Feb. 23: One way to analyze buyers; proximity to parks continues to matter

Rob Chrisman

Rob Chrisman began his career in mortgage banking – primarily capital markets – 31 years ago in 1985 with First California Mortgage, assisting in Secondary Marketing until 1988, when he joined Tuttle & Co., a leading mortgage pipeline risk management firm. He was an account manager and partner at Tuttle & Co. until 1996, when he moved to Scotland with his family for 9 months. See more

What real estate agent wouldn’t want a tool that “empowers residential real estate professionals with data, valuations, price forecasts and insights at a property, portfolio and local market level”? A company called House Canary is hoping that every agent wants it.

 

52 “touchpoints” say what??

 

Apparently, “touchpoints” is modernized lingo for encounters. According to a new analysis, one home sale requires an average of 52 touchpoints with a buyer. Understanding the path to a purchase is both an art and a science. SmartTouch Interactive, an Austin-based digital marketing solutions company specializing in real estate, recently analyzed four years of data on new home sales after working with home builders across the country.

 

In order to determine the amount of touchpoints in a single transaction, SmartTouch analyzed the “note type” and “to do” history for approximately 200 buyers who had closed between 2013 and 2015. The analysis showed that the average home buyer requires 52 touchpoints, spanning from initial research to contact with a realtor/home builder to actual purchase. It also allowed the SmartTouch team to pinpoint key buyer attributes, such as how long home buyers spend researching before getting serious, how to know when a new home buyer is ready to enter the market, and what to do when they engage on email/website/social channels.

 

According to the research, there’s an average of 52 touchpoints from first inquiry (like a form submission) to closing on a new home. For SmartTouch clients participating in CRM analysis, a buyer will visit a community an average of five times, in person, before signing a contract. Average time from first inquiry to close was six months for primary residence and 15 months for second homes. 80% of SmartTouch client’s buyers registered online by submitting a form before going to the community. So what are the most important encounters based on SmartTouch’s analysis? The top five types of touchpoints are: online form submission, email, phone calls, in person visit and text messages. Other noteworthy points include paper registration forms and hand written notes.

Response speed is crucial!! This is why it’s critical that sales people get immediate notifications about hot leads and that follow up is relevant and automated. Depending on the stage of where the buyer is in the purchase cycle, personalization is important, too. The closer you get to closing, the more personal that communication needs to be.

 

City livin’ with a fabulous park included:

 

Lower maintenance buyers have been a topic we have discussed. A big back yard is not necessarily a requirement or even a desire today. Many people opt for city living to gain access to better job opportunities, easier commute options, and the availability of cultural and leisure events. But urban living doesn’t mean residents should have to compromise on living environments. For those city folks who can’t afford an urban home on a prime lot, these cities offer park land.

 

Tree cover and public parks have serious appeal for multiple reasons. A safe place for children to play, walk their dog, ride a bike, socialize or just unwind without the pesky trouble of yardwork. A 2010 study in BMC Public Health found that walking or running in green spaces instead of “synthetic environments” (like a gym) decreased anger, fatigue, and feelings of depression.  Public facilities like fountains, gardens, and benches, are already available and have been taken care of by the government. So now you may be wondering which cities have the most public park areas available, relative to the number of total households.

 

Using data from the 2015 City Park Facts Report by The Trust for Public Land , and the 2014 American Community Survey, America’s top 10 cities (municipalities) with the most public park acreage per 1,000 households.

 

Fremont California is a mere 40 miles from San Francisco. This city has kept its “Tree City U.S.A.” title for 19 years, since their initial nomination by the National Arbor Day Foundation and the National Association of State Foresters in 1996. Green, green, green, a true “nature in your backyard” kind of experience.

 

New Orleans is also blessed with beautiful grand parks; at least a quarter of the city is covered with green space. Aside from common activities like boating, fishing, kayaking, and biking, City Park also offers space people can reserve to hold weddings and throw birthday parties, and the New Orleans Museum of Art, Botanical Garden, and Sydney and Walda Besthoff Sculpture Garden are located inside its bounds.

 

Coming in third, El Paso is home to the nation’s largest urban park, Franklin Mountains State Park. The Franklin Mountains State Park takes up 26,627 acres, all within El Paso’s city limits. The plan to create a park out of the Franklin Mountains started in 1970s, and finally came to fruition in 1987. Needless to say, El Paso is a paradise for hikers. Instead of driving long hours to a hiking site, residents of El Paso can easily have some fun with their friends in the city park.

 

The city of Henderson, neighboring Las Vegas, has 64 public parks. Outside of some common features like open lawns, playgrounds and walking courses, Henderson also offers skate parks, dog parks, splash pads and lighted sport areas to the public. Some of the local favorites include Acacia Park, Acacia Demonstration Gardens, and Hidden Falls Park. Not to mention the spraying jets in Reunion Trails Park and Mission Hills Park.

 

Albuquerque New Mexico provides its residents with rich resources in public park land; the city’s Park Management Division has more than 287 park sites under its management. The Albuquerque Bio Park, one of the local favorites, is located a few minutes from downtown. A great place for families, the Bio Park complex includes a botanical garden, zoo, and aquarium. The parkland per household is about 5,200 square feet in Albuquerque.

 

San Diego CA, Honolulu Hawaii, Irvine CA, Phoenix AZ, and Aurora CO are also listed in the top ten areas with prime park land for the ultimate back yard experience.

 

 

Instead of the usual joke today how about some trivia?

The song, Auld Lang Syne, is sung at the stroke of midnight in almost every English-speaking country in the world to bring in the New Year.

Drinking water after eating reduces the acid in your mouth by 61 percent.

Peanut oil is used for cooking in submarines because it doesn’t smoke unless it’s heated above 450F.

The roar that we hear when we place a seashell next to our ear is not the ocean, but rather the sound of blood surging through the veins in the ear.

Nine out of every 10 living things live in the ocean.

The banana cannot reproduce itself. It can be propagated only by the hand of humans.

Airports at higher altitudes require a longer airstrip due to lower air density.

The University of Alaska spans four time zones.

The tooth is the only part of the human body that cannot heal itself.

 

 

Rob

 

(Copyright 2016 Chrisman LLC. All rights reserved. Occasional paid job listings do appear. This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of Rob Chrisman. To subscribe please visit www.knowledgeforrealestateagents.com.)