Real Estate Competitor Analysis • Do I Need It, and How To Get One?
The Real Estate industry in Canada and US is flourishing, no question about it. As new Real Estate Agents emerge every day, it is important to understand that it is your responsibility to keep an eye on your fellow competitors. At the least, you need to know what they are doing right, what wrong, and how can you out-play them.
Today, property owners, both residential and commercial, don’t go about finding a Realtor by asking family and friends as they used to. They simply pull-up their mobile devices or laptops, type few search words/phrases and almost exclusively consider only the top 3-5 results. This is especially true when it comes to searching for Realtors within a particular area, which we call a local market.
We all agree that the Real Estate competition out there is fierce (cutthroat, as some call it). Strategies that worked yesterday will not work tomorrow, let alone the next decade. Marketing is one of the most effective ways that Real Estate entrepreneurs must use to grow their businesses. A big part of Marketing is conducting almost an ongoing Real Estate competitor analysis so you understand how your do your competitors get to your customers before you do.
To stay ahead in this age of ruthless competition, it is important to learn about your contenders’ successful strategies through competitive research and analysis.
So, let’s find out, how such analysis can help your Real Estate business prosper against your competitors.
Firstly, a competitive analysis lets you know who exactly your competitors are and their exact digital strategy. Knowing their strategy in detail will help you effectively plan your strategy and draw in more customers.
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Secondly, a competitive analysis reveals not only their strengths but weaknesses too. Determining these attributes will benefit you enormously. Knowing their strengths will encourage you to work smarter, and by knowing their weaknesses, you will know exactly what to do to dominate your market.
Knowing your market’s competitiveness not only affects your market plan but influences every decision you make for your business. Smart business planning always includes competitive analysis because this is considered to be the most effective and valuable way to meet success.
COMPLEMENTARY REAL ESTATE COMPETITOR ANALYSIS REPORT
To see how you stack up against your competitors, and which keywords are successfully driving customers to your competitors through Local SEO, fill out the form below and receive your own Real Estate Competitor Analysis Report.