Executive Summary The Case for Re-Branding Fairfax Realty Analysis: Where Are We Now? Like all real estate firms in the area, Fairfax Realty is facing a buyer’s market with a large amount of housing inventory and fewer buyers than in the past five years. Rising interest rates, first time home buyers who are priced out of the market, seasonality of sales, and attraction and retention of quality agents are also challenges faced by Fairfax Realty and its competitors. Most firms in the region also have to contend with competition from the local real estate giant, Long and Foster, as well as the power of nationally established brands, such as Weichert and Re/Max. Compared to most of its competitors, Fairfax Realty is not in a better or worse position to attract home buyers and sellers (and attract/retain desirable agents) in the current market. While competition for the relatively few home buyers in the market will be fierce, no other regional real estate firm appears to be making an effort to significantly change their business practices or marketing approach in response to current market conditions or trends. Objectives: Where Do We Want to Be? A desirable goal for Fairfax Realty would be to identify which factors impact its business that it can control and change. Objectives supporting this goal would include actively marketing to people who are most likely to buy a home, and determining the best ways to attract and retain quality real estate agents. Fairfax Realty can’t change the economy, but it can study trends and tailor its marketing approach to take advantage of those trends. The culmination of this effort will set Fairfax Realty apart from the competition and give home buyers and agents a “reason” to choose Fairfax Realty. Strategies: Which Way Is Best? The strategic direction for this year is initiating innovative “get-noticed” strategies with branding, consumer segmentation, advertising, business practices, and the website. Fairfax Realty has little to risk and everything to gain by creating a compelling and focused brand image. Creating this brand will also help Fairfax Realty attract and retain agents who will want to be affiliated with it. Tactics: How Do We Get There? Identifying the most important target demographic groups is key. While no other real estate firm appears to be marketing to women, it is clear from research findings that women make up an important target audience, both as home buyers and as real estate agents. Creating a fresh, friendly, and appealing brand—which will be reflected in a new website, logo, marketing 1 materials, and print advertising campaign—will put Fairfax Realty in a position to earn more sales and attract/retain more agents. This document will: • Identify the trends that impact Fairfax Realty’s business. • Examine the competition and learn from their successes and missteps. • Provide an overview of Fairfax Realty’s strengths and weaknesses. • Identify the target audience and how to best market to them. • Suggest a brand direction for Fairfax Realty. 2 Market Overview and 2007 Forecasts An overview of current and forecasted trends affecting the DC area real estate market. Slow but Stable Everyone agrees that the days of selling a home well above its listing price in a matter of days are over. Area real estate firms are facing a buyer’s market, with a substantial inventory of homes for sale. Although sales will decrease this year as they did last year, demand for housing is expected to remain strong because of a booming job market (creation of 60,000 new jobs are estimated for 2007, according to George Mason’s Center for Regional Analysis) and low unemployment. This is largely because of federal spending. The demand for existing housing inside the Beltway will be greatest. Although DC area home prices doubled in the past two years, people moving into the DC job market from similarly inflated real estate markets, such as New York City, Boston, and San Diego, can afford to purchase homes here. For 2007, experts are forecasting: • Sales units (number of homes sold) and sales volume will decrease. Last year, home sales in the Washington metropolitan area fell from $50.5 billion in 2005 to $37 billion in 2006, according to the Center for Regional Analysis (CRA), about a 30% decrease. Rising mortgage rates discouraged sales. • Inventory of homes is (and will continue to be) large. In Maryland, the number of homes listed for sale is double what it was a year ago. The Northern Virginia Association of Realtors (NVAR) reported that the number of Virginia homes for sale increased 198% in 2006. • Home prices will not fall. From 2002-2005, home prices rose 76%. In 2006, they rose 11%. The CRA predicts home prices will rise 2%-6%, but that they will not fall. • It will take longer to sell a home. Historically, homes sold in 15 days in 2005 and in 49 days in 2006. CRA forecasters estimate it will take as long as 90 days to sell a home in 2007. • Making a living as an agent will be more difficult. The US Department of Labor reports that during periods of increasing interest rates and low sales volume, agents (especially beginners) tend to work fewer hours or even leave the profession. 