How do you compare and benchmark your property or project against the competition and the market average?

1 Define your objectives and scope

The first step to create a market analysis report is to define your objectives and scope. What are you trying to achieve with the report? Who is your target audience? What is the geographic area and time period you are covering? What are the key metrics and indicators you want to measure and compare? These questions will help you narrow down your focus and set the boundaries of your analysis.

3 Identify and segment your competitors

Another important step is to identify and segment your competitors, based on their location, size, type, quality, features, amenities, and target market. You want to understand who are your direct and indirect competitors, what are their strengths and weaknesses, how do they position themselves in the market, and how do they affect your performance and profitability. You can use tools such as SWOT analysis, Porter's five forces, and competitive matrix to evaluate your competitive landscape.

4 Benchmark your property or project

Once you have collected and analyzed the data, and identified and segmented your competitors, you can benchmark your property or project against them and the market average. You can use various methods and tools, such as market penetration, market share, market growth, profitability, return on investment, and break-even analysis, to measure and compare your performance and potential. You can also use benchmarks to set goals and targets, and identify gaps and opportunities for improvement or differentiation.

5 Visualize and present your findings

The final step is to visualize and present your findings in a clear, concise, and compelling way. You can use charts, graphs, tables, maps, and infographics to illustrate your data and highlight your key points. You can also use narratives, stories, and testimonials to add context and emotion to your report. You want to make sure that your report is easy to read, understand, and act upon, and that it answers the questions and needs of your target audience.

6 Update and refine your report

A market analysis report is not a one-time project, but a continuous process. You need to update and refine your report regularly, as the market conditions and trends change, and as you collect new data and feedback. You also need to monitor and evaluate the impact and results of your report, and adjust your strategies and actions accordingly. A market analysis report is a valuable tool to help you make informed and strategic decisions in the real estate market.