Paper Example: SWOT Analysis - Real Estate Industry

I have developed a SWOT analysis for my professional and personal expertise relating to the real estate business. By tackling each level, the next level will demonstrate to be a gratuity for me while operating in the industry (Leung et al., 2011). I have to be able to produce from my strengths to prevail over my weaknesses and utilize opportunities. This will permit me to defeat my aims in life within the industry. Below is the results of my professional and personal SWOT analysis:

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Strengths

Networking involvements, multi-tasking ability, creativity, fancy to succeed, quick response, strong reputation in the market for the existing agents, customer service, community involvement, ability to work independently able to change direction faster, a lot of time for excellent customer service, team player, and well educated about the property market (Leung et al., 2011).

My strengths will provide the best chance one could have to shine in this industry. Having the ability to work independently will be a significant upper hand when giving out listings (Leung et al., 2011). My strengths form an important part of my company. They are the things I do better than anybody else. They form the values which drive the organization's goals and objectives. My organization's aspects is also a strength because it brings me a clear advantage by providing production process of high quality. As a result of my organization's team analysis, I realized that the main strengths of the real estate business lie in its low overheads, technical expertise, and agility. These have allowed it to provide good customer service to a small client base.

Weaknesses

No market presence - innovate and be creative in advertising the company to make its presence; Vulnerable to staff turnover - screen well during interview process and provide an enjoyable environment for the staff; and Unreliable cash flow - seek advice from experienced business achievers in this industry (Leung et al., 2011). These weaknesses form part of the unpleasant experiences I have encountered in the organization.

Weaknesses are always inherent characteristics of my organization as they focus on procedures, people, systems, and resources. Weaknesses enable me to think about how I can improve on and the kind of activities I need to avoid. Imagining how other individuals in my organization view me is crucial in helping me come up with my weaknesses (Leung et al., 2011). This helps in uncovering the weaknesses I am always blind to. I do take time to examine why and how my competitors are performing better than me and find out the things I lack. The weaknesses of the organization are also to do with its size. The real estate industry will have to invest in training, improving the skills of its small staff, and focus on retention so it won't lose its key team members.

Opportunities

Competitors obtuse to adapt to new technologies; enlarging on the industrial sector with many chances for success; and local government wants to operate with local industries. These opportunities give chances and openings to positive things to happen (Phadermrod et al., 2019). The opportunities arose from situations extrinsic to my organization, such as the technology I used and developments in the market I served. They need an eye to what might occur in the future. Spotting and exploiting opportunities makes a big difference in the ability of my organization to lead and compete in the market.

I do think about the excellent opportunities I can identify immediately. They can boost the competitiveness of my organization (Phadermrod et al., 2019). It involves the interesting market trends I am aware of, whether small or big, which could bring an impact to my organization. I do watch out for changes in lifestyle, social patterns, government policy, and population profiles related to my field, which throw up exciting opportunities. Opportunities are seen in providing good-value services and rapid-responses to local government industries and local organizations. The organization can be first to market new services, given conditions such as its competitors being slow adopters.

Threats

Will technology be able to change beyond our regime to adapt? - Are the staff equipped with the best technology; shifts in market requirements; supply chain problems; shortage of recruits; and training available and vulnerable to significant competitor action - don't be reactive, be proactive (Phadermrod et al., 2019). The above threats include those factors which are able to negatively impact my organization's activities, goals and objectives from the outside. I must anticipate threats and take actions against them before I become victimized, and before the growth of my organization stops. My organization do think about the obstacles it faces in getting products to the market.

Since specifications and quality standards for products change, the products are to be changed for my organization to stay in the lead. Evolving technology is also seen as an ever-present threat. My organization do consider what its competitors do and weigh options of whether it should be shifting the emphasis of meeting the challenge (Phadermrod et al., 2019). The organization usually avoid copying what its competitors do without knowing how it will boost my position. Threats need the industry to keep up-to-date with technological changes. It also has to keep a close eye on its competitors, provided its vulnerability to changes in its market. For counteraction of this, the real estate industry needs to focus its marketing on specific industry websites. This is to get the best market presence on a little advertising budget.

Strengths

• I am capable of responding faster because I lack the need for higher management approval and red tape.
• I am capable of giving good customer care, as the current little work means I have a lot of time to be loyal to customers
• The organization's lead consultant has a powerful reputation in the industry.
• Direction can be shifted faster if the organization realizes our marketing is not operating.
• The organization has low overheads so that I can provide the best values to clients. Weaknesses
• The organization has little market presence.
• The organization have few numbers of staff, with facile skills base in several areas.
• The organization is vulnerable to vital staff being sick.
• The organization's cash flow will be unreliable in the early stages.
• Opportunities
• The business sector of the organization is expanding with many future chances for success.
• Local government wants to boost local industries.
• The organization's competitors may be obtuse to take on new technologies. Threats
• Technological developments may change the market beyond the organization's capability of adapting.
• Little shift in the center of a competitor might eradicate any market stance to be achieved.

References

Leung, B. Y., Hui, E. C., Tan, J. H., Chen, L., & Xu, W. B. (2011). SWOT dimensional analysis for strategic planning-the case of overseas real estate developers in Guangzhou, China. International Journal of Strategic Property Management, 15(2), 105-122. https://doi.org/10.3846/1648715X.2011.582745

Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, 194-203. https://doi.org/10.1016/j.ijinfomgt.2016.03.009