3 Real Estate Marketing Trends • Real Estate firms are actively marketing to women home buyers. According to Mortgage News Daily, nationally branded real estate companies, such as Century 21, are responding to NAR and Harvard University market research findings that women represent the fastest growing market segment of home buyers by featuring women home buyers in their commercials and print advertisements. • Inman News reports that technological innovations are changing the way real estate professionals do business. This includes the use of websites, web slide shows, interactive maps, and lead generators. Zillow.com offers free, instant valuations, free web site postings of home for sale by agents and homeowners, and “Make Me Move” price incentives. Web-based real estate agencies, such as Zip Realty, operate under a low overhead business model and pass the savings on to home buyers in the form of discounts. 4 Target Consumers and Demographics Analysis of market research findings on home buyers in the DC area real estate market. Affluent, Educated, White Collar and Able to Buy Forecasters predict the majority of 2007 home sales in this area will be to upper-income earners. A desirable target for marketing is affluent local home buyers, especially those seeking single family homes inside the Beltway. In the Washington metropolitan area, 50% of the population has a household income of $100,000 or more. Single women are another important market. The Wall Street Journal and The Dallas Morning News report that real estate firms and builders are starting to target women as an important and fast-growing segment of home buyers, sellers and renters. In addition, the NAR reports: • In the DC area, single-family homes account for 55% of purchases, followed by town homes (30%) and condos (13%). • Most local home buyers have previously bought a home (62%). Veteran local home buyers have a median income of $104,000 • First time home buyers tend to be in their early 30s, married, and have a median income of $86,000. Single women also account for many first time home buys. • DC area home sellers have a median income of $120,000. Important Home Buyer Customer Groups 1. Married Couples. The largest market segment of home buyers are married couples, usually double-income, with and without children, according to the “NAR 2006 Profile of Home Buyers and Sellers.” They account for 61% of home purchases. 2. Women. As the key home purchase decision maker in married couples, women account for an important factor in the largest segment of buyers. However, in addition, single women (with and without families) are the fastest growing segment of home buyers, according to NAR researchers. Fannie Mae estimates that in the next three years, 28% of households will be headed by women. In 2006, 22% of the nation’s homes were bought by single women, and in the DC area, 25% of home buyers were single women. 47% of the nation’s condos were bought by single women. Another growing trend is second home purchases—single women 5 bought 13% of second homes in 2006. Their buying behavior is driven by the desire for safety, social opportunities, and proximity to their workplace. When looking for a home, female homebuyers tend to take longer to shop and research their options on the Internet, and they often turn to female real estate professionals to assist them. According to a Sears survey, 92% of women home buyers consider their home purchase as a financial investment. 3. Immigrant and Minority Families. In the 2006 study, “State of the Nation’s Housing,” Harvard University researchers identified foreign-born and minority home buyers to be a fastgrowing market segment. More than 1/3 of the residents of the DC area are a member of a minority group; overall, 18% of U.S. residents are immigrants. 18% of home buyers in this area identify themselves as belonging to a minority group. 4. Affluent Baby Boomers. Forty percent of the Washington area residents are baby boomers— between the ages of 40 and 59 years. According to the Harvard University study cited above, a significant home buying trend now and through the next ten years will be affluent baby boomers who will buy second homes or move into retirement communities now and over the next ten years. Buying Behavior In general, consumers make decisions based on perceived price, quality, reputation, track record, ease and convenience, proximity, or special knowledge and services. According to the NAR: • Most home buyers use both the Internet and a real estate professional to find a home. • Consumers primarily select agents based on referrals (50%), as well as by “for sale” signs and office visits (about 10% each), open houses (4%) and Internet sites (3%). Most home buyers and sellers choose an agent based on personal reputation rather than affiliation with a particular firm. • The main thing buyers want from their agent is help finding the right home (56%). They also want help with contracts (13%) and with negotiating price (10%). • People want to buy homes that are priced right and in close-in neighborhoods with good schools. In order of importance, the buying decision is based on price, curb appeal, condition, proximity to good schools, and attractive financing. 