Real Estate Agent Niche Analysis™
Hyper-Local Market Research & Competition Tracking for Real Estate Agents
The most important goal of Real Estate Agent Niche Analysis™ is to better understand your target market, down to a hyper-local level.
Specifically, Agent Niche Analysis™ uses proprietary REVAS systems & processes to create a detailed Niche Analysis Report to include 7 Key Data Points including:
- How many Total Properties are in your target neighbohood(s) / Zip Code(s)?
- What is the Total Approximate Aggregate Value of all properties in your target niche?
- What is the Annual Transaction Volume occurring in your target niche each year (by Sides and by Sales Volume)?
- Therefore, what is Average Annual Turnover in your target niche?
- Who are the Top Producing Agents already dominating your target niche(s)?
- What total sales volume and Gross Commissionable Income (GCI) are those top producers closing & earning?
- What Market Share Percentage do those Top Producers already represent?
In essence, the goal of the service is to determine the exact amount of business that’s conducted in your target niche, including the number of transactions occurring each year, and an actual dollar amount for the total sales volume.
This makes it much easier to calculate the realistic income potential of setting & achieving your annual sales goals…
… Including understanding how competitive you’ll need to be, potentially stealing market share from the preeminent top producers already dominating the same niche.
How It Works:
Real Estate Agent Niche Analysis™ uses a proprietary combination of unique REVAS software & fully-trained Virtual Assistants.
To determine the 7 Key Data Points mentioned above, we will analyze all existing properties and recent transactions in your target area using both Public Records & either your local MLS or other Real Estate Data sources.
From there we’ll organize and clean the data using an Overseas Virtual Assistant, following our pre-existing Standard Operating Procedure (SOP) for this specific Agent Niche Analysis™ research task.
The final result is comprehensive Niche Analysis Report that will include all 7 Key Data Points in an easy-to-digest format, so you can quickly scan and understand:
- Total Properties,
- Total Approximate Aggregate Value,
- Annual Transaction Volume (by Sides and by Sales Volume),
- Average Annual Turnover,
- Top Producing Agents,
- Gross Commissionable Income (GCI) earned by those Top Producers, and
- Market Share Percentage the Top Producers currently represent.
The greatest value of Real Estate Agent Niche Analysis™ by REVAS is that you probably don’t have the time or resources to do this yourself. It would be a painstakingly manual process to try to do it in-house.
We actually have software that shortcuts some of the most difficult parts that probably will make them take about 1% of the time, in other words reducing the time by 99%. The other big value out of Agent Niche Analysis™ is now you can work backward.
- What is your income goal?
- Where are you going to be targeting for your RE business to reach that goal?
- What percentage of the actual sales volume in those target markets are you going to need to hit to be able to achieve our income goal?
- Who else is out there competing against you for the same income & how feasible is it for you to actually beat them in that competition & hit your income goals?
With Agent Niche Analysis™ this is the best way to learn that.
The biggest con of this service is that it still only tells you about some really specific areas. It only covers one zip code at a time, only 2 or 3 sometimes maybe 4 or 5 producers in the area, & if they’re not dominating those zip codes heavily – not doing 10% – 15% of the sales volume there, then there’s a lot that’s left out that you won’t know.
You’ll still know the total sales volume for the zip code & therefore the potential Gross Commissionable Income for the zip code, but you won’t necessarily know how that’s broken up among the Agents there, & you’re still going to have to do a little more research to make sense of that data with the boots on the ground approach.
Since the Agent Niche Analysis™ is a custom REVAS packaged service that you can buy off-the-shelf, that uses a combination of proprietary technology & human resources, this is priced based on zip code.
Typically, it will be based on the size of your zip code, because that will influence how much data we need to analyze to come up with the result. Roughly, you can expect in the rage of $250 – $500 to get a zip code analyzed with the REVAS Agent Niche Analysis™ system.