From The Trenches: Raj Qsar of The Boutique Real Estate Group

Every month FreeAgent by AdWerx brings you advice from top-performing agents and real estate technology experts in “From the Trenches.” Here atAdWerx, we believe that to be the best, you have to learn from the best. While doing your own research can be helpful, getting tips straight-from-the source can offer new perspectives and give you a taste of each real estate maven’s personality.

This month in From the Trenches, we’ll hear from Raj Qsar, Principal and Owner ofThe Boutique Real Estate Group, in California. His company serves as one of the most dominant real estate teams in the Orange County real estate market, serving north, central, south and coastal Orange County. It’s easy to see why they come out on top. While agents with The Boutique Real Estate Group excel with their personal branding, the marketing of each listing the firm represents is impeccable. According to theboutiquere.com, “Every real estate listing is assigned a best-in-class sales & marketing campaign, and receives the support of industry leading marketing, advertising, social media, video, staging & interior design, graphics & design, all of whom work together to develop a strategic and tactical marketing plan customized to each client and each property.”

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Raj is no stranger to the value of technology and social media. Aside from employing modern marketing in every aspect of his business, he has also spoken professionally on using these strategies in real estate. Raj was recently named one of the Top 100 Most Influential Real Estate Leaders for 2013 by Inman News. This annual list recognizes those who embody leadership, ingenuity, strength, conviction, power, persistence, perseverance and progress. Raj is also a contributor at Inman News covering the topics of creative video for real estate, social media and networking. The Boutique Real Estate Group was just selected in 2013 as a Next Generation Brokerage by Better Homes & Garden Real Estate and 1000 Watt Consulting.  These NextGen brokerage projects represent a new breed of real estate brokerages growing across the country. These firms empower agents and clients by providing the most up-to-date and flexible technology. They build meaningful brands, and attract and engage new customers.

1. How did you get your start as a real estate agent?

It’s a funny story. When I initially began selling real estate, I just wanted to sell one to two homes a year and keep my real estate career relatively small. After having my license for just three days, I was absolutely hooked. I was in escrow with a client and it was just the beginning. The social media and technology aspects of my business came later, but I’ve been addicted to the real estate industry since day one.

2. You’re very active on Pinterest. What advice can you give to agents about using Pinterest for real estate?

Pinterest is great, but I advise people to not be a “real estate agent” on Pinterest. Showcase your community and lifestyle.

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Raj keeps a personal Pinterest page focused on his personal brand aside from the Pinterest page of The Boutique Real Estate Group. Both feature a variety of content with some overlap. Topics they post about include aspects of the Orange County lifestyle, including homes, pools, luxury items, famous residents, beaches, cars and style. The company page also features a board dedicated to their video tours.

 

3. In a hot real estate market like this, it’s tempting to spend too much time working in the business instead of on building the business. How much time should an agent spend on marketing themselves versus marketing listings?

The fact is, busy agents need help.  None of us can do this alone, and you shouldn’t try to do it all on your own.  At The Boutique Real Estate Group, we believe the team approach is best, because there are just too many hats to wear right now for an agent. You really have to dedicate time to both. Remember to “walk before you can run,” and don’t get too ahead of yourself. Build your team block by block. Building and nurturing a quality team takes time! And always hire the best.

If you are an agent, find a team that you respect and admire. Demonstrate your skills, and ask to join.  If you are lucky enough to become a part of the team, work hard and contribute. Soak it all up and enjoy the ride!

4. As an agent, you value social media and technology. What are some specific examples of ways they have helped you communicate with clients and increase productivity?

Social is just an amplifier. If you are a rockstar agent, social will just amplify all of the great things you are doing. You have to be doing well in your business for social media to add value to your brand. Also, my tagline is, “If you are not in my newsfeed, you do not exist!” It’s not enough to just have a social presence. You have to be engaged with users and clients if you want to get noticed.

Twitter really is a cocktail party. It is a great tool for agents, but remember, you are in and out in 140 characters.  Make every post short and simple, and talk to people!  If you talk to people they will talk back!

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5. What trends are you seeing in real estate right now in terms of technology and social media? 

We are a 99.9 percent paperless office.  All of our agents sign a contract that they will have an iPhone and iPad at the start of employment.  We also have a technology standard – we call it the #tbreg tech standard  – which all agents must master.  This is the new normal.