6 Women as a Target Market When selecting a target market, Fairfax Realty can consider the past, present, and future: • Experience: the kinds of customers that Fairfax Realty feels it has best served. • Market research: significant customer groups identified in current studies. • Forecasts: future trends for emerging customer groups. While no other local real estate firm appears to be marketing to women, it is clear from research findings that women make up an important target audience, both as home buyers and as real estate agents. Creating a fresh and appealing brand will put Fairfax Realty in a position to earn more sales and attract more agents. • Women home buyers are the fastest growing market segment, and constitute half of the three other segments (married home buyers, minority/immigrant home buyers, and baby boomers). • Women home buyers prefer female sales agents, attorneys, and mortgage brokers, so it is logical that they would also respond to a brand image designed to appeal to women. • No other real estate agency is marketing with an eye towards women, so taking this approach will set Fairfax Realty apart from the competition. • Fairfax Realty can easily target this market through branding, advertising, and its web site. • Sales agents will want to affiliate themselves with a realty brand that is appealing to women, since many aspects of the real estate business are female-oriented. The majority of sales agents are female, and they choose to become sales agents for reasons that are especially important to women, such as the flexibility to spend time with their families. Success in this business also depends on relationship-building skills that are strengths for women, such as patience, the ability to listen, and sensitivity to a client’s emotional needs, as well as organizational skills and knowledge about homes, according to a national study reported by Sacramento Business Journal. • Marketing to women does not need to exclude men. It is possible to appeal equally to both. Making the Fairfax Realty Brand Appeal to Women (as well as Men) The next step is to review the way other businesses craft their advertising, logos, and marketing efforts to women. There’s usually a high degree of consistency in look and tone among these 7 companies. Since these strategies have been thoroughly tested by corporations with substantial marketing resources, there is no need for Fairfax Realty to re-invent the wheel. Identifying the kinds of brand images that would appeal to women home buyers is easy. Women home buyers shop at stores like Lowes, Target, Hallmark, and Crate and Barrel. They read magazines such as Redbook, Family Circle, and Better Homes and Gardens. They frequent Starbucks and Panera Bread. They buy Lean Cuisine entrees and join Weight Watchers and their local gyms. All of these companies brand effectively to women, and in remarkably similar ways. Graphic style, logo colors, and wording are quite consistent, because it is a formula that works and makes women recognize the product or service as designed “for them.” This lifestyle marketing approach can easily be adapted by Fairfax Realty. With this new brand image, women home buyers will feel “at home” with Fairfax Realty, as will female agents. And the bonus is that this approach, according to the research, is no less appealing to men. Interesting Facts About Women and Their Growing Buying Power According to a 2006 study by Deloitte Touche, “women represent one of the most attractive customer segments in the U.S. economy today, as evidenced by the increasing numbers of companies targeting women.” Women account for 55% of all direct purchases in the United States, and they influence 81% of purchases. In traditionally male-oriented product categories, such as banking, automotive, electronic, and home improvement products, women are making huge inroads as consumers, and companies are taking notice. According to Business Week, o Citibank, Merrill Lynch, and Charles Schwab have devoted entire departments to marketing investment products directly to women. o Harley Davidson saw an increase in sales after adding a section for women bikers on their web site. o Best Buy is taking notice of the fact that women buy more than half of all electronics purchases by training their sales staff to talk to women in practical terms, not in technical jargon. o Home Depot actively markets to women with classes that teach them how to do home repairs and by pursuing partnerships with home improvement shows like “Trading Spaces,” which are widely watched by women. Women, especially between the ages of 34 and 54, have rapidly outpaced men of comparable age in the use of the Internet. While in 1997, 67% of Internet users were male, today 52% of users are female. A new E-Marketer study predicts that women will be the majority online business users over the next five years. 