presentation 10 hjfy market stats and response time

Updated Market Stats and Response Time

Count the Passes

http://www.youtube.com/watch?v=vJG698U2Mvo&feature=player_embedded

…

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.

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?

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. - 

Research suggests…That response time to leads should be even faster

than 30 minutes…

http://www.leadresponsemanagement.org/lrm_study

Updated stats…

Leominster - 01453

Sales 2 months = 52 Inventory 161-19 active flagged = 1425.46 months inventory

prev: 7.5 months inventory

Fitchburg 01420Sales 2 months = 43

Inventory 175-14 active flagged = 1617.4 months inventory

prev: 8.1 months inventory

Lunenburg 01462

Sales 2 months 17 Inventory 70-3 active flagged = 1617.88 months inventory

prev: 9.6 months inventory

Sterling - 01564

Sales 2 months = 12

Inventory 48-6 active flagged = 1617 months inventory prev: 7.3 months inventory

Lancaster 01523

Sales 19 2 months

Inventory 58 - 5 active flagged = 535.5 months inventory

prev: 8.7 months inventory

Westminster 01473Sales 2 months = 12

Inventory 68-7 active flagged = 6110.1 months inventory

prev: 12.4 months inventory

Gardner - 01440Sales 2 months =32

Inventory 98-9 active flagged = 895.5 months inventory

prev: 7.1 months inventory

Templeton - 01468

Sales 2 months = 11

Inventory 60-5 active flagged = 5510 months inventory prev: 9.4months inventory

Royalston

Sales 2 months = 3

Inventory 12-1 active flagged = 117.3 months inventory

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

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.

Other ideas…CraigslistBlogging

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?