Many agents struggle to adopt the technology we have now, and I’m not sure why they put this on the back burner.  For our team, it’s all we talk about.  We ask ourselves, “How can we create a REAL estate experience that our clients will enjoy?”  We want the entire experience to be as easy and painless as possible. Today, utilizing technology is an integral part of that experience with clients.

If you are a great agent, you will get referrals.  It’s that easy.  Put your clients first in all you do and the technology and referrals will follow.

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One way The Boutique Real Estate Group goes the extra mile for their clients is by producing creative listing videos. Watch the story unfold in this video for 9741 Janice Circle, with gorgeous shots of the home in an entertaining and beautiful presentation. The Boutique Real Estate Group is at the forefront of video for real estate, and one of their videos was awarded a spot in the Top 20 Real Estate Videos in the USA in 2013. Watch the video here.

 

6. Is there anything else you’d like to share with FreeAgent readers?

I have truly made some wonderful friends over the years via social. It has been a wonderful ride and has been a true blessing. Turning online relationships into meaningful real life friendships has been one of the greatest joys for me. There are so many great people in this world and in our industry who are trying to raise the bar in all we do. If you take the time to talk to them, they will talk back.

Find Raj Qsar on FacebookTwitter and LinkedIn, and be on the lookout for the opening of The Boutique Real Estate Group’s second luxury office in Corona Del Mar, California in January 2014.

As an agent, do you ask yourself “How can I create a REAL estate experience that my clients will enjoy?” What do you think are the most important parts of this experience? Let us know in the comments below!

The Boutique Real Estate Group Joins RESAAS – The Real Estate Social Network ™

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Vancouver, British Columbia CANADA, Nov 26, 2013 (Filing Services Canada via COMTEX) — RESAAS Services Inc. (RSS – CNQ), The Real Estate Social Network(tm), is excited to announce that The Boutique Real Estate Group (http://www.theboutiquere.com/) will be joining the RESAAS (http://www.resaas.com/)platform.

Why are we so excited? Simply put, The Boutique Real Estate Group is at the forefront of the real estate industry. Just look at their depth of engagement and interaction across all social platforms. Every listing of theirs is assigned a world-class sales & marketing campaign team, receiving the support of industry leaders in social media, internet marketing and print advertisement. For example, take a look at the listing video (http://rebla.st/9t6bf3a) for 49 Golden Eagle, Irvine, California in the exclusive triple-gated neighbourhood of Shady Canyon. The Boutique’s marketing campaigns include an aggressive mix of print advertisement & Boutique branding, social media integration, search engine optimization, HDR Photography (see below), 360? HD V-Tours, full responsive custom built property websites and full-colour custom property brochures, as well as top placement of the world’s largest search engines and real estate websites.

Raj Qsar, Owner of The Boutique Real Estate Group, has a dream and is on a mission. He has used his more than 18 years of sales, marketing and leadership experience to turn the brokerage into one of the most dominant teams in the Orange County Real Estate market, bringing the key components of his brokerage entirely “in-house” – including back-end SEO and technology, graphics and design, staging and interior design, as well as social media, listing and transaction concierges for each of their agents.

What’s more, Raj has traveled the country to educate and consult other brokerages, brokers and real estate professionals on the value of technology and social media as a local and national speaker. In 2013 he was named as one of the Top 100 Most Influential Real Estate Leaders by Inman News. Also in 2013, The Boutique Real Estate Group was named as a Next Generation Brokerage by Better Homes & Gardens and 1000 Watt Consulting.(http://nextgenbrokerage.com/) Finally, The Boutique Real Estate Group won an award for the Top 20 Real Estate Videos in the U.S.A.

Now he’s joined RESAAS – The Real Estate Social Network(tm), along with his entire team at The Boutique Real Estate Group.

“The real estate industry needs to think outside of the box and we need to stop thinking like real estate agents,” said Raj Qsar, “which is why I am always on the search for new ways to improve my team’s ability to sustain their elite service through technology and social media. RESAAS is an exciting opportunity for us to do just that. It will significantly improve internal communication, boost each agent’s personal marketability and further increase the exposure for our listings.”

Each agent at The Boutique Real Estate Group will receive his or her own corporate branded agent page on RESAAS, and will be connected together into an exclusive group to communicate and stay connected with every other member of their team. In addition, The Boutique Real Estate Group will have its own corporate branded page in order to easily broadcast relevant information and market their company’s content.

