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Direct & Indirect Competitors
The following residential real estate brokerage firms are located within a 20 mile radius of [Company Name], thus providing either direct or indirect competition for customers:
RE/MAX, located in [location] is a franchise of a nationwide real estate chain. The branch currently employs fifteen brokers, although at least ten of them work only part-time. RE/MAX offers a nationwide database of rentals and sale properties and high brand recognition.
However, RE/MAX agents experience high turnover, resulting in little concern for maintaining ongoing relationships with clients. Also, the agents themselves are mixed in quality, ranging from part-time brokers with little experience or sales records to full-time brokers with long-term experience. There is no systematic company method for passing on knowledge from experienced to inexperienced brokers as all are competing with each other, to a certain extent, for commissions.
John Doe Real Estate
John Doe Real Estate is an independently-owned and operated firm which, founded by John Doe ten years ago. John Doe Real Estate employs five full-time brokers and focuses on luxury sales of residential real estate. They feature many exclusive listings and offer deep services for buyers and sellers for luxury homes.
Unlike [Company Name], John Does Real Estate operates with a smaller number of transactions each year due to the higher commissions they earn on each. They refuse to negotiate on their broker’s fees, and sometimes lose potential clients because of this. However, for the premium end of the local market, they are the local leader.
Apartment Living is a regional firm with 100 active brokers in the region. Apartment Living has grown quickly since its founding fifteen years ago by focusing only on apartment rentals and sales. It is increasingly well-known among renters as a low-fee rental resource to find quality apartments.
Some reviews of Apartment Living point out the low quality service offered by brokers, who operate much as independent agents with little training in customer service. Furthermore, Apartment Living does not offer sales of houses and therefore does not attempt to maintain long-term relationships with renters who are moving up to purchasing homes.
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location is near the center of town, in the shopping district of the city. It is visible from the street where many residents shop for both day-to-day and luxury items.
- Client-oriented service: [Company Name] will have a full-time assistant to keep in contact with clients and answer their everyday questions. [Founder’s Name] realizes the importance of accessibility to his clients, and will further keep in touch with his clients through monthly seminars on topics of interest.
- Management: [Founder’s Name] has been extremely successful working in the real estate brokerage sector and will be able to use his previous experience to grant his clients detailed insight into the real estate world. His unique qualifications will serve customers in much more sophisticated a manner than many of [Company Name’s] competitors.
- Relationships: Having lived in the community for 25 years, [Founder’s Name] knows many of the local leaders, newspapers and other influences.