This document summarizes recent real estate market stats and research on consumer expectations. It finds that half of online real estate inquiries will buy within 12-18 months, but only 15% close within 90 days. As a result, agents must follow up on leads quickly. Research shows consumers expect a response within 30 minutes and are 21 times more likely to work with an agent who contacts them within 5 minutes. The document also provides recent sales and inventory numbers for several Massachusetts cities and towns.

1. Updated Market Stats 01/02/2013
and Response Time

2. 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?

3. 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. -

4. Research suggests…
That response time to leads should be even faster than 30
minutes…
http://www.leadresponsemanagement.org/lrm_study

5. Updated stats…

6. Leominster - 01453
Sales 2 months = 41 (20.5)
Inventory 101 - 11 active flagged = 90
4.3 months inventory
prev: 6.34 months inventory (12/06/12)

7. Fitchburg 01420
Sales 2 months = 41 (20.5)
Inventory 118-9 active flagged = 109
5.31 months inventory
prev: 4.9 months inventory

8. Lunenburg 01462
Sales 2 months 15 (7.5)
Inventory 55-5 active flagged = 50
6.6 months inventory
prev: 7.87 months inventory

9. Sterling - 01564
Sales 2 months = 13 (6.5)
Inventory 26-3 active flagged = 23
3.5 months inventory
prev: 3.5 months inventory

10. Lancaster 01523
Sales 17 (8.5) 2 months
Inventory 38 - 1 active flagged = 37
6.6 months inventory
prev: 8.7 months inventory

11. Westminster 01473
Sales 2 months = 17 (8.5)
Inventory 74 - 5 active flagged = 69
8.1 months inventory
prev: 9.2 months inventory
(over 12 months when I started tracking inventory)

12. Gardner - 01440
Sales 2 months =22 (11)
Inventory 65 - 7 active flagged = 58
5.2 months inventory
prev: 5.1 months inventory

13. Templeton - 01468
Sales 2 months = 12 (6)
Inventory 32 - 1 active flagged = 31
5.16 months inventory
prev: 5.0 months inventory

14. Royalston
Sales 2 months = 3
Inventory 12-1 active flagged = 11
No data

15. Inventory Comparisons
8/01/2012 01/02/2013
Leominster All Actives 170 101
Fitchburg 187 118
Lunenburg 80 55
Sterling 54 26
Lancaster 80 50
Westminster 75 69
Gardner 95 65
Templeton 59 32
128 Expireds over the last week
– usually much lower

16. Is the market transitioning…
Or have we arrived at a seller’s market in most areas?

17. 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.

18. 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

19. Tools
http://remax-newengland.com/

20. Update Profile

21. Design Center – REMAX.net
or access through remax-newengland.com

22. It is going to be a great year!!