Target Market Formal education: Some college/associate degree: 45% Bachelor's degree: 26% High school graduate: 9% Graduate degree and above: 11% Graduate study: 9% 1,288,702 members of NAR (National Association of Realtors) as of April 2006 Realtors who have a website - 87%; The typical realtor plans to spend $858 on technology products, $254 on technology services and $257 on technology training in 2004 5. 97% of realtors own and use a personal computer for real estate purposes
Market Trends 44 percent increase in the number of real estate agents in last five years Growing proportionally to housing growth 12.5 percent increase in housing units from 1990 to 2000
Customer’s Motivation To Buy Increase Salary –Median Income of a realtor in 2004: $49,300 -Average transactions sides / year: 12 -Approximate value of each transaction: $4,000.00 -One more transaction a year is extremely valuable Increase Customer Base, Increased Customer Service –Forty-four percent of recent home buyers chose their real estate agent based on a referral from a friend or relative. –Forty-one percent of buyers report that their agent's reputation was the most important factor in their selection of an agent.
Advertising and Promotion Media used: Internet ads using Google Ad words. Ads for our service will be displayed on websites and searches related to real estate. For example, a search on Google for “real estate demographics,” an ad for our site will be shown on the results page.
Advertising and Promotion Media Costs Impressions per day: 25,000 Click-through rate: 2% Average Cost Per Click: $0.25 Cost per day: $125.00 Cost per month: $3,750.00 Cost per year: $45,000.00
Advertising and Promotion Plans for generating publicity In order to attract visitors, we will offer a free version of our site so that people can see why Vision 360 is so useful. A more useful, specialized, subscription-based version of our website will be available to realtors. The free version of our site will direct realtors to our subscription-based site where they will find more useful and powerful tools for analyzing and viewing relevant demographic information.
Competitors demographicsnow.com -Full Subscription, $995 per Year FreeDemographics.com: -Price: free. -Generate tables only, no user/map interface ESRI.com: -Sells individual reports at $50 a piece. www.BuyDemographics.com -searches based on radius/map searches -generate reports -pricing: yearly plan $750.00 www.demographicreports.com -$99.00/report
Pricing A typical realtor plans to spend $254.00/yr on technology services Unlike our competitors we are directly targeting just the realtor market Yearly needs to be in their price range Example $100.00/yr, $20.00/mo