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Indirect competition, geographic boundaries, customer service

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1. What would be The Indirect Competition For a Real Estate Business?

2. Also what are the Geographic boundaries for a Real Estate Business?

3. And what would be a good Real Estate Customer Service Techniques? Consider the following questions when answering question #3:
a. What satisfies my customers?
b. What will motivate a repeat customer?
c. What will generate a referral?
d. What will be you return and complaint policies?
e. What are you guarantees and guarantees?

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Indirect competition, geographic boundaries and customer service is examined.

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With respect to indirect competition, concerning a real estate business, according to Cieleback (2004) I came across an article about the European non-listed real estate investment market (e.g. direct and indirect competition) but would also apply to the US market, states that investors still seem to be domestically oriented, as pan-European real estate investing is faced with problems and obstacles such as taxes, legal structures, business infrastructure, operating standards and leasing conventions which are still different in every country; yet one has to mention that cross border real estate investment is growing by volume since 2001 accounting for 48% of total investment in 2003.

According to Cieleback (2004) at the same time the obstacles of pan-European real estate investing requires a critical mass to realize the economies of scale that make pan-European investment viable; additionally to realize diversification benefits within real estate considerable funds are necessary, as a minimum number of building in different markets are needed that are in general "indivisible." According to this author, consequently there is a trend toward using private vehicles and pooled funds to gain exposure to non-domestic real estate, as many institutions are not large enough regarding their international real estate allocation. (non-domestic real estate would be indirect competition; also I would think that any governmental subdivisions that are planned by local authorities could be labeled as a form of indirect competition; also businesses considering building on property which was once housing real estate).

According to Cieleback (2004) indirect vehicles are attractive for institutional investors because they offer access to product, as large lot sizes are easier accessible, access to local management, that has a proven track record in the targeted sectors, access to geared returns, as institutions in many cases are not allowed to gear their direct real estate holdings, but are allowed to invest in indirect geared investments and access to immediate diversification; although there was a loss of strategic control over (indirect) invested funds, nevertheless a trend to indirect real estate could be observed in Europe.

With respect to geographic boundaries concerning the real ...

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