Where Is Your Business Coming From?

Each quarter my company, Prudential Northwest Properties, uses client survey response data to compile a source of business report. This data is compiled by a neutral third party company named Quality Service Certified (QSC). We use this report to help our associates know where to best spend their time, efforts, and money to attract, win, and keep clients long term. Our Vice President of Marketing, Sandy Gillison, just sent me the 2009 Year End report and the numbers are fascinating. Here are some interesting statistics to consider, when comparing 2008 to 2009: The percentage of Sellers whose primary reason for choosing their sales associate was based on …

  • being a satisfied past/current client decreased 28% from last year.
  • getting a referral from a friend increased by 14%.
  • the Internet increased 97% from last year.
  • the sales associate’s listing presentation increased 12%.
  • the Prudential Northwest Properties name/reputation increased 41% from last year.
  • an open house/walk-in increased 135% from last year.

The percentage of Buyers whose primary reason for choosing their sales associate was based on …

  • their personal relationship decreased 18% from last year.
  • a referral from a friend decreased 10%.
  • the Internet increased 120% from last year.
  • an open house/walk-in increased 26%.

These stats remind us that:

  • Internet exposure is critical. Buyers not only find agents and listings online; sellers look for online exposure and professionalism when entrusting you to sell their home.
  • Open Houses are a great way to meet buyers as well as prospective sellers.
  • Referrals still generate the greatest amount of business, but it takes more than relationships to gain clients; real estate professionals increasingly need to present their capabilities to earn business.
  • The strength and recognition of the Prudential brand continues to increase in importance.

Make it a great day!

Coach Dan