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Metropolitan Indianapolis Board of REALTORS®
Broker/Owner Meeting April 19, 2013
Metropolitan Indianapolis Board of REALTORS®
Rick Lux 2013 MIBOR President
Welcome
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Research Focus: Community Preference Survey Home Buyers & Sellers Profile Diversity Study Broker Transition: Timelines Requirements
Just Ask Dona
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MIBOR member commented on a status. Member wrote: "Thank you for your posts. You often provide a chuckle and an antidote to stress"
Just Ask Dona
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Concierge: Office Visits Trainings Central contact for your questions Contact: Dona Keefe at [email protected] or 956-5245 www.facebook.com/justaskdona Twitter: @justaskdona
REALTOR® Foundation
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Transactional Giving Success: In 2012, 30% of gifts were transactional 2013 YTD, 57% of gifts were transactional Verdict = agents love it! Contact: Foundation Office at 956-5255
Metropolitan Indianapolis Board of REALTORS®
Steve Sullivan MIBOR Chief Executive Officer
Background
Partnered with Indianapolis Metropolitan
Planning Organization
Telephone survey of 1,502 residents
December 12-19, 2013
Largest survey of its kind locally
Designed to reflect NAR’s 2011 survey
What the Heck is Quality of Life?
Central Indiana is Happy!
Housing Styles
Community Types + Opportunities
Neighborhood Qualities
Neighborhood Qualities
Neighborhood Qualities
Realities
Outreach
Presentations to date:
MIBOR members
Hendricks County official
Southside Division of MIBOR
Health by Design Coalition
Hancock Economic Development Council
Next Steps:
Complete county presentations throughout region -Boone, Brown, Hamilton, Johnson, Marion, Montgomery, Morgan, Shelby
For more information visit:
www.mibor.com/communitypreferencesurvey.asp
Metropolitan Indianapolis Board of REALTORS®
Janet Jernigan 2013 MIBOR President-Elect
2012 Home Buyers & Sellers Profile
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• Administered by NAR
• Oversampled for MIBOR service area • Those who bought or sold between July of 2011 and
June of 2012 • National response rate = 9.1% • Central Indiana response rate = 7.8%
First-Time Home Buyers
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Market Share of First-Time Buyers
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Percentage of First-time Buyers 2011 US = 37% 2011 Central Indiana = 29% of the market – LAGGING 2012 US = 39% 2012 Central Indiana = 36% - BIG JUMP
Buyers Overall
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• Median Income = $67,500 ($78,600 US)
• Percentage of married couples = 61% (65% US)
• Percentage of single females = 22% (16% US)
The Buyer’s Process
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• Typical buyer searches 9 weeks, views 10 homes
• 44% say first step is look online
Sellers Overall
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• Has lived in home for 9 years on average (in 2007 it was 6 years)
• 88% used a REALTOR® • Sold for 94% of list price; 71% reduced at least
once • 40% offered incentives
REALTOR® Relationship
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• 40% of sellers found REALTOR® through referral
• 23% used the REALTOR® they used previously • 2/3 contacted ONLY ONE agent before decision • 93% would use their REALTOR® again
2012 Home Buyers & Sellers Profile
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Executive Summary:
www.mibor.com/pdfs/2012_NAR_HBS_Report_Executive_Summary.pdf
Metropolitan Indianapolis Board of REALTORS®
Todd Sears Managing Principal, Pyxso Analytics
People Are More Than Numbers, But
Knowing Numbers Helps Prepared by Pyxso Analytics/Todd Sears
for MIBOR
April 2013
30
Overview
Data description
Significant results
Q&A
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Data Description
BLC® Listing Service area
2007-2011 American Community Survey (ACS)
Income, race, nation of origin, language, age, and
household composition
Numbers, maps, statistical analysis
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Source: 2007-2011 American Community Survey
Homeownership Rates 34
Source: 2007-2011 American Community Survey
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Source: 2007-2011 American Community Survey
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US
Indiana
MIBOR
Boone
Brown
Decatur
Hamilton
Hancock
Hendricks
Johnson
Madison
Marion
Montgomery
Morgan
Putnam
Shelby 1.1%
1.5%
6.8%
1.3%
1.8%
3.1%
2.0%
-1.0%
Change in Share of Non-White
0.7%
4.5%
1.9%
3.9%
5.2%
0.2%
-0.3%
0.2%
Source: 2007-2011 American Community Survey, 2000 Census Summary File 3
37 Source: 2000 Census Summary File 3
