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Market Potential Study Plan for a Real Estate Sales Branch Office in the Southmost Area of Brownsville, Texas

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Market Potential Study Plan for a Real Estate Sales Branch Office in the Southmost Area of Brownsville, Texas. C. Frank Wood. Problem Statement:. Is there a market in the Southmost area to sustain a real estate sales branch office?. The Research Question:.

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Market Potential Study Planfor a Real Estate Sales Branch Office in the Southmost Area of Brownsville, Texas

C. Frank Wood

problem statement
Problem Statement:
  • Is there a market in the Southmost area to sustain a real estate sales branch office?
the research question
The Research Question:
  • Are there enough people in the Southmost area willing to take advantage of real estate services?
survey size style and response
Survey Size, Style, and Response:
  • Necessary calculated sample size: 52
  • Style: Door-to-door, personal survey
  • Actual completed surveys: 54
determination of sample size
Determination of Sample Size:
  • Based on a break-even analysis for a real estate service branch office of one salesman, only 5% of the Southmost area needs to utilize the office’s services
  • p = .05
  • Z = 1.645 (level of significance = .05), E = .05
  • n = 51.41
1 how long have you lived in your home7
14

13

12

11

10

9

t

8

n

u

o

C

7

1 TO 5 YEARS

11 TO 15 YEARS

20 + YEARS

6 TO 10 YEARS

16 TO 20 YEARS

YEARS IN HOME

1. How long have you lived in your home?
results needed for further research
at least 5% of all home owners must be willing to take advantage of a real estate service firm when they sell their home

at least 5% of all respondents, owners and renters, must be willing to take advantage of a real estate service firm in the search for a new home

Results Needed for Further Research:
survey results
38.9% of all owners responded that they are willing to take advantage of a real estate service firm when they sell their home

61.1% of all respondents, owners and renters, stated that they are willing to take advantage of a real estate service firm when they search for a new home

Survey Results:
test of hypothesis for selling
Test of Hypothesis for Selling:
  • Ho: p < .05
  • Ha: p > .05
  • Level of Significance = .05
  • n = 54
  • pbar = .389
  • p = .05
  • Zcrit = 1.645
test of hypothesis for selling23
Test of Hypothesis for Selling:
  • Zobs = 11.43 11.43 > 1.645 Reject the null hypothesis
test of hypothesis for buying
Test of Hypothesis for Buying:
  • Ho: p < .05
  • Ha: p > .05
  • Level of Significance = .05
  • n = 54
  • pbar = .611
  • p = .05
  • Zcrit = 1.645
test of hypothesis for buying25
Test of Hypothesis for Buying:
  • Zobs = 18.92 18.92 > 1.645 Reject the null hypothesis
interpretation of results
Interpretation of Results:
  • The success of a real estate sales branch office is probable
  • Test of hypotheses prove that there is need for further research
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