8 The Competition Who is Fairfax Realty and who are its primary competitors. A Growing Fish in a Big Pond Fairfax Realty is a large, established, real estate firm whose primary business is residential sales (single family homes, town homes, and condominiums) in DC, Virginia, and Maryland. Based on regional sales volume reports, as well as rankings published by the Washington Business Journal, Fairfax Realty claims about 6% of the area’s home sales, and ranks in the top five real estate firms with $3.5 billion sales volume in 2005. Fairfax Realty collects income from its agents in the form of commissions and fees. Fairfax Realty ranks in the top five for number of agents in the DC area. Fairfax Realty also lists homes for sale. Based on a MLS sample of 800 properties in Silver Spring and Falls Church, Fairfax Realty presented approximately 5% of the available listings. In addition, Fairfax Realty sells and rents commercial properties, and rents homes. Approximately 16% of its listings are rentals. Fairfax Realty has attributed its success to the efforts of its agents, which they claim to attract and retain by a motivating commission/fee package, and to their low-overhead business model which includes operating fewer and smaller offices than their competitors. Competitors A Few Big Fish The giant firms in this area, according to sales rankings by the Washington Business Journal and analysis of home listings (see charts) are Long and Foster, Coldwell Banker Residential Brokerage, and Re/Max Allegiance. Long and Foster far outpaces the competition in terms of size, number of agents, and sales. Based on sales volume, Long and Foster has more than half of the region’s market share. Sales figures were not available for Weichert, but Montgomery County sales reports and their listings throughout the region place them in the top four companies. The largest companies account for more than half the listings in the DC area. A Few Medium Fish The fiercest competition for the remaining sales and listings in this area would be among firms that are similar in size to Fairfax Realty, as well as slightly smaller and more established firms. Lacking the brand recognition of Long and Foster and the nationally branded real estate firms, 9 these firms must offer something distinctive to their target markets. Also they are firms to watch because they are more likely to take risks and be more innovative to increase their sales. Examples of firms in this group include: • Jobin Realty, which posted nearly $3 billion in sales and has 1700 agents, in comparison to Fairfax Realty’s $3.5 billion in sales and 1800 agents. Their business model is remarkably similar to that of Fairfax Realty. • McEnearney (primarily in Virginia), W.C. and A.N. Miller, and Prudential Carruthers. These three firms, figuring in the top ten Washington Business Journal ranking, posted about the same amount in sales ($1.5 to $1.3 billion) and should be considered as somewhat of a competitive threat to Fairfax Realty, as they also operate inside the Beltway. Emerging smaller firms represent another competitive threat to Fairfax Realty, but also present interesting models worth noting. These include 4-year-old Sampson Realty which posted nearly $1 billion in sales last year with only three offices and 300 agents. Lots of Little Fish Collectively, individual agents and small, mom-and-pop agencies are claiming up to a third of the listings in the area, and represent somewhat of a competitive threat, although not one that can be directly dealt with. On the bright side, in a down market this could be considered as a pool of prospective agents, home sellers and home buyers. 10 Lo ng Co and ld w Fos el l B ter Fa ir ank fa er x Re Jo Rea lty /M bin ax Re a Al le lty Pr g ud R i en e/ anc e tia Ma W lC x1 0 ar .C ru 0 . & th A er Sa .N s m .M so ill er n R A v ea lt er Re y- y /M M H ax cEn es s e Re a a l rn e ty y G ro up Number of Sales Agents an d Co Fo ld st w er el Re lB /M an ax ke Al r le gi an Fa irf ce ax Re al Jo ty bi n Re al Re ty /M ax 10 0 M M cW ay ill ho ia od m s/ Ba lla M rd cE W ne .C ar .& ne Pr ud y A. N en . tia M ill lC er ar ru th er s Lo ng $Billions The Competition, by the Numbers Top 10 Residential Real Estate Companies 2005 Metro-Area Sales Source: Washington Business Journal 2007 Book of 30 25 20 15 10 5 0 Source: Washington Business Journal 2007 Book of Lists Residential Real Estate Companies 10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 11 Marketing Strategies Examination and comparison of the different ways Fairfax Realty and its competitors market themselves. Identify trends to emulate and problem areas to avoid. The Problem with Being Too Generic All real estate firms claim to offer great customer service and well-trained agents. So how does one realtor differentiate itself from the others? One can be the biggest. Another can be the oldest. Another may offer discounts, regional expertise, or other innovations. What makes Fairfax Realty different from its competitors? Why should an agent, home buyer, or home seller go with Fairfax Realty instead of one of its competitors? Unfortunately, Fairfax Realty does not stand out in any way from its competitors. With its generic marketing, it has not established a brand that sets it apart from the competition. Other firms, like Jobin Realty, Avery-Hess, and Keller Williams, may be said to have the same challenge. And actually, Jobin is currently in the process of re-branding itself. Why choose Fairfax Realty when there are larger and more visible competitors like Long and Foster, Weichert, and Re/Max? Or smaller but more technologically-oriented brokerage firms that offer discounts (such as Zip Realty and Corus)? The home buyer or seller with specific needs might choose a firm based on its reputation or longevity, such as McEnearney or W.C. and A.N. Miller, or a regional specialist, like Samson Realty in Northern Virginia, or a niche market