How A SWOT ANALYSIS Can Help Your Real Estate Business

By
Managing Real Estate Broker with Premier Sotheby's International Realty BK659279 
https://activerain.com/droplet/4LFm

How A SWOT Analysis Can Help Your

Real Estate Business

 

 

S –   StrengthsSWOT Analysis

W – Weaknesses

O –  Opportunities

T –   Threats

 

 

How can a SWOT Analysis Help Your Real Estate Business?  A SWOT Analysis is a useful technique and exercise that can help you uncover areas of weakness as well as identifying new opportunities that you may not be currently focusing on. Knowing your strengths will help you focus on your value proposition and what you bring to the table that will differentiate you from your competition.

 

By recognizing your strengths, weaknesses, opportunities and threats, you can restructure and develop your Business Plan to take advantage of new opportunities, identify weak areas or areas that need improvement, and finally be able to fully analyze your competition and identify threats.

 

A SWOT Analysis forces you to take a hard look at your business and explore new opportunities.  This is much more than a Business Plan.

 

       Face your Challenges

       Identify New Opportunities

       Develop Strategies to Achieve your Objectives

       Assessment of Your Current Business

 

S - YOUR STRENGTHS (What makes you Special)

Education

Experience

Your Positive Traits

Your Value Proposition

Your Reputation

Location

Your Brand

Your Market Share

Resources

Your Support Group - Team

Your Competitive Advantage

Your Personality

Empathy

 

W - YOUR WEAKNESSES (Identify Areas That Need Improvement)

Lack of Experience

Lack of Education

Financial Limitations

Lack of Support

Lacks Passion

Impatience

Your Personal Limitations

Financial Difficulties

Lack of Direction - Poor Planning

No Training

 

O - OPPORTUNITIES (Identify New Business Opportunities)

Emerging Markets

New Developments

Market Trends

Expand Customer Base

Foreign Investors

Recruit Team Members

New Target Markets

 

T - THREATS (Identify Threats to your Business)

Economic Factors

Competition

Low Inventory

Industry Changes

Outside Competition from 3rd Parties

Interest Rates

Financial Issues

Lack of Enthusiasm or Motivation

 

In conclusion, as a Real Estate professional, you should periodically perform a SWOT Analysis on your business.  As a result, you will recognize your strengths and core business values, be able to identify and deal with any weak areas, and prepare for any possible threats or outside influences that may affect your business, market share, and ultimately your bottom line.

New business opportunities will present themselves, and being prepared to take advantage of these as they become available will help you grow your business and brand as well as keep you ahead of your competition and maintain a steady flow of business and commission income.

 

Image Courtesy of What Makes a Good Leader 

 

Posted by

Regal Christie's International Real Estate  Joyce Marsh Certified Luxury Home Marketing Specialist   Joyce Marsh Institute for Luxury Home Marketing Member     Joyce Marsh Million Dollar Guild Member Institute Luxury Home Marketing  Joyce Marsh 5 Star AgentDupont Registry Elite Agent

 

Joyce Marsh, Regional Manager Florida

Regal Christie's International Real Estate

386-299-8291   JoyceMarsh@RegalRealtyOrlando.com      

www.RegalRealtyOrlando.com   

                                  

Copyright 2008-2019 Joyce Marsh.  All Rights Reserved.  Information from sources deemed reliable, but not guaranteed. Nothing contained herein to be considered legal advice, please consult your Attorney for advice. 

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Show All Comments
Rainmaker
182,962
Mark Zubek
Land of Liberte' Realty - Indian Rocks Beach, FL
727-656-2651 Rental Manager/Broker Associate

Joyce,

Thank you for taking the tine to spell it out!

I will apply this to my business.

Mark Z

Dec 02, 2015 08:38 PM #21
Rainmaker
715,346
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I like this approach and you have summed it up nicely for us.  This is a great time of year to be working ON our business.  Looking forward to my return to your wonderful area in March.  :)

Dec 02, 2015 10:03 PM #22
Rainmaker
1,421,677
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joyce Marsh I used a SWOT when I was the President of a commercial networking group as a way to increase membership. It really makes you think.

