In a market as dynamic as real estate, doing your job well might not be enough to ensure the growth and security of your agency. It’s also relevant to stay aware of what’s going on in your surroundings.
See three good reasons to keep an eye out for your competitors’ moves, not only from the standpoint of potential changes to your business strategy, but also to understand how to set productivity goals.
To go after new properties available on the market
A new property was put for sale by the owner, but shortly after an estate agent who works in a competitor agency secured the mandate to sell it. Yes, this means you came in second, but it doesn’t have to be a lost deal.
In order to face the competition in these situations, you will have to make sure you also get this mandate and try to sell the property first – and this is the first reason why staying alert about your competitors’ portfolios is so relevant.
To get to know when they are commercialising the same properties as you
One of the biggest risks of non-exclusive agreements is finding yourself sharing a property in your portfolio with competitor estate agents. When it happens, it’s important to ensure that you are working on equal terms.
By monitoring your competitors, you will be able to know when they add new properties to their portfolio and check the prices they are selling or renting them for, in order to avoid commercial advantages such as reduced prices.
To see how their activity affects your business
Imagine that you start to feel that there are less and less properties available for you to work with because other estate agents are quickly getting to what’s new on the market and sealing exclusive deals with the sellers.
Or, maybe even worse, imagine that areas that were a steady source of income for your company are now being taken over by other estate agents, causing a considerable decrease in revenues. You don’t want to be caught off guard like that, right?
Monitoring your competition is also helpful to avoid getting surprised by a swift loss of market: if you are aware of how they are expanding through the city or the neighbourhood, you can rethink your business strategy and counteract before the damage is done.
CASAFARI Alerts: easily monitor your competitors
CASAFARI Alerts is a powerful tool designed to keep real estate professionals informed and ahead of the curve. With CASAFARI’s cutting-edge technology, real estate agents and investors can effortlessly get notified about market changes and property updates in real time.
CASAFARI Alerts equips you with the competitive advantage needed to make informed decisions, seize opportunities, and stay at the forefront of an ever-evolving landscape.
All of it with a level of personalisation that ensures that you receive only the most relevant updates, saving you time and effort while providing the insight and agility needed to excel in a fast-paced industry.
Don’t wait another day: subscribe to CASAFARI and start working with the most updated information about the property market to support your business decisions.