To view the image “Raj-Listing-Photo.jpg” please click on the following link:

http://corporate.resaas.com/wp-content/uploads/2013/11/Raj-Listing-Photo.jpg

“We are very excited to welcome The Boutique Real Estate Group to RESAAS,” said Nadia Suttle, Account Executive at RESAAS. “They are a prime example of how to lead the real estate industry by providing modern, effective and quality service for their clients and their listings. With them now onboard, it lends massive credence to RESAAS – The Real Estate Social Network(tm) as a powerful tool for real estate professionals everywhere.”

About RESAAS SERVICES INC.

RESAAS – The Real Estate Social Network(tm), is designed specifically for the real estate professional to connect and communicate in real-time. Known as real estate broadcasts, RESAAS’ powerful reblasts(r) engine automatically generates all of your real estate workflow into valuable social content that is instantly pushed out to the RESAAS platform and other social networks. Visit www.resaas.com.

On Behalf of RESAAS

Danielle Sissons

VP Communications

RESAAS Services Inc.

Telephone: (604)558-2929; Email: danielle.sissons@resaas.com

Investor Relations

RESAAS Services Inc.

Telephone: (705) 888-2756; Email: scott.young@resaas.com

The CNSX has not reviewed, nor approved or disapproved the content of this press release.

Forward-Looking Information:

This press release and the company’s website referenced herein may include forward-looking information within the meaning of Canadian securities legislation, concerning the company’s technology platform. Forward-looking information is based on certain key expectations and assumptions made by RESAAS’ management, including future plans for the design and development of the company’s technology platform. Although RESAAS believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because RESAAS can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. RESAAS disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

To view this press release as a PDF, please click on the following link:

http://www.usetdas.com/pr/resaas11262013.pdf

Source: RESAAS Services Inc. (cnsx:RSS) http://www.resaas.com

Maximum News Dissemination by FSCwire. http://www.fscwire.com

 


		

32 Home Buying Tips from Some of the World’s Most Popular Realtors

CaliLove

Via Scott Riley @homebuyernation www.HomeBuyerNation.com

After the success of the last expert roundup, I knew another one was in order. This time I asked some of the world’s most popular Realtors from around the country to share one uncommon tip for a first-time home buyer.

They all delivered with some priceless insights and wisdom. We even had 3 agents from the hit TV show Million Dollar Listing weigh in with tips for the HomeBuyer Nation!

I learned a ton and I think you will too. After you’re done, I’d love to hear which one you thought was the most helpful, in the comments.

For full article, follow this link:  http://bit.ly/I1bTBB

Top Resorts in Southern California | Raj Qsar | The Boutique Real Estate Group

Recently, Conde Nast magazine released their annual ‘Top Resorts In Southern California’ list.  Four of the resorts in the top ten are right here in Orange County, believe it or not.

Just making it in to the top ten, the St. Regis Monarch Beach received the #9 spot on Conde Nast Traveler’s list.  With numerous awards, from Forbes five-star, AAA Diamond, Travel & Leisure Top Spas, it is no wonder that this resort has withstood the test of time.  Probably best known for it’s challenging, award-winning Robert Trent Jones golf course, the resort has been a staple in Orange County for decades.  Rumor has it that the sand in the bunkers has crushed abalone to help give it that ‘sparkle’ that no other resort around has.  Designed with impeccable detail, the St. Regis has a Mediterranean flair, complete with grand fountains and courtyards.  The entire resort and golf course have spectacular views of the gorgeous Orange County coastline.  Visit http://bit.ly/Hd6Lda to reserve.

The Ritz-Carlton, Laguna Niguel in Dana Point is #7 on the list.  Located atop a 150-foot bluff, the Ritz-Carlton encompasses luxury.  It evokes a kind of romanticism that feels novel-worthy.  The resort’s impeccable design, coupled with its gold standard of service, have given it an impressive track record of success.  World-class surf just below, amazing restaurants and some of the best weather anywhere, and views up and down the coastline of Orange County make you realize just how special the resort is. http://bit.ly/Hd6IxZ

Almost topping the prestigious Conde Nast list is The Montage in Laguna Beach, making it to the #2 spot. Perched on a cliff in the arts and crafts city of Laguna Beach, the Montage lends a sense of serenity and artistry that is, in my opinion, unmatched.  Laguna Beach began as an artist’s colony in the 1800s and continues its tradition of creativity through art festivals and galleries, a world-renowned outdoor theater and spectacular restaurants.  No hotel could fit the mold of this town more perfectly than The Montage.  From the bungalows, to the chic pool, to the 5-star dining, the Montage lends an air of sophistication that leaves its guests feeling elite and its onlookers feeling mystified.  To make reservations, visit http://monta.ge/H8rizc

