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RAINMAKER
JULY 19, 2011
Monday, July 18, 2011
Activity ReportListings, Pendings, & Sold July 2011: Listings Pending Closed
Week 1 2 1 1
Week 2 4 2 3
Week 3 1 5 9
Week 4
Month Total 7 8 13
Goal 20 20 22
I must do the most productive thing possible at every given moment.
Tom Hopkins
Monday, July 18, 2011
JULY RAINMAKERSPUT IT IN PENDING!
WHO WILL TAKE JULY?
• Charlotte Beasley- 1
• Jacob Hartley- 2
• Wes Thornbury- 1
• Amber Harrison- 1
• Lindsay Gquest- 1
• Leslie Toups- 0.5
• Clark Girardeau- 0.5
STA
ND
ING
S
Monday, July 18, 2011
JULY RAINMAKERSPROPERTY MGT REFERRALS!
thank you!
• Marcile Sims- 4
• Rose Gibbs- 1
• Victoria Wood- 1
• Ed Phillips- 1
STA
ND
ING
S
You simply refer them to us and we do all the setup. It’s that easy!
PAYOUT
$100/perupon
leasing!
Monday, July 18, 2011
DiscussionAgenda
Monday, July 18, 2011
Work by Referral. Live the Good Life!™
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 2
CONTENTSIndustry Facts PAGE 3
Mortgage Facts PAGE 4
Distressed Properties PAGE 4
Buyer Facts, Trends & Demographics PAGE 5
First-Time Home Buyer Facts PAGE 6
Seller Facts, Trends & Demographics PAGE 7
Transaction & Income Information PAGE 8
Real Estate Agent Facts PAGE 8
Real Estate in the New Era PAGE 9
Why Working by Referral Works PAGE 10
SOURCES:
National Association of REALTORS®, 2009, 2010, 2011
RISMedia, Inc., 2010, 2011
CNN Money, 2011
U.S. Bureau of Labor Statistics, 2009
National Association of Home Builders®, 2011
REAL Trends, Inc., 2010
The Nielsen Company, 2009
Forrester Research, Inc., 2010
Bu!ni & Company™, 2010
REALTOR and REALTORS are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS. © 2011 Bu!ni & Company. All rights reserved.
Buying, selling or "nancing a home is one of the biggest decisions a person will make, so it’s only natural that they want to work with a knowledgeable professional they can trust. Remaining educated on the market and providing your clients with relevant and current information will give them peace of mind and help you secure their long-term business. That’s why I’ve compiled Brian Bu!ni’s Real Estate Report—updated for 2011—to inform you and help you exceed your client’s expectations.
Filled with facts and "gures on the industry, this report is a must-read for today’s professional. You’ll learn about current buyer and seller trends and changing demographics as well as gain insight about where the market is headed.
I hope you enjoy the report and put it to use in your business.
It’s a good life!
Brian Bu!niCEO & Founder, Bu!ni & Company,North America’s Largest Real Estate Coaching & Training Company
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 3
The typical home purchased was built in
1990
INDUSTRY FACTS
COMPARISON OF HOMES PURCHASED:
HOUSING INVENTORY:
9% condos
8% townhouses or rowhouses
6% some other kind of housing
34% of a person’s income (the largest portion) is
used for housing
It is now cheaper to buy than rent in nearly 3/4 of American cities
Northeast$237,300
Midwest$139,700
South$148,400
West$204,000
MEDIAN HOME PRICES:
In 2011, single-family home starts are forecast to increase
21% to 575,000
The national home ownership rate is nearly
67%
For the past 12 years, the average homeowner’s net worth has been
31 to 46 times that of the average renter
Decline of FSBO sales transactions in 2010:
Less than 1 in 10Housing is a key driver of the economy, accounting for 15% of the GDP
of homes sold were new homes
of homes purchased were in a subdivision or suburb
15%52%
December 2010 8.1 month supply
November 2010 9.5 month supply
77% single-family detached homes
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 4
MORTGAGE FACTS DISTRESSED PROPERTIES
8% median down payment for all
home buyers
4% median down payment for
"rst-time buyers
14% median down payment for
repeat buyers
Distressed homes make up
36% of the market 91% of buyers "nanced their
home purchase
95% of "rst-time home buyers
chose a "xed-rate mortgage
56% of "rst-time home buyers
"nanced their purchase with an FHA loan
7% used the VA loan program
HOUSING IS PREDICTED TO RECOVER THE QUICKEST IN THESE STATES:
North DakotaSouth DakotaIowaNebraskaOklahoma
By the end of the year, "xed mortgage rates are forecast to increase from
4.75% to
5.75%The majority of these buyers could not !nd the right home or thought the process was too di"cult or complex.
4% of buyers purchased a foreclosed home
6% of buyers purchased a short sale
50% of all buyers considered
purchasing a foreclosed home, but did not
57% of !rst-time buyers
considered purchasing a foreclosed home, but did not
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 5
BUYER FACTS, TRENDS & DEMOGRAPHICS
WHAT BUYERS NEED HELP WITH MOST FROM THEIR REAL ESTATE AGENT:
More than 1/3 of buyers did not make any compromises when purchasing their home
14% of buyers own 2 or more homes
Repeat buyers plan to hold their property for
15 years
More than 80% of buyers list energy e!cient heating, air conditioning and appliances as must have features in their new home
of "rst-time buyers are married couples
compromised on price
compromised on size
Buyers won’t compromise on storage space!
