Updated Market Stats 01/02/2013 and Response Time

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 = 41 (20.5) Inventory 101 - 11 active flagged = 904.3 months inventory

prev: 6.34 months inventory (12/06/12)

Fitchburg 01420Sales 2 months = 41 (20.5)

Inventory 118-9 active flagged = 1095.31 months inventory

prev: 4.9 months inventory

Lunenburg 01462

Sales 2 months 15 (7.5) Inventory 55-5 active flagged = 506.6 months inventory

prev: 7.87 months inventory

Sterling - 01564

Sales 2 months = 13 (6.5)

Inventory 26-3 active flagged = 233.5 months inventory prev: 3.5 months inventory

Lancaster 01523

Sales 17 (8.5) 2 months

Inventory 38 - 1 active flagged = 376.6 months inventory

prev: 8.7 months inventory

Westminster 01473Sales 2 months = 17 (8.5) Inventory 74 - 5 active flagged = 698.1 months inventory

prev: 9.2 months inventory(over 12 months when I started tracking inventory)

Gardner - 01440Sales 2 months =22 (11)

Inventory 65 - 7 active flagged = 585.2 months inventory

prev: 5.1 months inventory

Templeton - 01468

Sales 2 months = 12 (6)

Inventory 32 - 1 active flagged = 315.16 months inventory prev: 5.0 months inventory

Royalston

Sales 2 months = 3

Inventory 12-1 active flagged = 11No data

Inventory Comparisons 8/01/2012 01/02/2013

Leominster All Actives 170 101Fitchburg 187 118Lunenburg 80 55Sterling 54 26Lancaster 80 50Westminster 75 69Gardner 95 65Templeton 59 32

128 Expireds over the last week – usually much lower

Is the market transitioning…

Or have we arrived at a seller’s market in most areas?

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.

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

Tools

http://remax-newengland.com/

Update Profile

Design Center – REMAX.netor access through remax-newengland.com

It is going to be a great year!!