I have saved the best for last…The Resort At Pelican Hill embodies everything that is Orange County: extraordinary, awe-inspiring beauty, exclusivity, and elegance without being ‘stuffy.’  The list of awards received is too numerous to detail here; Pelican Hill has not only received the #1 resort in Southern California but also the #1 resort in the entire US.  Having been built in a Palladian style, the resort appears as if it is nestled in the rolling hills of Northern Italy.  Pelican Hill is located in the prestigious and exclusive Newport Coast, home to some of the world’s most spectacular views and exquisite homes.  With a 36-hole Fazio designed championship golf course, award winning dining, enviable views and a location unmatched by any other resort in Orange County, it is no wonder that Pelican Hill has received the honor of the number one spot.  To learn more about this exclusive resort, visit http://bit.ly/18GZFax

I am not surprised that Orange County is home to some of the most beautiful resorts in the world; after all, it has earned the nickname “The Golden Riviera.”  Today, I may just take a moment to enjoy this paradise I am so fortunate to call home.  Drive down the coast, stop by one of these amazing resorts for a spa treatment, a round of golf with a friend, or a bite to eat.  Or maybe I’ll just drive past and be immersed in a sense of tranquility and beauty that is incomparable – a tranquility and beauty that is Orange County.

40th Annual Corona Del Mar Home Tour 2013 | The Boutique Real Estate Group | Beth Sparks

 

Corona Del Mar Beach

BREAKFAST AND GUIDE DISTRIBUTION:

LE PAIN QUOTIDIEN  8am-10am

LUNCHEON BY PASCAL, AND BOUTIQUE AT SHERMAN LIBRARY & GARDENS

Luncheon from 11am-2pm; boutique from 11am-3pm

HOME TOUR 10am-4pm

AFTERNOON RECEPTION AT BLISS HOME &DESIGN 4PM-6PM

Corona del Mar or CdM (Spanish for “Crown of the Sea”) is a town in the affluent city of Newport Beach, California.  Nestled on the foot of the San Joaquin Hills and fronting the Pacific Ocean, Corona del Mar ranges along a bluff at the south end of Newport Beach and includes some of Orange County’s most prestigious residential areas.  Also known for its fine beaches, tide pools, cliffside views, Corona Del Mar features world renowned restaurants, quaint village shopping and unique business services.

A $75 ticket includes a light breakfast at Le Pain Quotidien, lunch by Pascal of Cafe Jardin at Sherman Gardens, fabulous afternoon reception at Bliss Home & Design, and six beautiful homes to tour.

Home #1:  800 Bison Road, Newport Beach

Home #2:  1999 Port Nelson Place, Newport Beach

Home #3:  1942 Port Carney Place, Newport Beach

Home #4:  604 Acacia Ave, Corona Del Mar

Home #5:  203 Heliotrope, Corona Del Mar

Home #6:  109 Bayside Place, Corona Del Mar

The following are sponsors of the event:

  • Orange Coast OBGYN

  • Premier Dermatology Associates

For more information on any of the featured homes, please contact Beth Sparks at (714) 348-6276 or www.TheBoutiqueRE.com/Beth-Sparks


 

 

 

 

2013 Next Generation Brokerage by Better Homes & Garden Real Estate and 1000 Watt Consulting

We are honored to be selected as the 2013 Next Generation Brokerage by Better Homes & Garden Real Estate and 1000 Watt Consulting.  The Boutique Real Estate Group is a new breed of real estate brokerage.  We are attracting and engaging new customers. Empowering our agents and clients with the latest, most flexible technology and building meaningful brand.

 

Team-2013

The story of the real estate agent turned broker is a familiar one. A natural progression in the industry.

Raj Qsar is that broker. After working for 12 years in the business as an agent, in 2013 he opened The Boutique Real Estate Group in Orange County, Calif.

His vision? Build a brokerage that is outstanding at visual marketing.

Design is the rule, not the exception

The first rule of real estate has always been location. But Raj and his team are proving that today it’s just as much about design. Design in web and print marketing, video, and the homes themselves.

This is why Raj’s company team page contains nearly as many professional designers and creative roles as it does agents.

Bypassing a typical brokerage organizational chart, Raj’s team includes a creative director, interior designer and cinematographer. From day one, Raj has made quality design a key part of Boutique Real Estate’s unique value proposition.

“We’re a sales and marketing team, but we happen to focus on real estate,” Raj said.

