How Competitive Sets and Qualitative Analysis Shape Leading CRE Strategies
With the latest commercial real estate data technology and thorough on-the-ground research, owners, brokers and reps can now build future-proof market strategies. But how can CRE professionals ensure they run the highest-quality competitor analyses?
In our latest whitepaper, The Value-Add of Competitive Sets, we discuss the emergence of automated competitive sets, the qualitative research that can be built upon them and evolving CRE trends such as flexibility and sustainability.
The Natural Next Step in CRE Data Technology
Automated Competitive Sets empower CRE professionals to pinpoint and easily stay up to date with direct competitors through powerful automation and accurate, timely data. With the latest tool from CommercialEdge Research, competitive sets can be easily created with a specific property in mind or for properties with certain characteristics. Decision-makers can then instantly access a host of aggregated data that compares these assets to their local market peers – and updates automatically as changes happen on the ground.
Competitive Sets vs. Traditional Sale and Lease Comps
The difference between competitive sets and traditional lease or sale comps is the range, quality and timeliness of the data they provide.
Firstly, automated competitive sets include a breadth of information such as average rents based on actual leases, active listings, lease spreads, sales & price ranges and more. These data points are invaluable both for landlords, owners, and reps who wish to enhance their leasing proposals and act as a dependable base for pricing evaluations in acquisition strategies.
Secondly, while the competitive sets dashboard is a clean, user-friendly experience in itself, it’s just the tip of the so-called iceberg. As Turner Levinson, senior account executive at Yardi puts it, the intel is supported “by 500 plus CommercialEdge researchers watching over virtually every market in the country, 24/7 and 365 days a year.”
Finally, the immediacy of real-time data means Competitive Sets also act as alerts – changes in the intelligence should prompt discussions around a wide range of topics, from revisiting rental rates to reevaluating what buyers and tenants are searching for in a particular market.
How to Enhance Competitive Sets Data for Exhaustive Market Analyses
Of course, while competitive sets provide a wide range of timely information, CRE professionals can augument the “table stakes” intelligence with their own qualitative analyses to get a complete picture of the local market.
To this end, commercial real estate specialists should factor in aspects such as sustainability and green features, health and wellness protocols, walkability, and more. As space needs are shifting in the new era of work, a tighter, granular approach is called for in the landlord-tenant relationship. And with real-time intelligence and boots-on-the-ground experience, enhancing these collaborations with closer communication and faster decision-making becomes a reality.
These are just a few of the aspects discussed in The Value-Add of Competitive Sets. Read the full resource to access actionable insights into the trends that will shape the future of both leasing and acquisitions.
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