In practice, what happens is that managers, especially those who work with leasing, are so busy and stuck in their bureaucracies that they spend all day solving problems, and when the day ends, the feeling is that they did not manage to finish the job. 

Unfortunately, I have to say that this is extremely harmful to your business because you don't have time to stop and analyze strategically if it is growing or not, what is working and what is going wrong and thus making the necessary adjustments.

Tips for building market intelligence

Given this scenario, we decided to share the benefits and tips on how you can generate market intelligence within your real estate marketing without having to hire research and consultancy or be held hostage by market research. You will use the data you already have, and many times we didn't even know it was there.

 1: Ask the right questions

First thing: What are the answers you want to get? Stop everything you are doing, get a pen and paper and write down only the questions that you think are important to know the answers to.

Ready? Have you already written? So here are some suggestions that I think are important for real estate activity:

• How many appointments do I have per month?
• Where do these calls come from?
• What types of properties do I have in my property portfolio? 
• Do I have more exclusive or non-exclusive properties?

2: Collect the information

Now that you know what you want to know, the survey of a previous period (quarter, semester, or year), and try to get the answers in an exact way, not by "guessing" or "feeling." 

And it is precisely at that moment that you may encounter some difficulties, as this is where the villain and the holes for an excellent strategy to generate business intelligence live. The main reasons that create these gaps are:

• Not having the majority of calls registered
• Indiscipline on the part of the operational, who knows that he has to fill in some information but who think that it is just a bureaucratic detail and that it is not essential;
• Lack of processes, whether to register a property, make an appointment, etc.;

All of these gaps result from the strategic and operational misalignment since you are not the director who serves all of your customers, or who performs all the fundraising, or who generates all contracts. So, it is necessary to have a culture of discipline and process of everyone involved in real estate to achieve this.

 3: Have an excellent real estate system

If you have had difficulty finding some or all the answers to your questions, you are probably not using technology to your advantage. Nowadays, it is scarce for a real estate company not to have a system. It happens that not having or having harmful software is almost the same thing.

Your system must be an ally, a facilitator in this moment of information collection, both to facilitate and guarantee the processing of this data and generate quality information and performance indicators, for example.

 4: Analyze your information

With the information generated, make an in-depth analysis of the indicators and determine precisely how your business is doing. Think about what worked and what didn't. I like to say that your real estate agent's business is your primary source of learning. Analyze the points that worked, and mainly why it worked.

For a clearer understanding of this topic, I will illustrate with some examples and situations:

• Which media was more efficient and gave you more return in closed deals?
• What is your buyer's average purchase speed? And the lessee?
• Do you sell more properties with or without exclusivity? What percentage?
• What stuff do you sell the most? Residential or Commercial? Apartment 3 bedrooms, house, rooms, or penthouse?

 5: Act, quick

Indicators, graphs, and spreadsheets are of no use NOTHING if you have no attitude. This exercise of analyzing your real estate company's indicators must be continuous and adapted according to each situation, especially when we are going through, in the face of so many changes happening at an excessive speed. It is not a system or spreadsheet that will change the market. It is your attitude that will change the direction of your business.

Here lies market intelligence. It is your action in the face of this information. It is what you do with that information.

Conclusion

I hope that this content can help you generate your market intelligence and outline better business strategies. Remember that the most important thing is to act.