Boutique’s approach to design in digital marketing really shines in their single-property websitesHDR photographyHD virtual tours and high-definition videos.

Every home is staged and professionally photographed for inclusion in custom designed print and digital marketing materials. They shoot a video of nearly every listing, and own all of the necessary equipment from cameras to lenses to lighting and sound.

“We’re a sales and marketing team, but we happen to focus on real estate.”

This treatment is engrained in the Boutique Real Estate customer experience. Raj and his team are uncompromising on this. From the full-time stager they’ve hired to the in-house videographer and graphic designer, clearly this is where the brokerage breaks the mold.

Video is the rising star

In 2010, Raj and his team started experimenting with video, realizing quickly that it paid off in terms of return on investment. “People were showing up at our open houses knowing it was us because of the videos and photography they’d seen in marketing materials,” Raj said.

“I figured out quickly, though, that hiring third-party vendors was a losing investment,” he said. That’s why he purchased all of the necessary audio and visual equipment and brought on a professional videographer to focus solely on videos.

While plenty of brokerage companies and agent teams create video in their marketing, Boutique Real Estate’s take is different. They use high production value without going over the top, subtle humor, contemporary music and an imaginative and fun approach to the typical home tour.

Check out a few of their recent property videos here, and you’ll see it feels more like you’re getting a taste of the lifestyle associated with homes than just a straight walkthrough on camera. And that’s the goal.

Natural selection

In keeping with a focus on high-quality marketing and building a unique brand around that value, Raj’s approach to recruiting is to be highly selective. “We say no to more people wanting to join us than we say yes to,” he said.

Part of this is because the whole notion behind the “boutique” brokerage is working with a highly focused small team. Also, the allure is customized marketing, which becomes challenging at a larger scale.

In general, Raj looks for sales associates who are passionate, relatable and people-oriented, and who are active participants in their community.

What lies ahead

When thinking about the future, Raj and his team remain open-minded. He likes to make sure they’re always thinking ahead to what consumers will want and need five years from now – how they’ll want to do business, how they’ll want to view properties and how agents will work best.

One goal is to open Boutique offices in select California markets, including Corona Del Mar, Napa, Palm Springs and North San Diego.

Of course, no one can predict the future, but Boutique Real Estate will continue to keep an eye on design trends and lead its real estate marketing in these same trajectories.

See more at: http://nextgenbrokerage.com/company/the-boutique-real-estate-group/#sthash.z57bEFuL.dpuf

 

What’s In A Name

Via TruliaPro
Average Price Per Square Foot Based on Address Suffixes
Who knew address suffix could make such a difference? Each square foot on a “street” is $31 dollars less then a square foot on a “boulevard.  What do you think?

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Getting Business Done. Everywhere.

Customer Story: Jeremy Lehman

Jeremy-Lehman
You always hear about how technology can solve this problem or that problem, or help you do something better or more efficiently. While it might seem like there are endless possibilities – sometimes knowing how to leverage technology or “use it” can be more of a challenge than finding the right solutions.

Meet Jeremy Lehman – he really “gets it.”

Jeremy is a technology enthusiast turned real estate agent in Orange County, California who is always on the go. I gave Jeremy a call the other day as he was in-between a quick stop at the Apple store and picking up his kids from school. “I would say that I am on my mobile devices ninety plus percent of the time,” Jeremy told me.

 

Having his phone on him 15 hours a day  is not uncommon for Jeremy. “I am rarely on a computer and it’s not that my mobile devices have completely replaced my computer because it is necessary, but it’s because I am on the go so much it makes sense to use my mobile devices to get things done rather than waiting until I get back home or wherever,” Jeremy said, adding with a chuckle “I spend almost no time in the office, almost to the dismay of my team.”

The Boutique Real Estate Group

Jeremy is a Realtor and CTO of The Boutique Real Estate Group in Orange County, California.

However, just because Jeremy’s not in the office doesn’t mean he isn’t working, in fact he sees it as just the opposite. “I don’t believe that someone who’s always in the office is doing incredibly well, because the reality is business gets done everywhere but the office these days,” Jeremy said. He still prefers doing business “belly to belly” with his clients because after all real estate is a service-based business. Being mobile allows him to be more efficient with his time and proactive with his clients. “If I am driving my car and I get a call from my assistant, client or another agent who needs a specific document for a deal, I need to be able to access any document from the road at any given time,” Jeremy said. He added that it doesn’t matter if he is on vacation or on the golf course – he never has to tell a client he is too busy doing personal things to get back to them. “I don’t think those sort of answers are acceptable these days,” Jeremy said, adding it’s okay if he’s using his time for personal reasons because he can still get the job done and is not delaying transactions.

