We are providing development and analytical support for this new survey. As our readers know, we provide objective, accurate and timely reporting. We are very happy to be working with ACRE on this project. It will extend our collective ability to give the industry the tools it needs. Take a moment and sign up so that you can participate.
Have you or your membership grown a little tired of real estate pundits from outside our state dictating and/or prophesying how “Alabama” real estate will fare in the coming months and years without as much as talking with an Alabama real estate professional or stepping foot in our state?
ACRE, with oversight from our ACRE Leadership Council, comprised of a broad group of “Alabama” professionals engaged in different aspects of real estate, has created the “Alabama Real Estate Confidence Index (ARECI)” quarterly survey and is ready to roll it out!
As with any survey, it will only have its desired impact when the sampling size (survey participants) is large enough to cull sufficient responses (data) thus allowing for subsequent meaningful analysis. The initial survey will gauge the expectations from participants from the 4th quarter 2009 to the 1st quarter 2010.
As a leader of your respective real estate organization, I am asking on behalf of ACRE, that your organization partner with us by assisting with efficient distribution (via e-blast of survey link to your membership) and supporting our efforts by encouraging your members to participant. This quarterly report will gauge the “residential” and “commercial” market separately and will be available to you and your membership at no cost by simply visiting our website or a link that you create from your website.
ACRE’s need of assistance from you:
1) distribute this survey link upon receipt via e-blast from your organization to its membership (with your encouragement to participate)
2) for the long-term convenience of your membership, when you have time, perhaps create a permanent direct link on your association home page – here is link (after initial sign-up – subsequent quarterly survey can easily be taken in less than 1 minute)
FREQUENTLY ASKED QUESTIONS:
• How will ACRE use the information gathered & how can the business community use the information gathered?
The Alabama Real Estate Confidence Index (ARECI) will measure real estate expectations (residential & commercial gauged separately) for the upcoming quarter gathered from a broad group of real estate professionals from every area of the state. With six key indicators and a composite index, the survey will represent the pulse of the state’s real estate market.
The index will represent another invaluable tool for our industry to use as a general indicator of local/statewide outlook & trends; decision making & short-term planning; for comparing to their own projections; and simply for sharing with clients and customers.
• Why does ACRE think this is needed?
Although there are national indexes, none specifically address the Alabama real estate market. While we certainly understand that our market does not operate in a vacuum, we still firmly believe that our statewide practitioners have a clearer understanding of their “local” markets and we hope that our index can provide a conduit for their market knowledge in the aggregate to be effectively and usefully delivered to our industry and to the consumers we serve on a daily basis.
• Who can participate and how?
The electronic survey will poll professionals in all real estate related fields (not just sales). The panelist demographic section is very important and need only be completed once when you first log-in to participate. It will include two broad area(s) to select from (either/or): commercial or residential. The panelist will also provide where he/she conducts the majority of its business so that we can also provide results by geographic area. In addition to its distribution by supporting real estate organizations, a link to the survey will always be available on ACRE’s homepage, www.acre.cba.ua.edu.
• When will the first report come out?
The plan/goal is to release the first report representing market expectations for the 1st quarter of 2010 sometime in early January 2010. However, this goal hinges on receiving a big enough sampling size (ie the importance of your association’s support). At the end of process, if we feel that we need an increased sample size (that broader public awareness would may provide) – we will include these survey responses with our recent “beta” testing and the first report will arrive the following quarter (2nd Qtr 2010). Speaking of our recent “beta” test, the participant commentary was very impressive and actually is already providing for useful market analysis at the Center.
With the support of each real estate association/organization, this index can have a truly significant and positive impact on our statewide real estate industry for years to come.
Thank you in advance for your support!
With the utmost appreciation,
Grayson M. Glaze, JD, CPM, CCIM
Alabama Center for Real Estate
The University of Alabama
127 Bidgood Hall
Tuscaloosa, AL 35487-0221