Baylor University Researchers Note Trends, Marketing Implications, for Real
Estate Agents
WACO, Texas, April 4, 2008 /PRNewswire-USNewswire/ -- Dr. Chris Pullig,
Director of the Keller Center for Research in Residential Real Estate
Marketing at Baylor University's Hankamer School of Business, noted today that
while existing home sales are on the decline there has only been a marginal
reduction in National Association of Realtors (NAR) membership, hence fewer
transactions are available to each individual agent. "For the agents who will
succeed in this kind of environment, the key is going to be who can operate
more efficiently and are more strategic in the way they allocate marketing
resources," Pullig said.
(Refer to graphic chart at http://business.baylor.edu/hsb/news/NARchart.jpg.
Source: National Association of Realtors.)
Though existing home sales have been waning since 2005, there has only been a
marginal reduction in NAR membership, a response that does not reflect the
strong correlation these two figures have shown in the past. During the
recent housing boom, which began in the mid-1990s and continued through the
first half of this decade, NAR membership nearly doubled -- from 729,266 in
1993 to 1.27 million in 2005. But as the number of homes sold shifted
downward in 2006, the number of real estate agents continued to rise.
"When we see these kinds of trends, we want to investigate the means by which
real estate agents most effectively generate revenue: What lead generation
techniques are most effective?" said Dr. Kirk Wakefield, chair of the
Marketing Department at Baylor. "What marketing strategies work best given
this environment? Taking this aggregate trend into consideration, the focus of
the Keller Center is on agents and what makes them successful as individuals.
We want to examine things such as the best ways to promote and communicate an
agent's business and the best ways to brand individual or group real estate
agencies."
The Keller Center is currently looking at issues that affect residential real
estate marketing strategies including lead generation and conversion, branding
issues, consumer expectations and pricing. While the research will remain
academic in nature, the Keller Center also focuses on making the information
learned accessible to the working real estate agent. Articles discussing the
center's studies will be available online at
http://www.baylor.edu/business/kellercenter, beginning June 2008.
"Moving forward, the center will focus its studies on the factors that
influence individual home buyers in their decision, as well as marketing and
management issues that are important to real estate agencies and small
businesses," said Pullig. "The faculty associated with the center will
generate research in areas yet untouched by academia, finding real answers to
age-old questions about buyer-seller relationships."
The Keller Center supports an academic major in Professional Selling. The
Keller Center encourages the participation of realtors in their research. To
be added to the Keller Center mailing list, please send your name, address and
email to Laura_Indergard@baylor.edu.
About Baylor Business
The Hankamer School of Business holds to a visionary standard of excellence
whereby integrity stands shoulder to shoulder with analytic and strategic
strengths to build leaders, not simply careers. Visit www.baylor.edu/business
for more information.
This news release was issued on behalf of Newswise(TM). For more information,
visit http://www.newswise.com.
SOURCE Baylor University
Laura Indergard, Associate Director, Keller Center, +1-254-710-4243,
Laura_Indergard@Baylor.edu, or C.J. Jackson, Director, Communications &
Marketing, +1-254-710-7628, Cynthia_Jackson@baylor.edu, both of Baylor
University
