Real Estate Competitor Analysis

/in , , , /by

Competitor Analysis is a very crucial part of the online marketing strategic planning process. Many real estate offices should have at least a strategic plan that outlines the main role of their competitor analysis.

Why even bother to analyze your real estate competitors?

Some real estate agents think it is best to get on with their own marketing plans and ignore the competition. Others become very obsessed with tracking the actions of competitors and try to out compete them in SEO (often using black-hat methods). Many real estate offices are happy simply to track the competition, trying to copy their moves and reacting to website changes.

Comprehensive competitor analysis have a handful of important aspects in strategic marketing:

  • To help sales/rental agents understand their competitive advantages/disadvantages relative to competitors
  • To generate understanding of competitors’ past, present (and most importantly) future web marketing strategies
  • To provide well informed data in order to develop marketing strategies to achieve competitive advantage
  • To help forecast future returns that need to be made from future investments such as: how will competitors respond to a new website strategy?

There are many more aspects to analyzing your competitors and we can provide you with a detailed and very thorough report that analyzes your direct competitors. Also, recommend an action plan on how to get up to speed with your competition and out-compete them.

Feel free to contact us if you have any questions and how we can help – sales@tripleroi.com or call 617.855.5344

Real Estate Online Marketing – Why so competitive ?

/in , , , /by

Many real estate brokers are just starting to create online marketing campaigns or just launched their new website are always faced with the big challenge. Harsh competition form other real estate offices. Why you may ask ? Well, the answer is simple. Too many brokers have invested and continue to invest in online marketing heavily because these day is the most profitable form of lead generation especially for new sales or rental leads. Why is the competition so high in this industry ? Because, most real estate brokers tend to out-compete the other broker as we all know for a potential prospect which could easily lead to a high commission. Lets say a real estate office invests in online marketing about $30,000 to 40,000 a year and they get 5 leads in the first few months which results in 5 different commissions. And these commissions could range from 10K – 50K each and remember in the first few months. You do the math, they probably pocket an additional 100K so their return on investment is about $60,0000 give or take.

This is why real estate marketing is so competitive nowadays because every one out there wants to take the big bite and especially in the luxury apartment rentals.

New strategies need to be developed to dealing with your real estate competitors in order to profit from online marketing.

Feel free to contact us if you have any questions and how we can help. sales@tripleroi.com or call 617.855.5344