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HI I'm Bill Coughlin RE/MAX Little Oak Realty Abbotsford and I am tempting to carry Jim Lees 26 year legacy of providing the RE/MAX reports.
I love statistics to the 9th degree and back in 1983 I started analyzing the adsorption rates and developed a very detailed Home Price Index.
Monthly I will be sending out the RE/MAX Market Share Reports to 1,000+ RE/MAX agents in the lower currently
I'm doing the local 17 cities and will move into the other Real Estate Boards when time or as volunteers arrive.
I also do the STR Sell-through rates, the MTI market trends , and a very detailed HPI Home Price Index for
our 17 lower mainland market areas which is published in the (VancouverMarketReports.com)
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The Lower Mainland Real Estate Market Reports
温哥华里士满加拿大不动产市场变动
Index Abbotsford, Mission Chilliwack, Langley, Surrey, White Rock, East vrs West
Richmond, East Van, North Van, Burnaby, Coquitlam, Maple Ridge
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How can I trust this data??
Please download the data and check out our calculations yourself and help us make it perfect ..all suggestions appreciated . If the XLS spreadsheets is not attached then just request it and we will send it to you.send me the data so I can check the calculations
The Goal is to help RE/MAX Brokers and Agents have conclusive data to demonstration your current LOCAL market leadership and performance to assist your agents to get the listing over the competition. Much of this information you probably currently pay staff to compile ..so we hope to help you save some costs.
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When selling a home in Abbotsford RE/MAX is your best choice because of the following reasons:
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Chances are that a RE/MAX Agent will sell your home over the competition:
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(Here the RE/MAX Total sales including "Out of Area" RE/MAX agents are counted
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Listing with a local RE/MAXer gives you a higher chance of selling;
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eg; your LOCAL RE/MAX agents produce $$$$/ agent and the other guys produce less (Local City area only).
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Note:( here I remove the out of town RE/MAX agent production for these calculations) eg: Focusing on what is the Local RE/MAX agent is producing in the Local Area rather than the office total. I do not calculate in the out of town agents local volume, but divide the local agents volume by the number of local agents to give you the highest volume per agent . If I factor in the 30% out of town agents volume that sell 1 house here and there then the RE/MAX volume counting all those agents would dramatically drop the volume/ agent. So I focus on the local volume per local agent when ever practical ..
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Note: the listings and sales by non local agents in Chilliwack about 26% and in the Burnaby area it is nearly 75%. I think it is important to stress local office performance as stronger value than an out of town agent's services.. eg:LOCAL offices are involved in the community, know the neighborhoods, have office tours and have a strong local agent support base.
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I have now added in two major new statistics to really help you get the RE/MAX success story across and list more homes.
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Number of days on the Market to sell (Yah...... this one is usually a lower number than all the competition)
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You get more money when you sell with RE/MAX (Yes RE/MAX has the smallest discount from List price to Sale price of most all companies) Some companies really BUY their listings and then have huge discounts when they finally sell.
Bottom line we usually have have market share, office tours and have more exposure, resulting in a higher and faster sales price and now those facts are in print for your agents to use as listing tools. In fast markets the less informed offices can Under list and result in average prices well over list price.. So I will continue to adjust this report to demonstrate the extra professionalism of the RE/MAX agent.
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The VancouverMarketReports.com has even more detailed listing aids ( reports every 2 weeks)
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Adsorption Rates (STR the Sell-Through-Rates /month) this is a very useful tool to determine if the market is going up or down and help the seller better price their home.
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The Market Trend Indicators ( MTI ) This is the forward projections based on increasing or decreasing inventory levels. This is a wonderful tool for helping the customer see 1 month into the future.
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Sales Discount Rates (SDR) Average ( median): this is the difference from the List Price to the Sales price. This is our strongest indicator of market changes. When time allows and demand is there for the report ..an update every 2 weeks is the goal.
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Home price Index; (HPI) Many boards actually don't do Home price indexes and in general the boards that do produce HORRIBLE indicators of anything valuable. Local boards will average the 2 bedroom home and the 6 bedroom home, or a high end lot home and low end lot home and determine the average price with little adjustments.. So if the high end drops $100,000 and you sell more high end homes that month then the HPI (average) shows the prices went up instead of down???
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Note:We tempt to use very narrow study criteria to compare standardized home sizes and similar lots and areas.
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there are extensive Abbotsford Market reports Click Here
The Lower Mainland Real Estate Market Reports
温哥华里士满加拿大不动产市场变动
Index Abbotsford, Mission Chilliwack, Langley, Surrey, White Rock, East vrs West
Richmond, East Van, North Van, Burnaby, Coquitlam, Maple Ridge
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When looking at the data remember that the out of town RE/MAX agent sales are only counted for total RE/MAX sales.
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But all the performance reports such as volume per agent, DOM and discount are based on LOCAL listings/ sold data by local agents.
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Market Areas are determined by actual market areas not by municipal boundaries or by board areas necessarily.
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For example:
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White Rock include South Surrey Elgin area and this area will not be counted in Surrey.
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North Delta will be counted as part of Surrey as more out of town agents sell North Delta than Local Delta agents do.
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For example we calculate all the sales volume for the month only from the local city area stats as provided from the board for Processed date not Sales date.
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Note: this market share is to help a vendor pick a strong RE/MAX office to help sell their home and is not about how much your agents sold out of the area but only how dominant they sell their local market area.
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We can not use sold date as sales that are finally processed 2- 3 weeks later would then change the statistics.
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Eg: the previous months adsorption rate taken at the end of the month with increase by 10% or more if recalculated one week later.
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We will attempt to do monthly reports rather than cumulative reports so Brokers can see the monthly changes.
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If you would like some customized reports let me know, or
If you would like to sponsor Tri-Cities or another area let me know.
Bill Coughlin
RE/MAX Little Oak Realty
1-778-374-3744
[email protected]
, if you do not want any more RE/MAX market reports from me PLEASE reply Remove to this email.
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