of repeat buyers are married couples
48% The typical buyer purchased a
3 bedroom/2 bathroom home
The average buyer searched for
12 weeksThe average buyer viewed
12 homes
19%19%
68%HOME BUYER DEMOGRAPHICS:
20%single women 12%
single men
1%other
8%unmarriedcouples
59%married couples
TOP FACTORS in"uencing where a buyer purchases:
1 Quality of the neighborhood
2 Convenience to work
3 A!ordability of the home
Finding the right home
Negotiating the terms of the sale
Negotiating the price
Completing the paperwork
Monday, July 18, 2011
First-time buyers
$152,000
Repeat buyers
$215,000
Brian Bu!ni’s Real Estate Report PAGE 6
FIRST!TIME HOME BUYER FACTSPERCENTAGE OF BUYERS WHO WERE
FIRST"TIME HOME BUYERS: 2010
50% 2008
41% 2009
47%
MEDIAN PRICE PAID:
30 Typical age of #rst-time home buyer
First-time buyers searched an average of
2 weeks longer than repeat buyers
93% of #rst-time home buyers
used the #rst-time buyer tax credit
First-time home buyers plan to stay in their home for
10 years
The average income of a #rst-time home buyer was
$59,900The average square footage of a #rst-time home buyer’s house was
1,540And cost
$152,000
Monday, July 18, 2011
Project
Cleaning & De-cluttering
Lightening & Brightening
Home Staging
Landscaping
Repairing Electrical or Plumbing
Cost toHomeowner
$290
$375
$550
$540
$535
Sale PriceIncrease
$1,990
$1,550
$2,194
$1,932
$1,505
Return onInvestment
586%
313%
299%
258%
181%
The median age of a seller is
SELLER FACTS, TRENDS & DEMOGRAPHICS
49The typical seller has owned their home for
8 years
The typical home sold for
96%of the !nal listing price
43%27%
93%The median time for a home on the market was
8 weeks (down from 10 weeks in 2009)
OF SELLERS:
SELLER’S MOTIVATION FOR MOVING:
21%
home was too small
15%
job relocation
MEDIAN HOME PRICE RECEIVED BY SELLERS:
TOP 5 HOME IMPROVEMENT PROJECTS WITH BEST RETURN ON INVESTMENT:
Sold using a real estate agent
Sold directly by the owner
of sellers did not reduce their asking price
reduced it only once
of sellers listed their home on an MLS
50%28%
21%
traded up
bought a comparably sized home
traded down
$199,300
$140,000
Sellers generally move about
18 miles from their previous home
Brian Bu"ni’s Real Estate Report PAGE 7
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 8
TRANSACTION & INCOME INFORMATION REAL ESTATE AGENT FACTS
16 years or more experience
$52,300
2 years or less experience
$8,800
REALTOR® EARNINGS COMPARISON:
In 2009, the average gross income of a REALTOR® was
$35,500
Nearly 40% of REALTORS® reported gross incomes below $25,000 and only 16% reported incomes of $100,000 or more
In 2010, Bu!ni & Company One2One Coaching™ Members earned an average gross commission of
$180,542 and closed an average of 22 transactions
80% of REALTORS® do not have a personal assistant
91% own a home
93% use email every day
78% use a smart phone every day
60% have a website
11% don’t have a website but plan to develop one in the future
10% have a real estate blog
In 2009, real estate agents closed an average of
7 transactions
50% of REALTORS® use social media
OF REALTORS®:
76%workfull-time 24%
work part-time
REALTORS® spend about
5 years with a company
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 9
REAL ESTATE IN THE NEW ERAThere are approximately
80 million Echo Boomers
Echo Boomers
$200Billion
Baby Boomers
$125Billion
What is an Echo Boomer?
Considered the children of Baby Boomers, Echo Boomers are people between the ages of 18 and 31
Social networking websites more than doubled their prevalence as a resource in 2010
More than 80% of builders expect to do away with formal living rooms and the number of houses with 3 or more bathrooms and 4 bedrooms is dwindling
EARNING POWER COMPARED:
DECLINE OF NEWSPAPER ADVERTISEMENTS AMONG SELLERS WITH AN AGENT:
of buyers use the internet to search for homes
97% of them use social
networking sites like Facebook, LinkedIn, and Twitter every day
40% of them don’t have a land line
2009 37%
2010 28%
89%85% of buyers using the internet to search for a home purchased through a real estate agent
In 2011, as Echo Boomers move into the housing market, multi-family home starts are forecast to rise
16%
Monday, July 18, 2011
Brian Bu!ni’s Real Estate Report PAGE 10
WHY WORKING BY REFERRAL WORKS
90% of consumers worldwide
are most likely to trust the recommendations of the people they know
84% of sellers would
recommend their agent or use the agent’s services again in the future
64% of buyers chose their
real estate agent based on a referral, or had worked with their agent in a previous transaction
90% of buyers would
recommend their agent to others
A referral from a friend, neighbor or relative is the most common method sellers use to !nd their real estate agent
35% of people feel reputation is the most important factor when choosing an agent
66% of sellers contacted
only one agent
Staying in constant contact with your database will keep you at the forefront of their mind!
Only 36% of REALTORS® have generated some business from holding an open house, a “traditional, transactional” lead-generation activity
There is no lead more powerful than one referred from someone you know—someone who knows you, trusts you and will put their name to you.”
—Brian Bu"ni
Each year, people share their opinions and recommendations about a brand, company or service provider
500 billion times
From their website,
61%of REALTORS®generated
0 to 5 leads
Monday, July 18, 2011
Monday, July 18, 2011
Monday, July 18, 2011