Demo/Example Report

Comparative Market Pricing

Broker Junction

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    Using a City/Town Keyword to Select a Broker Area
 

You are wanting to identify comparative pricing for commercial (retail and office) properties in the Umhlanga Ridge area. You're not sure if this is Durban Central or North Durban, so you leave the Area set to "Keyword Selected" and in the City/Town box you enter "umhlanga ridge".

The system will check the Broker Areas nationally, searching for towns and locations that contain the text string - "umhlanga ridge". This will return the area [KwaZulu-Natal - Durban Central] and your report will be generated accordingly.

 

 

This is not a great solution as area is very broad and the analysis will include the upmarket Umhlanga area, the decaying city centre and the lower cost southern suburbs and the south industrial basin. By scanning the returned properties you will see the wide range - and the analysis shows an average of R65/m2 with a range of R21/m2 to R118/m2. Some 71% of the rental rates in the results are more than 25% higher (or lower) than the average. So the results are very widely spread.

 

 
    Using a Location Keyword Only, avoiding Selecting a Broker Area
 

Your other option is not to use a wide Broker Area for the search, but to instead use a Location Keyword Only Search.

This will ignore the Areas, and will instead search the Title, Description and Location Keywords for the selected properties. This works well when one has quite unique keywords such as Riverhorse, Briardene or Umhlanga Ridge. It does rely on the fact that the listing broker took care over thinking of and entering the keywords, and of course some will be missed.

 

 

But this does have the effect of giving a narrow, focussed result with far more relevant analysis figures.

In the following example we have entered "umhlanga ridge" into the Location Keyword Only search box.

Now only 17% of the rental rates vary by more than 25% from the average of R126/m2 and the range is much narrower at R103/m2 to R162/m2.

 


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