Real estate plays an essential role in the US economy. As the real estate market continues to mature, we have started witnessing the ongoing transformation of an industry that deals with factors such as a tight labor force, implementation of new technologies, and adoption of practices to attract capital to the asset class. Additionally, rising rates, demographics, globalization, political uncertainty, and demographic shifts are compelling real estate companies to adopt new approaches to manage regulatory requirements and financial risks, while meeting the challenges of expanding globally and achieving sustainable growth.
A well-known real estate company in the US was finding difficulties to determine market value for their properties. Demographic shifts and preferences, coupled with technological advances, adversely affected the real estate market. By taking this into consideration, planning, delivery, and management of properties were becoming challenging for the client. With Infiniti’s market evaluation engagement, the client wanted to better anticipate future opportunities and adopt new ideas for business success.
Our market evaluation solutions take into account the changing landscape of the industry and current competitive scenario to help businesses identify potential opportunities and meet their growth targets. Contact us for more insights.
Top Challenges Faced by Real Estate Company
Problem Statement 1: Uncertainties in property prices
Real estate prices are deeply cyclical. Factors such as property location, neighborhood comps, appraisal value, interest rate, and competitors’ pricing are adversely affecting the pricing of real estate properties. With the help of market evaluation analysis, the client wanted to accurately set prices for their properties.
Problem Statement 2: Demographic shifts and preferences
Demographic shifts and preferences coupled with technological advances are affecting the real estate market. With Infiniti’s market evaluation analysis, the client wanted to gain deep insights into the demographic’s preferences.
Problem Statement 3: Falling home values
When home values fall, the demand for housing falls too. This has put pressure on real estate companies. Hence, the client approached Infiniti Research to leverage the market evaluation solution.
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Solutions Offered and Value Delivered
The market research experts at Infiniti Research recommended a market evaluation analysis to help the client tackle challenges in the real estate market.
Phase 1: Comparative market analysis
Evaluation of similar properties that have been recently sold in the surrounding area helped the client set a fair price that meets the current market demands. Market evaluation solutions further helped the client analyze their top competitors and make better business plans.
Phase 2: Demographic analysis
The statistical analysis of customers helped the client determine customers’ needs and preferences. Also, market evaluation analysis helped them better target their customers.
Phase 3: Real estate market analysis
The real estate market analysis helped the client determine a fair value for their products. This attracted more customers and eventually increased their sales rate.
By leveraging our expertise in offering market evaluation solutions, the client was able to set fair prices for their properties. This attracted higher leads, which subsequently increased the sales rate for the company. Also, the client was able to save $4 million in a year and take their business to a new realm of success.