Econ 1203 Project - Breezyrealty Case Study

Executive Summary

With 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 agents

Figure 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.