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Where do your buyers come from?

Have you ever wondered where out of town buyers come from?

Sure, you know where the ones you talk to come from but what about the ones you don't talk to (or help buy a home)? Do you think it would be useful to know?

nar realtor research provided compliments of jim lee knoxville tn realtor

NAR's Research Department has a free study avaialable that can help.

Here's a couple of ways you can use it to attract more buyers.

1. Advertise in those areas and contact people moving to your area before they even get there. I was pretty amazed to find the most people moving into my area were people from the contiguous counties. 817 families from Blount County which is south of Knoxville, moved into Knox County in just 1 year. Anderson County to the north had a total of 634 families moving to Knox County.First among states with buyers moving to my area were (not surprisingly) Florida, California, and Georgia. Broward County, Florida lost 81 households to Knox County the year this study was done, Hillsborough County sent 74 households to the Knoxville area.

Here's a graph that shows where new Knox County residents come from.

Where do new Knox County, Tennessee residents come from?

2. Contact Realtors in the areas where a lot of people moving to your area come from and ask for their referrals. I'm betting this is something not very many other Realtors are doing.

knox county tn homes sales by historic trends

Best of all this study is absolutely free to NAR members. Just go to www.Realtor.org, log in, click the "research" tab, then the "right tools, right now" link and a wealth of information and tools will be displayed to you. A lot of them are free or only a nominal fee.

Jim Lee, CRS, ABR, GRI, ACRE, NAR Certified e-PRO Trainer
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Realty Executives Associates, Knoxville, Tennessee
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Posted by Jim Lee, Knoxville Tennessee Realtor® on 08/03/2009 08:36 AM

Comments (13)

Relocation Study in the Technology and Tools Channel

nar research department, where do out of town buyers come from

Originally posted at: Knoxville Tennessee real estate: Where do your buyers come from?

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13 Comments on Where do your buyers come from?

AUG

I have been doing this since I began in real estate. You must figure out where your clients are and market to them where they are.

Good post! I have a handfull of buyers that found me doing a simple search but I like your idea!

Jim,

Great ideas....I would add connect with agents in those areas you want to receive referrals from online also.

Good for you Betina; you're one of the few I'll bet.

And it's free Wayne.

That was actually point 2 in my post Rebecca: "2. Contact Realtors in the areas where a lot of people moving to your area come from and ask for their referrals. I'm betting this is something not very many other Realtors are doing."

Jim - I am one of those that has not contacted agents in the areas people are moving from to ask for their referrals. I like that idea, and will be doing that in the future.

Dear Troy, You can contact the ones in AR..... its easy!

;)

AUG

Great information. I never thought about it before.

AUG

This is GREAT information. I had no idea it was available. I'm going to NAR to check it out right now. Thanks so much for the insight.

I went to NAR and the areas you mentioned but I can't find anything about the info you posted on people moving to my area. Can you be more specific about where to find this free info?

AUG

Sure Jenny, go to Realtor.org

If you don't have an account, you'll have to create one. Log in

Search for "Relocation Report"

Click the link and place an order as if you were paying for it; you won't be charged anything, this is free.

Follow the directions.

The number one source of buyers for LA County was Orange County with 14,058 households.

Jim, it's always important to understand where the buyers are coming from and target that market Now I'm going to go check the link. Thanks for providing it!

SEP

Hey Jim,

Great post! I didn't see the red graph you have in this post on the relocation report. You seem to use a lot of graphs in various posts....do you make them yourself?

Hi Lynda,

Yes, I make lots of graphs because they explain most data with just one look. Easy to tell which way trends are going, price points, your production versus others, and lots of other stuff.

After years of frustration trying to use Excel I found this great graph creator online at the National Center for Education Statistics Kid's Zone Bookmark it so you won't lost it. It's turn you into a graph junkie too. ;)

It's a children's education site so I was able to grasp it pretty quickly. You can pump out all sort of graphs in pie, bar, line, and several other formats.

It takes me about 5-10 minutes to create a graph for most anything. The most time consuming part is inputting the data.

Give it a try; quick, easy, and best of all, FREE.

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