Thursday, June 2, 2022

Why Real Estate Professionals Need Market Research

“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!

Monday, April 11, 2022

How Landlords Can Pre-Lease Apartments - and Keep Them Leased In Advance

You have the floor plans and/or blueprints for a 20 or more unit multi-family property. It is weeks (maybe months) before construction or renovation begins. Your goal is to have every available unit leased before your “ready” or delivery date.


Perhaps you own and operate large apartment buildings and want to keep every unit under lease. Even if fully rented now, leases expire and some valued tenants will relocate, creating future vacancies.


Either way, currently you are not able to do advance showings of available units in order to get them all leased. However, having a leasing office or model apartment costs you for the space, the staff, and maintenance every month it is needed. Paying commissions to a broker may get the job done, but results in thousands of dollars out of your pocket. As tenants come and go, those thousands in tenant acquisition costs continue to add up.


FIRST IN Real Estate Marketing has a complete solution for apartment building owners (and leasing managers). This solution reduces or eliminates the need for the aforementioned ongoing costs.


It starts with our “Custom Interactive Virtual Staging”. The tech team starts with your floor plans and/or blueprints. There is no need for the property to exist, or to visit the property site. Created to scale, the tech team showcases the specifics of each room or area of the property. You could have selected rooms be done, such as bedrooms, bathrooms, and kitchen. You could do a “before and after” to showcase a renovation. You can show “Behind the Walls” to feature integration of HVAC, Solar Panels, or retrofitting. If your units offer a spectacular view, it can also be shown as part of the created “tour”.


The strength is that a potential tenant can literally do a lot more using this feature than if they were standing inside the actual property!


Custom Interactive Virtual Staging can be used to impress:


+ Investors, Potential Partners

+ Contractors, Installers

+ Potential Tenants


Perhaps the most popular of the amenities is our ability to add Selection Panels for the viewing experience. One example is a Paint Panel which allows potential tenants to experience specific rooms while able to choose among a panel of wall colors. They would see how certain colors would match their furniture.


Other examples are Selection Panels for flooring choices, fixtures, and/or furniture styles. These are custom designed to help potential tenants envision themselves and their possessions being in your property.


Meanwhile, contractors and installers can use this to determine how and where to handle the job they are assigned.


Once prepared to meet your specifications, the next step is to implement your method(s) to showcase your property. Your choices of methods include:


+ Online tours

+ In-person presentations

+ Virtual Reality goggles


Online Tours allow potential tenants to do a 360 tour at any time, and (if you choose) be able to apply while still visiting your website. This amazing technology allows for family members in different locations to login and “tour” simultaneously!


In-person presentations allow you to showcase the property on any size monitor or screen at sales offices, conference rooms, conventions, or anywhere you have potential tenants.


Virtual Reality goggles can be utilized to let potential tenants to walk or ride through your unit(s) as if they are actually there by doing a 360 tour. They have the ability to change colors, flooring, and/or whatever you use Selection Panels for.


Once fully leased, this ongoing feature can be used to showcase for upcoming vacancies. (If a tenant is moving out at the end of March, you could let them experience the unit long before its April 15th availability.)


If and when you operate other apartment buildings, chances are we can modify your Custom Interactive Virtual Staging for future use for a lower cost. Therefore, your cost to fill “new” vacancies will be even less.


All you need are floor plans and/or blueprints to request your free estimate. Our team will take it from there. You could be ready to pre-lease or lease using this custom program within 30 to 60 days!


Custom Interactive Virtual Staging