In the fast-paced world of real estate, staying ahead of the game is non-negotiable. Imagine having the power to effortlessly monitor your competitors, gaining unparalleled insights into their strategies and actions. With CASAFARI, this is not just a dream—it’s your reality.
Monitoring your competitors is crucial to benchmarking your performance, refining your strategies, and seizing opportunities for growth. By analysing their every move, you can identify opportunities for improvement and refine your own business practices.
In this competitive and ever-evolving industry, keeping a constant watch over your competitors can be overwhelming and time-consuming. CASAFARI helps you with this task by automating the tracking of critical information, ensuring you stay informed without sacrificing your productivity. Let’s see how.
Why monitoring your competition should be on your to-do list
- Spot Market Opportunities
Observing competitors helps reveal gaps in the market, such as underrepresented property types, emerging neighborhoods, or changing buyer preferences. This insight enables agents to target untapped areas for growth.
- Refine Pricing Strategies
Competitors’ listings provide valuable data on how they price similar properties. Tracking their pricing strategies helps you ensure your properties are competitively priced, improving sales potential and avoiding over or underpricing.
- Adapt Marketing Tactics
Analyzing how competitors promote their listings—whether through social media, online ads, or offline channels—allows you to enhance your own marketing efforts. You can adopt successful techniques or find new ways to differentiate your approach.
- Understand Service Offerings
Monitoring other agents’ service offerings (e.g., virtual tours, specialized consultations) allows you to benchmark your services and improve client experiences. It also helps you see how your unique offerings stand out or where you need to catch up.
- Benchmark Performance
Knowing how competitors perform in terms of sales volume and speed helps you gauge your success. This can motivate you to refine your processes and increase efficiency.
3 CASAFARI products to monitor your competitors
CASAFARI Alerts and tracking of portfolio changes
With Alerts, you’re able to get notified every time a competitor agency adds a new property to their portfolio or a change occurs in a property they already had. This vigilance helps you identify potential opportunities or threats on the market you operate, giving you a competitive edge and time to readjust business strategies.
Be the first to act: stay Ahead of the competition with CASAFARI Alerts
It is also possible to track your own portfolio, getting notified when one of your properties is listed by another agent and making sure no exclusivity clauses are breached.
Property Sourcing and view of your competitor’s properties
Want to see all properties in a competitor’s agency portfolio? Our Property Sourcing tool gives you the option to filter and see what’s listed by an estate agent in a certain area.
This is helpful for you to understand how your market share compares to the one of your competitors, as well as identify in which specific markets you might be losing ground.
And, by accessing the Property Page of the assets they have on their portfolio, you can even find where they are promoting these assets and how, providing insights on their commercial strategy.
Another interesting possibility is accessing the Property Pages of the properties you’re trying to sell. In each of them you can find a list of comparable properties, with similar characteristics and location to yours. This list helps you understand what is the competition on the market and how are the competitor properties being promoted.
The Property Search Solution For Real Estate Professionals To Unlock Opportunities
Favourites: adjusting your selling strategy according to the competition
Another possibility inside CASAFARI is to create folders in your Favourites area to monitor your competitors. It will track if properties that compete against yours are increasing or decreasing in prices, allowing you to consider if you need to adjust your strategy so you don’t lose clients or sales to them.
Now talking about monitoring your own properties when working without an exclusivity agreement, you can use your Favourites folder to be aware of decreases in the asking price of properties in your portfolio, made by other listing agencies. This way, you can approach the owner and make sure you are able to sell the property for the same price, ensuring a fair competition.
How to benefit from CASAFARI’s Favourites folders
Use technology in your favour to monitor your competitors and stay ahead of the game: subscribe to CASAFARI to boost your business strategy!
