New and extensive research about consumers across the province is available and can help you to grow your real estate business. You can find out more about who is in your market to buy or sell a home, where they live and the best way to reach them.
The Ontario Real Estate Association (OREA) has completed a wide-ranging research project of consumers to examine their intentions to move or buy property in the next two years. The study combines primary research from multiple sources, including leisure, lifestyle and media behaviours, plus national census data and postal code information. The results can help you understand your local market and identify segments of the population to target.
The findings from the study are called Uncovering consumer data for REALTORS®. A detailed report, video webinar, and summaries of the findings are all part of this research, the first of its kind to be made available to OREA members. Some of the research was first presented in a one-hour webinar on June 28 while more details are being made available online to OREA members on the association’s web site.
This initiative will help you to understand your clients through a market segmentation of Ontario real estate consumers. It shares insights on the demographic, geographic and financial profile of consumers. It also reveals details about market size, social values, financial portfolios and media consumption habits. Members of OREA who were not able to take part in the webinar can still access the video recording of it. As well, maps of various regions of the province and detailed information from each of those markets can be downloaded for your future reference.
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“We’re delighted with the scope and magnitude of this information,” says Ray Ferris, OREA president. “This detailed consumer research will greatly help REALTORS® in understanding real estate needs and characteristics of their local communities. Knowing more about the demographics and profile of your market is an incredibly useful tool for our members. This helps us all to understand better who our clients are, how they make decisions and how we can help them.”
The data will help you
- Develop a better understanding of who your clients are, how they make decisions and how you can help them
- Expand your business by knowing the areas with the best chance of success
- Craft relevant messaging and communications with more insight into consumer mindsets
- Tweak your advertising and messaging to catch consumer attention and demonstrate the value you bring
- Understand who will be most affected by changes in the real estate industry
- Anticipate client needs and capabilities to create a more enjoyable process for them – and you.
“This is all part of an ongoing initiative to help our members grow their business,” adds Ferris. “It’s not just a one-time thing but rather an effort to continuously give REALTORS® the detailed knowledge they need to grow their business.”
For more information, visit the Consumer Research - Reports page.
View the recorded webinar.
Download a text-only PDF of the July-August EDGE
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