specialist, such as premium properties (Evers and Co.) or condominiums (Cathie Gilmour). Like its competitors, Fairfax Realty has a web site that permits home buyers to search for listings. Unlike its competitors, e.g., Avery-Hess, Samson, and McEnearney, it does not purchase display print advertising in the Washington Post real estate section. It also has the disadvantage of relatively few listings, which means that it has less signage and community visibility than its competitors. The weakness of having relatively few listings is because NAR research indicates that consumers tend to use yard signage and open-houses to select a real estate agent (after the most-important referral from a friend, relative, or other agent). An Opportunity to be Different Traditional, stodgy, masculine, unimaginative. Most established real estate firms do not project a compelling brand image. The majority of firms “play it safe” by presenting themselves 12 as established, reliable, and conservative. Their signage and advertising designs (echoed on their websites) have not changed in years, and look like financial services firms of years past. Examples would include Long and Foster, W.C. & A.N. Miller, McEnearney, Re/Max-branded offices, and Evers and Company. This image is reflected in their brand names (usually the last names of principals), logos and websites with navy and red color schemes, capital letters, the use of shields, patriotic flourishes, and photographs of smiling agents in business attire. Warm and Friendly. A few firms and agents try to appeal to the female or family-oriented market. Their designs are friendly and home-centered. Long and Foster attempted this with its “planner” and “post-it” web layout, but the website is cumbersome to navigate and the planner motif is dated. Two Long and Foster agents created their own website with a scrapbook design, apparently in an effort to appeal to the women home buyers (NorthernVaRealty.com). Cathie Gill and Samson Realty are examples of two firms that employ “friendly” family-style, marketing approaches. W.C. & A.N. Miller and Re/Max have made half-hearted attempts to appeal to women by including a “token” flower on their otherwise traditional websites. Fresh and Modern. Firms that are trying to establish themselves as modern, different, accessible, and fresh opt for magazine-style layouts on their websites; brighter logo colors, such as orange and green; and contemporary, less-cluttered styling. These include firms like Corus, Zip Realty, and Zillow.com. Notably, financial services firms like PNC Bank (formerly Riggs Bank) and HR Block are also moving in this direction, and away from the “traditional” brand image of years past. Generic, no-brand. Other firms have more of a generic look, or slightly on the high-tech look side (e.g., use of icons, cool color tones, and capital letters), but no real established brand “personality.” The tone and look is rather cold. This would include Fairfax Realty, Jobin, Avery Hess, Prudential Carruthers, and Coldwell Banker Residential Brokerage. The lack of effective branding among its competitors is a golden opportunity for Fairfax Realty to clearly differentiate itself. There is little to lose and everything to gain. 13 14 SWOT Analysis Identifying Strengths, Weaknesses, Opportunities and Threats The SWOT Analysis provides Fairfax Realty with an overview of its strengths and weaknesses as well as a snapshot of the opportunities and threats that can affect its success. Fairfax Realty can then identify and prioritize the benefits it offers which are most important to its agents and customers. This is a useful step in developing the brand image and overall marketing strategy for Fairfax Realty. The attached SWOT Analysis should be considered as a work in progress, to be updated as needed. Definitions and Examples “Strengths” and “Weaknesses” are specific to Fairfax Realty, while “Opportunities” and “Threats” are external factors that are beyond Fairfax Realty’s power to control. Strengths set Fairfax Realty apart from the competition. They may be capabilities, competitive advantage, resources, assets, innovations, marketing strategies, reputation, quality, price, values, experience, knowledge, etc. List… What does Fairfax Realty do well? What do others see as strengths for Fairfax Realty? What kinds of resources does Fairfax Realty have? Weaknesses can be “fixed.” Examples include management issues, image, reputation, budget, location, etc. Identify… In what ways could Fairfax Realty improve? What do others perceive as weaknesses for Fairfax Realty? In what ways does Fairfax Realty have fewer resources than its competitors? Opportunities are external factors that affect Fairfax Realty’s business in a good way. They can be market trends, competitor vulnerabilities, partnerships, new markets, technological developments, etc. Pinpoint… What good opportunities are available to Fairfax Realty? What trends could Fairfax Realty take advantage of? 15 Threats are situations that negatively impact Fairfax Realty. Examples include competitors, the economy, seasonality, market demand, legislation, innovations that make part of the business obsolete, etc. Determine… What trends could harm Fairfax Realty’s business? What is the competition doing? Strengths Strong sales—in top five