The Tar Team - SWOT Analysis
The Tar Team's strengths include its experience and knowledge of the real estate market in Markham and the Greater Toronto Area (GTA) at large, but the company is threatened by bigger national players that also dominate the GTA real estate market. Below, we have provided a more detailed SWOT analysis for the company.
- The Tar Team has over 35 years of experience.
- The Tar Team is a small business and this allows them to provide more personalized services to their clients in the market they operate.
- The team generates the majority of its traffic from organic search which suggests that they appear on searches for some specific keywords organically.
- Customers seem to have a positive experience with the Tar Team as most of the reviews were positive. The company appears on page two of Google search result for important keywords such as "buy house Markham".
- The company's unique selling proposition is its experience and knowledge of the Markham and York area real estate market.
- The Tar Team's founder and CEO, Stephen Tar, is an award-winning real estate agent in Markham and his reputation reflects positively on the company.
- The company has a digital presence with a responsive website and social media presence.
- The company doesn't have enough online traffic and third-party content about the company is limited online.
- Although the company is focused on the Markham area, they are dominated by bigger players and appear on page three and page four on Google search result for "Markham real estate listings" and "real estate Markham" keyword search respectively.
- While the company has positive reviews on its websites, there isn't any review of the company on Third Party platforms such as Yelp that are more trusted by people.
- The company's social media following is poor, with less than 2000 followers in total across Facebook, Twitter, and Instagram.
- The company seems to rely on cold calling leads and this has led to criticism from someone that was cold called on Social Media.
- The company is a small company and as such has room to grow in a big market.
- The Canadian population is growing and incomes are rising which bodes well for the real estate industry in Canada.
- The aggregate price of a home in the Greater Toronto Area (GTA), the area the company operates, increased by 3.4%. This also suggests that the home prices in Markham (a sub-region of the GTA and the company's main market) may soon be rising despite the fact that it is currently flat.
- Analysts believe that the reason the housing market was flat in Markham in 2018 was because of the cold weather as homebuyers took a wait-and-see approach. However, analysts expect that the spring will "reinvigorate the housing market in the region as condominium projects are expected to be finalized in the coming quarter."
- The Tar Team faces threat from big real estate competitors such as Zillow, Movoto, Realtor, Markham Realty, Zolo, Points 2 Home, among others that dominate search for real estate listings and properties in Markham.
- Commercial and residential constructions have slowed partly due to declining global crude oil prices and this negatively affects real estate businesses in Canada, including The Tar Team.
- The aggregate home prices in Markham has remained flat at $1,001,446 between 2018 and 2019.
- The housing market in Markham is one of the weakest in the GTA across all housing types.