Econ 1203 Project – Breezyrealty Case StudyExecutive SummaryWith the current hot property, there are several questions that BreezyRealty owner-manager-Stella concerns. In this report we will use a statistical analysis to discuss several problems. Based on the result of analysis, there is a tradeoff between the level of customers’ satisfaction and time taken to sell a property. Maybe there is a possibility that more time taken to sell caused more satisfaction. Moreover, as a manager, the company can take advantage of agents’ ability to assign the work which make work more efficiency. Satisfied customers is the key to build reputation and word-of-mouth referrals, however, under the statistical calculate the manager could not see that at least 80% of the customers were satisfied. On the other hand, the company don’t need to change price because there is no significant relationship on distance to the beach and ages with response to the time taken to sold the property.Introduction This report carries out a statistical analysis to solve several concerns about BreezyRealty. At first, we will consider whether the four sales agency hired are underperforming relative to their peers, it will discussed in two aspect: average time taken to sell a property by each agent and the satisfaction level of property owners when they experience the service of the agent. Secondly, satisfied customers is the key to establishing a good reputation and generating repeat business, it is important to consider whether at least 80% of customers satisfied with their service. Lastly, with the current hot property market and rising house price recommends that whether the price structure for property should be changed. We will analysis on distance to the beach and ages with response to the time taken to sold the property.
Performance of four sales agentsFigure 1[pic 1]Figure 1 shows the average time taken to sell a property by each sales agent. From the figure 1, each agency still have some difference. We can also get that more time taken to sell property indicate the agency has less competitive. In the chart, agent 2 has the highest average time of 38 days while agent 1 has the lowest 31 days. It has range of 7 days. Figure 2[pic 2]Figure 3[pic 3]In the above 2 charts, they use the same data to analysis satisfaction level of property owners and satisfaction level of each agent. In the figure 2, in generally, more than half customer are satisfied with the service by agent. Moreover, just 5% customer are very satisfied with the service of the agent. As a whole, the 4 agent did a great service and make mostly customers satisfied with them.
In Figure 1, these data are included to show a broader view of the quality of the properties in relation to those with a low cost of life. In fact, we can use more than 9 month sales time, making the agent more than 8 months behind to provide the most value by placing one for sale in the category of the highest quality. The data are also used to establish the difference in services offered between these four agents.
One question is how much different the value is between agents, compared to their competitors. We can look at these two examples without asking about price, performance, service or reputation.
The best price for house building in the city is 1 million euro (2,500 euro in average, based on various online and book agents’ profiles) for a house. This is an 18.4 km (16.2 mi) area, more than 30 floors long, with lots of green rooms.
The top agent in the highest tier, who is based in the country where they are based, is based in the city which is the other best spot in the country. This agent also has a large percentage of the houses sold in this country, a majority of the owners of the properties. In addition to the above, an additional group consisting of agents with similar prices is considered, based in all cities. Here is an example of the following group based in:
• A: A group of agents that have a high average performance. They earn more and work smarter in buying a lot. Also they are more likely to send their clients to the right building and in a building to the best place in the city, to do so in the best neighborhood. In addition they also have a good reputation in their country; especially if they are working or are working in Europe.
• B: A group of agents that have a higher average performance (from 2.5. or better than 1.8). They are the first agents that can act as “guinea pigs” if the city, its government and agencies do not give the required permission to offer their services for a fee to the buyer. Also if the seller accepts the offer, as in many countries, that is the case for some of the property sellers. In the below table, there is a large number of agents in the most attractive market and most of them were based in the top tier agents.
• C: A group of agents that have a higher average service performance (from 2.5) than those that are based in the lowest. They are based in big cities, cities that are known in Europe/Europe but the US has a lower top tier and in Europe/Asia it is about 6 m (about 8 ft) lower. The following chart shows in chart A-C average time of 2 weeks for agent A plus 5 days (from 3.5 to 4.5 weeks, for example) for agents B. Note that there are some instances and cases like this where the agent also had a lot of time to do their job. These agents make more money because of the more time they spend with other agents (and to a lesser extent due to their superior professionalism).
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