Market Potential Study Plan for a Real Estate Sales Branch Office in the Southmost Area of...
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Market Potential Study Planfor a Real Estate Sales Branch Office in the Southmost Area of Brownsville, Texas
C. Frank Wood
Problem Statement:
• Is there a market in the Southmost area to sustain a real estate sales branch office?
The Research Question:
• Are there enough people in the Southmost area willing to take advantage of real estate services?
Survey Size, Style, and Response:• Necessary calculated sample size:
52
• Style: Door-to-door, personal survey
• Actual completed surveys:54
Determination of Sample Size:
• Based on a break-even analysis for a real estate service branch office of one salesman, only 5% of the Southmost area needs to utilize the office’s services
• p = .05 • Z = 1.645 (level of significance = .05), E =
.05• n = 51.41
1. How long have you lived in your home?
11 20.4 20.4 20.4
12 22.2 22.2 42.6
10 18.5 18.5 61.1
8 14.8 14.8 75.9
13 24.1 24.1 100.0
54 100.0 100.0
54 100.0
1 TO 5YEARS
6 TO 10YEARS
11 TO 15YEARS
16 TO 20YEARS
20 +YEARS
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
YEARS IN HOME
1. How long have you lived in your home?
YEARS IN HOME
20 + YEARS16 TO 20 YEARS
11 TO 15 YEARS6 TO 10 YEARS
1 TO 5 YEARS
Coun
t
14
13
12
11
10
9
8
7
2. How many homes have you lived in since moving to the area?
4 7.4 7.4 7.4
9 16.7 16.7 24.1
10 18.5 18.5 42.6
10 18.5 18.5 61.1
6 11.1 11.1 72.2
3 5.6 5.6 77.8
6 11.1 11.1 88.9
4 7.4 7.4 96.3
1 1.9 1.9 98.1
1 1.9 1.9 100.0
54 100.0 100.0
54 100.0
1
2
3
4
5
6
7
8
9
10
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
NUMBER OF HOMES LIVED IN
2. How many homes have you lived in since moving to the area?
NUMBER OF HOMES LIVED IN
10987654321
Cou
nt
12
10
8
6
4
2
0
3. Did you locate your home on your own, or did you use a real estate service firm?
41 75.9 75.9 75.9
13 24.1 24.1 100.0
54 100.0 100.0
54 100.0
ON OWN
REALESTATEFIRM
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
HOW HOME WAS LOCATED
3. Did you locate your home on your own, or did you use a real estate service firm?
HOW HOME WAS LOCATED
REAL ESTATE FIRMON OWN
Cou
nt
50
40
30
20
10
0
4. Do you rent or own the house you are living in?
17 31.5 31.5 31.5
37 68.5 68.5 100.0
54 100.0 100.0
54 100.0
RENT
OWN
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
RENT OR OWN
5. Would you consider using a real estate service firm in the sale of your home?
17 31.5 31.5 31.5
21 38.9 38.9 70.4
16 29.6 29.6 100.0
54 100.0 100.0
54 100.0
N/A
YES
NO
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
R. E. FIRM TO SELL HOME
5. Would you consider using a real estate service firm in the sale of your home?
R. E. FIRM TO SELL HOME
NOYESN/A
Cou
nt
22
21
20
19
18
17
16
15
6. Would you consider using a real estate service firm in the search for another home?
33 61.1 61.1 61.1
21 38.9 38.9 100.0
54 100.0 100.0
54 100.0
YES
NO
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
R. E. FIRM TO BUY
6. Would you consider using a real estate service firm in the search for another home?
R. E. FIRM TO BUY
NOYES
Cou
nt
34
32
30
28
26
24
22
20
18
7. Are you planning on moving in the next...
8 14.8 14.8 14.8
8 14.8 14.8 29.6
6 11.1 11.1 40.7
32 59.3 59.3 100.0
54 100.0 100.0
54 100.0
NEXT 1TO 6MONTHS
NEXT 7TO 12MONTHS
NEXT 13TO 24MONTHS
NOTKNOWN
Total
Valid
Total
Frequency PercentValid
PercentCumulative
Percent
PLANS TO MOVE
7. Are you planning on moving in the next...
PLANS TO MOVE
NOT KNOWNNEXT 13 TO 24 MONTHS
NEXT 7 TO 12 MONTHSNEXT 1 TO 6 MONTHS
Cou
nt
40
30
20
10
0
Results Needed for Further Research:• at least 5% of all
home owners must be willing to take advantage of a real estate service firm when they sell their home
• at least 5% of all respondents, owners and renters, must be willing to take advantage of a real estate service firm in the search for a new home
Survey Results:
• 38.9% of all owners responded that they are willing to take advantage of a real estate service firm when they sell their home
• 61.1% of all respondents, owners and renters, stated that they are willing to take advantage of a real estate service firm when they search for a new home
Test of Hypothesis for Selling:
• Ho: p < .05
• Ha: p > .05
• Level of Significance = .05
• n = 54
• pbar = .389
• p = .05
• Zcrit = 1.645
Test of Hypothesis for Buying:
• Ho: p < .05
• Ha: p > .05
• Level of Significance = .05
• n = 54
• pbar = .611
• p = .05
• Zcrit = 1.645