Competitiveness Within the Industry Flashcards
1
Q
2 main types of competition for an estate agent?
A
- ) Competition from other estate agents
2. ) Competition from the economy
2
Q
Agents often compete based on…
A
…the fees they charge.
3
Q
When will there be many estate agents who want to make money in the market?
A
When the property market is booming, and the economy is strong.
4
Q
In what times do only the estate agents who know how to make money in difficult times succeed?
A
When the economy is struggling and the property market slows down due to people being reluctant to buy or sell.
5
Q
What is important to think about regarding the 2 types of competition for an estate agent?
A
It is important to think long-term and build strong relationships which will lead to repeat business.
