The SWOT analysis of estate marketing

The SWOT analysis of estate marketing

SWOT represents Strength, weakness, opportunity and threat. This report was designed to help West Vancouver realtors organize competitive strategies, and it will be best used in estate marketing. SWOT analysis is the first step in the estate marketing process. This will broaden your understanding of the business and also aid the identification of ideal customers.

Let’s look at each abbreviation of SWOT analysis

  • Strength: this involves that selling point that makes Burnaby real estate ahead of others. This some strength
  • Accessibility to market that can pay any amount
  • Living in an area where the prices for real estate is high
  • Good mentors in the business
  • Solid reputation in the area
  • Less monthly expenses
  • Outstanding connection
  • Knowledge of taxation in real estate
  • Weakness: this involves the problems that are affecting your business in that location. Some are as follow below
  • Terrible computer skill
  • Weak office system
  • Uncertainty of the economic in the area
  • Poor language skills or communication skills
  • Lack of saving
  • Marketing budgets that is not enough
  • Over dependency by family members
  • Lack of assets management
  • Overweight
  • Shallow knowledge on the business
  • Opportunity: this are the future benefits, outcomes, chances that your environment, markets, and the economy will present. Below are the opportunity that will come your way
  • Local community is gentrifying
  • New industries openings in the area, attracts more people who will lead to more house purchases
  • Local area magazine or newspapers gives you a contract with advertisement
  • Local community may have to reduce their taxation on real estate, which means more people to buy
  • All the chance to be eligible for a broker license soon
  • Threat: this involves all possible threat to the business. These are often in the future.

Here are some threats that may occur

  • Increment of interest rate
  • Major disaster in the area
  • Cash flow problems
  • Stocks gets overpriced, which decrease wealth effect
  • A lot of real estates are rising causing competition
  • Innovation that you are aware of which may affect your business

How to plan for the following SWOT

  • Take total advantages of the strength and do whatever you can
  • Reduce and eliminate each and every weakness
  • Absorb every opportunity and adjust for them to meet you at the right spot
  • Every threat should be neutralized

you will need you to set a deadline to meet your SWOT potential