38 Source: 2007-2011 American Community Survey, 2000 Census Summary File 3
Foreign-Born and Homeownership
Some factors correlated with homeownership for both groups Older +
Children +
Multi-earner +
Income +
Model estimates about 76% correctly
Demographics explain about ½ of difference in homeownership rate
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Source: 2006-2010 American Community Survey PUMS
40 Source: 2007-2011 American Community Survey
41
Source: 2007-2011 American Community Survey
Age and Homeownership 42
Source: 2006-2010 American Community Survey PUMS
Some factors correlated with homeownership for both groups
Marital status +
Education +
Income +
Model estimates about 77% correctly
Demographics explain about ¼ of difference in homeownership rate
43 Source: 2007-2011 American Community Survey
44 Source: 2007-2011 American Community Survey, 2000 Census Summary File 3
Conclusions
Diversity has many dimensions
Diversity varies by geography
Use data (vs. perceptions) as a starting point
for discussion and analysis of market
opportunities
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Q&A
Contact Info:
Pyxso Analytics – Making Data Speak Your Language
Todd Sears
www.pyxso.com
317.564.9636 (office)
317.507.9823 (mobile)
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Metropolitan Indianapolis Board of REALTORS®
Kathy Harbaugh VP of Professional Development
Indiana Association of REALTORS® & RECP
Kathy Harbaugh Vice President of Professional Development Indiana Association of REALTORS® & RECP [email protected]
LICENSE LAW TRANSITION PROGRESS REPORT
Kathy Harbaugh Vice President of Professional Development Indiana Association of REALTORS® & RECP [email protected]
1 of 9 Find us online at www.recp.org
JULY 12, 2012 POST SALES LICENSEE RENEWAL
BROKER SALES REFERRAL
11,151
8,258 5,591
7 of Find us online at www.recp.org
FEBRUARY 20, 2013 ACTIVE & REFERRAL LICENSES
BROKER SALES REFERRAL
12,015
8,365 6,438
13
3 of Find us online at www.recp.org
APRIL 5, 2013 ACTIVE & REFERRAL LICENSES
BROKER SALES REFERRAL
12,475
8,103 6,508
9
of Find us online at www.recp.org
OVERVIEW ACTIVE & REFERRAL LICENSES
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-Mar
-12
5-A
pr-
12
12
-Ap
r-1
2
19
-Ap
r-1
2
26
-Ap
r-1
2
3-M
ay-1
2
10
-May
-12
17
-May
-12
24
-May
-12
31
-May
-12
7-J
un
-12
14
-Ju
n-1
2
21
-Ju
n-1
2
28
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n-1
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5-J
ul-
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l-1
2
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-Ju
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-Ju
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2-A
ug-
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9-A
ug-
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-Au
g-1
2
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-Au
g-1
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30
-Au
g-1
2
6-S
ep-1
2
13
-Sep
-12
20
-Sep
-12
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-Sep
-12
4-O
ct-1
2
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-Oct
-12
18
-Oct
-12
25
-Oct
-12
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ov-
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8-N
ov-
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-No
v-1
2
22
-No
v-1
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-No
v-1
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6-D
ec-1
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-Dec
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20
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-Dec
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3-J
an-1
3
10
-Jan
-13
17
-Jan
-13
24
-Jan
-13
31
-Jan
-13
7-F
eb-1
3
14
-Feb
-13
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-Feb
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7-M
ar-1
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-Mar
-13
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-Mar
-13
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-Mar
-13
4-A
pr-
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BROKER
REFERRAL
SALES
4 9
of Find us online at www.recp.org
TRANSITION UPGRADES SALESPERSON TO BROKER LICENSEES
8,103
5 9
1,415 ALREADY
UPGRADED
NEED TO
UPGRADE
15 MONTHS LEFT
(540/MONTH)
of Find us online at www.recp.org
JUMP TO THE FRONT COMPLETE YOUR TRANSITION ASAP
6 9
Legacy Brokers
Brokers need 16 hours of CE by 6/30/2013
8 Hours of CE needed from 7/1/2013 to 6/30/14
New Renewal Cycle starts 7/1/2014
THANK YOU
Contact Us 7301 N Shadeland Ave, Indianapolis, 46204 P. 800-742-4067 / [email protected]
Kathy Harbaugh
Vice President of Professional Development
Indiana Association of REALTORS® &
Real Estate Certification Programs
(317) 913-3236
(800) 742-4067 (toll-free within Indiana)
