Understanding the real estate market involves grasping various factors that influence supply, demand, pricing, and overall market dynamics. Here's a comprehensive overview: 1. Supply and Demand: Like any market, real estate operates on the principles of supply and demand. Supply refers to the number of properties available for sale or rent, while demand reflects the desire and purchasing power of...
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In the real estate industry, competition is a fundamental aspect that shapes market dynamics and influences the strategies of industry participants. Here's a breakdown of how competition manifests in the real estate sector: 1. Real Estate Agents and Brokerages: One of the most visible forms of competition in the real estate industry is among individual agents and brokerage firms. Agents compete for...