01523 Sales 19 2 months Inventory 58 - 5 active flagged = 53 5.5 months inventory prev: 8.7 months inventory
  13. 13. Westminster 01473 Sales 2 months = 12 Inventory 68-7 active flagged = 61 10.1 months inventory prev: 12.4 months inventory
  14. 14. Gardner - 01440 Sales 2 months =32 Inventory 98-9 active flagged = 89 5.5 months inventory prev: 7.1 months inventory
  15. 15. Templeton - 01468 Sales 2 months = 11 Inventory 60-5 active flagged = 55 10 months inventory prev: 9.4months inventory
  16. 16. Royalston Sales 2 months = 3 Inventory 12-1 active flagged = 11 7.3 months inventory
  17. 17. Expireds Here are some statistics on Expired listings: • Only 28% will re-list with their current agent • 35% will leave their home off the market for a month or more (Statistics indicate that most of these will re-list with another agent within 90 days) • 37% will re-list with a new agent within 30 days • Over 70% chance YOU can get the listing • Most that re-list will do so with the 1st or 2nd agent that contacts them
  18. 18. Touching Seller Clients Why… Reach out to your friends and neighbors? Because with the team’s target marketing and approach, we can serve clients better than the average agent. You are doing your friends a favor by reminding them that you sell real estate. You know your market better than anyone.
  19. 19. Other ideas… Craigslist Blogging Follow up! Email list? Set up a free newsletter or send out an ecard every other month with local events info Call SOI about upcoming events of interest What are your best ideas?

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