Business Strategy

 Porter's Five Forces: 

competition from vendors who manufacture substitutes	med	We offer a unique service to clients when compared to other real estate agencies. We own over 500 apartments in Hoboken giving us the ability to offer incentives and competitive prices that no one else can.
competition from new competitors	med	Currently there is a surge in the number of new agents entering the real estate field. The more agents a company has, the more likely they are to receive more listings, rentals, and sales. This is why Maridian has been actively looking for and hiring new talent. We have already signed on at least 4 new agents this month and we plan on continuing this growth.
competition from existing rivals	high	Well known agencies have the upper hand when it comes to gaining the trust of new clients. When people are more familiar with the name of a company, they tend to gravitate more towards them than smaller companies. Since they see their advertisements more often than the smaller companies, they feel that it is a safer choice.
bargaining power of suppliers	low	Considering our unique position of owning over 500 units, we have the upper hand over other brokers since we can offer prices and deals that most brokers can’t. For example, 2 free months or no security deposit options.
bargaining power of customers	med	Prospective clients can negotiate lease terms and rent price. Depending on how fast or slow the properties are selling, this can affect the bargaining power of buyers and renters.

Competitive Strategy:

Industry Wide Differentiation - We strive to offer the best incentives and prices around as well as a wide variety of rental/sale options that can best suit each client's needs.

We strive to create lasting relationships with all clients. We offer them a group of selected listings tailored to their needs, then work to provide email blasts of available listings to attract more agents and clients. We then go ahead and schedule showings as needed to show the available listings. Throughout the process we maintain communication with clients through automated messages to build trust and a lasting relationship. We intend to be there through every step of the way to relieve the stress that moving can come with.

Sales Process:

Maridian Real Estate provides clients with a wide selection of rentals/homes that they can choose from. Once a listing is chosen, the application process takes place. The client must pass a credit check, fill out an application and supply the company with proof of income. Upon approval of the application, a lease can be drawn by the agent. Once the client signs the lease, it gets sent to the landlord for their signatures. After all signatures, the security deposit, first month rent and broker fee are due before move in. Clients can then move in on their move in dates and continue to stay in contact with their agent if they ever have any questions.

Competitive Advantage:

Virtual tours are available through Matterport. Matterport is a software that allows photos of a property to be pasted together as a virtual walkthrough tour of the house or apartment. This eliminates the need for the customer to have to visit every single location but rather view them online and proceed with an in person consult if they are further interested. The ability to show and weed out properties that don’t make the cut for the clients without the cost and wasted time of showing them all in person.

Structured & Dynamic Processes:

Structured: Sales Process

Dynamic: Marketing Strategies

We use Instagram as our prime social media platform in order to reach a larger demographic. We start by planning out our week with what type of posts we should be making a day. Some of those could be sale posts which is when we choose the best, most eye catching picture of one of our properties and attach a catchy and engaging caption. These captions could be anything from a fun fact to a question that could lead potential clients to one of our agents. Another example would be what we call an "experience post". These type of posts boast about the exciting lifestyle that Hoboken has to offer.