Dec 02, 2015 11:04 PM #23
Rainmaker
2,575,790
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Cavemen going on a hunt for food did all this but the name SWOT was to come later...Good posting Joyce Marsh 

Dec 02, 2015 11:12 PM #24
Rainmaker
680,255
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Awesome post Joyce. I bookmarked it so I can come back and make my SWOT analysis!

Dec 02, 2015 11:17 PM #25
Rainmaker
1,474,187
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Joyce...what a great post. This was also the perfect time of year for you to write it. :):)

Dec 02, 2015 11:32 PM #26
Ambassador
1,730,056
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wow, this is an excellent blog post. An important topic, and so well presented. Thank you

Dec 02, 2015 11:33 PM #27
Rainmaker
401,635
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

We all should be well engaged in preparing for 2016. I like the SWOT approach it is a very well organized approach that is also balanced.

Thanks for sharing.

Dec 03, 2015 08:59 AM #28
Rainmaker
513,183
Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector
SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno - Bourbonnais, IL
The Home Inspector With a Heart!

Printed and going to implement. have'nt done this in a couple years. 

Dec 03, 2015 10:35 PM #29
Rainmaker
705,949
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Wow Joyce, great article! That's business school stuff. The SWOT analysis is one of the most powerful business analysis tool out there. Everyone should follow your advice. I'll be putting my team through it myself at our business/marketing strategy meeting for planning 2016.

Dec 03, 2015 10:44 PM #30
Rainer
511,863
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

After effectively implementing the elements of SWOT, you'll be able to have the SWAG to achieve your goals by getting excited. Great post.

Dec 03, 2015 10:46 PM #31
Rainer
149,198
Theresa Akin
CORPUS CHRISTI REALTY GROUP - Corpus Christi, TX

Great Post! Time to SWOT myself for a better year.

Dec 04, 2015 01:14 AM #32
Rainmaker
1,431,803
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Well organized post with some good thoughts on planning and such.  I like bringing structure to an issue like this.

Dec 04, 2015 02:47 AM #33
Rainmaker
1,638,557
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Well done. Perfect time for evaluating with 2016 goal making.

Dec 04, 2015 04:15 AM #34
Rainmaker
864,116
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Perfect timing for the coming New year. Time for me to SWOT my business plan. Great post and congratulations on your feature blog.

Dec 04, 2015 04:18 AM #35
Rainmaker
181,985
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Well done Joyce. This a powerful tool that can help agents become more effective and efficient. There is, however, another important SWOT point that needs to be made.

Strengths and weaknesses are directly related to the motivations and capabilities of the agent. They are part of an agent's INTERNAL ENVIRONMENT and are essentially under an individual agent's control. Therefore, it is possible to enhance our strengths and eliminate or mitigate our weaknesses. We do this, of course, by building on our strengths, identifying our individual weaknesses, gaining experience and getting appropriate training, etc.

Opportunities and threats are part of the EXTERNAL ENVIRONMENT. They are mostly not under our control or influence.

Our challenges are to focus on the opportunities and  threats that match up the best with, hopefully, our evolving improvements in our INTERNAL ENVIRONMENT.  

Dec 04, 2015 08:22 AM #36
Ambassador
4,308,044
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Joyce Marsh excellent way to understand oneself and implement the best strategies based on this analysis to our business - it will be successful if done right.

Dec 04, 2015 03:20 PM #37
Rainer
17,477
Irina Tibbits
Panhandle Real Estate, Inc - Panama City, FL
Investment, Sellers, Buyers,Relocation

Great post , Thanx for sharing !

Dec 05, 2015 12:52 AM #38
Rainmaker
233,276
Liane Thomas, Top Listing Agent
Professional Realty Services® - Corona, CA
Bringing you Home!

This is a great list and timely too, as we look forward to improving in the New Year. Thank you for sharing, it is being printed and posted on the wall. 

Dec 09, 2015 06:45 AM #40
Rainer
40,034
CARDWELL THAXTON
Keller Williams - Princeton - Princeton, NJ
Appraiser. Investor. Realtor. Solutions.

Good article.  I've just learned about and in the process of applying SWOT to my real estate investing business.  Guess I should have started here.  

Apr 09, 2019 01:02 PM #41
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Premier Sotheby's International Realty
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