Anyone that works in the realm of commercial real estate, be they developers, users, investors, brokers, analysts or government officials, uses market analysis to make decisions about how to proceed with their various goals. Market analysis can be simplified to a data-driven examination of the market you are involved in and this information can be used to help you and a multitude of others move forward. Market analysis can be very complex and the data points that any given business chooses to look at can rely entirely on their industry. One of the advantages of partnering with a tenant representative, like the team at LCI Realty, is that you can have an advocate help you to sift through all the data without all the headache and use the information that’s relevant to you. To help you understand how the LCI team will help you when you reach out and contact them, here are the things you need to know about how to understand and use market analysis.
Factors That Affect The Overall Market Analysis
At any given time, the market can fluctuate based on a number of factors. Some of these can be controlled or manipulated to make sure that you get the best deal and other factors are really out of anyone’s control, but a good tenant representative can still anticipate them. Some of the factors that can affect market analysis are:
- Economic Factors – How does the local and national economy look?
- Demographic Developments – What is the demographic profile of the market?
- Supply and Demand (S&D) – Is the market saturated or are you filling a niche?
- Market Rates – Based on S&D, What are the rates being paid?
These are only a handful of considerations that an LCI Realty tenant representative will investigate and consider for your best interests.
Your Market Analysis Package
Apart from the factors that affect an overall market analysis, you have to figure out what the pertinent information is for your company about a specific property using that overall examination. In other words, economic and demographic factors about a city or state are important to know where to look, but you really need a tenant representative to go over zoning, local prices and rent, as well as local supply and demand to make sure you get the best property for your business.
When partnering with a tenant representative, you can make sure that the property you have chosen is the best property for your company based on market analysis. That’s where the team at LCI Realty comes in. Our tenant representative team will set your mind at ease and help you use relevant market analysis in order to make the most informed decisions about any commercial property.