Boutique-Property

I asked Jeremy what sort of mobile tools he uses while on the go and he said he uses an iPhone, iPad and a stable of core apps that included Cartavi and DocuSign. He also said his group, The Boutique Real Estate Group, uses mobile forms that are tablet compatible and that he uses DocuSign Ink as a signing solution for his iPhone and PDF Expert for his iPad. He said PDF Expert allows him to write on the contract through his iPad to add additional terminology. He also uses MLS Touch, which allows him to access MLS listing at all times. Jeremy’s suite of mobile solutions is pretty impressive and allows him to do everything on the go, which is what I meant when I said “he really gets it!”

Jeremy does not just use technology to stay on the road though; he also uses it to get more business. He maintains a significant web presence and uses social media to market his offerings. “I think it is important that we have profiles on any place that a client is going, so if clients are going to Zillow then you need a presence on Zillow, if they are going to Realtor.com – then you need a presence there.”

Jeremy said most of the people in his group also have personal websites and are very searchable. His personal website is http://about.me/jeremylehman and came up immediately when I searched his name on Google.

Boutique-Property

Jeremy also said he is doing mostly listings now even though his business used to be more 50/50 buyers and sellers. “We are in an extreme sellers market,” Jeremy said. He also added that shifting business models’ is difficult but he has used the internet to establish himself and develop a steady stream of listings. “I guess it is marketing the whole negotiating dynamic, using technology, but also offering a high personal level of customer service,” Jeremy said. I asked Jeremy how he got into real estate and he said was actually working with a title company but a Senate bill would have gotten rid of the services that he offered so in 2007 he decided to get his real estate license and become an agent, and as he puts it, “I always sort of ‘got’ real estate.”

Jeremy is also very involved in leadership and serves on the Board of Directors at the Pacific West Association of Realtors and the California Association of Realtors. He is also a technology trainer and mentor, and occasionally does real estate technology workshops for Apple. He will tell you though, for as savvy as he is with technology, “I’m not nearly as technical as people think I am. I just sort of understand technology and how to use it.” Even though Jeremy has figured out how to use leverage technology to his advantage, he still prides himself on providing “likable” customer service, fast response times and doing a very professional job.

If you are thinking about listing a property in Orange County, just look-up ‘Jeremy Lehman’ and you’ll find him at his Personal WebsiteFacebookTwitterLinkedinTrulia,YourSoCalAgentInstagram… the list goes on and on. He is not hard to find, trust me.

Half of All Homes Are Being Purchased With Cash

 

52 Ovation, Irvine, Ca 92620

52 Ovation, Irvine, Ca 92620

 

Story Via WSJ Real Estate News

August 15th, 2013

More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists at Goldman Sachs Group.

The analysis estimates that around 20% of all homes sold before the housing crash were “all-cash” sales (or around 30% of sales by dollar volume). But over the past seven years, the all-cash share of sales has more than doubled, increasing by more than 30 percentage points, according to economists Hui Shan, Marty Young and Charlie Himmelberg.

The Goldman study analyzed home sales figures from the Census Bureau and the National Association of Realtors and mortgage-origination data from the Mortgage Bankers Association and Lender Processing Services.

The surprisingly large cash-share of purchases helps to explain why home sales have jumped over the past two years despite more muted increases in broad measures of new mortgage activity, such as the MBA’s mortgage application index.

There’s no exact way to know who is responsible for all of these cash purchases, though they are likely to include some combination of investors, foreign buyers, and wealthy homeowners that don’t want to go through the hassle of getting a mortgage before closing on a sale. Mortgage lending standards have sharply tightened up since the housing bubble, with banks scrutinizing borrowers’ tax returns and bank statements to verify their incomes and the source of their down payment.

The Goldman analysis also estimates that around 44 cents of every $1 of homes sold currently is being financed, compared to 67 cents before the crisis.

Purchase-mortgage origination volumes have fallen from around $1.5 trillion in 2005, when the housing market peaked, to around $500 billion in each of the last two years.

While declines in the volume of homes being sold accounts for some of the decline, the Goldman economists estimate that around 40% of the decline is due to the drop-off in the amount of financing per home.

The Goldman analysis estimates that purchase-loan volumes will rise to around $750 billion next year and to $1.1 trillion by 2016.