in region Recognized in industry as a top producer (WBJ, Realtor Magazine rankings) High number of agents. Decent number of offices in strategic locations throughout the area. Locations inside the Beltway where housing sales are forecasted to be strongest. Desire to change and grow. Attractive compensation package helps attract and retain agents. Opportunities Affluent home buyers. Federal government will keep unemployment low and create 60,000 new jobs. Internet will save RE brokers money: agents can work from home, reducing need for office space. Chance for Fairfax Realty to be a marketing trailblazer since no other firms have anything that compelling to offer: weak/nonexistent brands, uninspiring advertising strategies and logos, no segmentation efforts. Partnerships? Weaknesses Need for strategic direction. Name “Fairfax Realty” may be overly location-specific. Lack of branding or identifiable logo. Uninspiring signage. Web site needs to be more appealing and functional: seems dated and cold and is not frequently updated. Relatively few listings, less signage in the community. No ad or PR strategy. Office problems: parking, appearance. Industry reputation for hiring rookie agents, having untrained agents. Rogue agents doing their own thing with websites and advertising. Detracts from the brand. Management issues. Threats Fierce competition from Long and Foster, Weichert, and Re/Max offices. Competition from similarly sized firms. Online firms and little firms, collectively, take a huge share of business. Buyer’s market, fewer buyers, decreased sales units. Rising interest rates discourage home buyers. First time home buyers and lower and middle incomes priced out of the market. Seasonality of business—low in winter and fall, high in spring and summer. 16 Resources Studies and Presentations • “The Washington Region Economy and Housing Market in 2007.” John McClain, Center for Regional Analysis, George Mason University. January 18, 2007. • “The Real Deal: The Economic Forecast for the 2007/2008 Real Estate Industry.” Stephen S. Fuller, and colleagues. Center for Regional Analysis, George Mason University. January 18, 2007. • “Northern Virginia Association of Realtors Year-End Real Estate Report.” NVAR, December 2006. • “The State of the Nation’s Housing, 2006.” Joint Center for Housing Studies of Harvard University. • Current Real Estate Trends (for Virginia State Finance Committee), Lawrence Yun, NAR, October 2006. • Housing Market Trends and Forecast, Lawrence Yun, NAR, April 2006. • “Demographic Trends, Home Ownership and Fair Growth.” Virginia Tech Center for Housing Research. February 2003. • National Association of Realtors Profile of Home Buyers and Sellers, 2004. • The 2003 National Association of Realtors Profile of Home Buyers and Sellers, Maryland State Report. • The 2004 National Association of Realtors Profile of Buyers and Sellers, Virginia State Report. • National Association of Realtors Home Price Analysis for the Washington, DC Region, July 2006. • “Montgomery County Housing Report,” Fred Flick, August 2006. • “Occupational Outlook: Real Estate Brokers and Sales Agents,” U.S. Department of Labor Bureau of Labor Statistics. • “Home Price Analysis for Washington, DC Region.” National Association of Realtors, July 2006. “Product Development and Marketing to Women.” Deloitte Consulting. January 2006. News and Magazine Articles Rankings • “Residential Real Estate Companies: Ranked by Metro Area Sales Volume.” Washington Business Journal, April 21, 2006. • “Realtor Magazine’s Top 100 Companies Ranked by 2005 Sales Volume.” July 2006. 17 Trends • “2007: A Time of Widgets and Web Redesigns, Inman News, January 12, 2007. • “Ten Steps to Creating Your 2007 Web Marketing Plan,” Realty Times, January 3, 2007. “I Am Woman, Hear Me Shop: Rising Female Consumer Power.” Business Week, February 14, 2005. Market Conditions and Forecasts • “Agents Trump Their Professional Know How.” Washington Post, October 1, 2006. • “Real Estate Market May Be Headed for a Turnaround.” Washington Business Journal, December 27, 2006. • “Buyers, It’s Your Move: Contracting Market Pulls Power Away from Sellers.” Washington Post, September 30, 2006. • “Reality Check” (state of the market) Times Community Newspapers, July 19, 2006. • “2007 Market Forecast” The Washington Times, December 29, 2006 Women Home Buyers • “Single Women Take No. 2 Spot in Home Market: Realtors Refocus to Keep Pace With Trend.” Dallas Morning News, December 10, 2006. • “Single Women Buyers: The Growing National Market.” Mercer County Chamber of Commerce, February 1, 2005. • “Single Women Become A Force in Home Buying.” The Wall Street Journal, November 24, 2004. • “Appeal to Women Targets Growing Market.” Houston Business Journal, September 29, 2005. • “Single Women Home Buyers Finding A Home of Their Own.” Mortgage News Daily, July 2006. Realtor Web Sites • • • • • • • • • • • Averyhess.com Cathiegill.com Cbmove.com (Coldwell Banker Residential Mortgage) Corushome.com Eversco.com Jobinrealty.com Longandfoster.com Mayhoodcompany.com McEnearney.com McWilliamsballard.com Only4.com (Samson Realty) 18 • • • • • • • Prudentialcarruthers.com Sellahome.com (Re/Max Premier) Wcanmiller.com Wesellmore.com (Re/Max 100) Yourhomesolutionscompany.com (Re/Max Allegiance) Zillow.com Ziprealty.com 19