“How did
he/she know that?” If you have ever missed out on a property or real estate
opportunity because you simply didn’t know about it soon enough, you know the
significance of Market Research.
The right
information transforms in to the right opportunity. You could be a real estate
agent that doesn’t know you just outsold your farm area’s top producer last
month. You could be an investor who didn’t know that a property you turned down
had additional zoning options. You could have lost out on a bid because you
didn’t include enough information.
If you work
for a company which provides “market research”, it means that others in the same office also gain
access to the same information. However, what helps your company may not always
help YOU.
You need
facts and data to help toward your next sale, transaction, or goal. One
important fact is that there are only so many hours in the day. Not enough to
be able to gather and promote the important elements which could be the key
toward your next success.
There is a
big difference between “shared research” and your very own “market research”.
That difference impacts your bottom line.
For example,
research is crucial for a law firm of any size. There is a lot more than the
facts relating to the case an attorney needs to win. They need to find and pull
specific information from other cases which went in the direction he/she hopes
to accomplish. They need to find and pull facts and theories which support the
argument they need to present. Additional research may include digging up facts
about the other party and elements of the legal action which could be used to
cast a negative light on the opposition.
Chances are
the opposing side anticipates the “common” data and will be ready to defend and
argue.
Think about
this for real estate. If your offer, your comps, or your proposal contains the
same data as your competitors, your presentation is much less likely to stand
out.
In every
instance, if you can bring unique and helpful market research to the table, you
stand to gain because of it. Just like with law firms, you don’t have to do it
all yourself.
FIRST IN performs market research, whether on long term retainer or for a short-term
project, to make you or your business be the shining star!
One agent in
a small community, which earlier had us sort their database, needed more single
family homes for buyers. Market research uncovered a multi-family listing which
sat untouched for six months but was also zoned for single-family.
An email to
only to his local investors produced a buyer. That buyer quickly tore down and
built an upscale single family home, from which the sale brought the investor
roughly $100,000 profit eight months later. That agent gained two commissions
within one year from the same parcel from this opportunity which would not have
happened without our services.
Another
agent was able to point out how a competitor failing to update their website
cost a seller thousands of dollars and what she does to prevent those mistakes
for her client.
Chances are
you don’t have time to explore ways you can beat your competitors, but knowing
those “ways” would increase your income by thousands of dollars. Hiring FIRSTIN to monitor your competition while creating advantages for you or your
company allows you to do just that.
How do your
competitors acquire their leads? Why does their process differ from yours? What
distinct advantages can you bring to the table?
Whether you
hire us for ongoing “behind the scenes” research and monitoring, or for a live
virtual session to provide and receive immediate and direct input and
strategies, it’s easy to add a new member to your success team!
