Overall Approach and Methodology
Bowen National Research applies a hands-on approach with every market assessment. The company maintains a staff of in-house researchers, field analysts and market analysts, each experienced and knowledgeable in the aspects that go into a thorough and complete market analysis. Because each market can have unique factors, the staff is trained to identify and evaluate each factor and its impact on the overall market.
The following are the four principles of Bowen National Research’s methodology.
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Work in collaboration with the client: Whether a site-specific market study or a market-wide overview, Bowen National Research works in collaboration with the client to ensure that all of the client’s questions and concerns are addressed in the study.
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Solid Demographic and GIS Information: The firm uses state-of-the-art mapping and demographic software to provide the most current and accurate estimates of demographic change. Our data provider, ESRI, provides 2000 Census data, current year estimates and future projections. In addition, Bowen National Research has the ability to utilize HISTA data. HISTA data provides detailed demographic information by breaking down households by income, household size, tenure (renter/owner) and age groups. Thus, we can provide more precise demand estimates for specific segments of the market.
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Extensive Field Research: Bowen National Research maintains a staff of professionals experienced at collecting critical on-site real estate data. Our field surveys are more extensive than those done by most market analysts, ensuring the identification of statistically valid properties. The field staff has been fully trained to evaluate property attributes, area competitors, market trends, economic characteristics and a wide range of issues impacting the viability of real estate development.
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Thorough Market Analysis: Our market assessments thoroughly evaluate all of the data gathered through the in-house and field research, as well as the most current demographic statistics to draw conclusions about and provide recommendations for the market. With the ever-changing real estate market, the analyst evaluates historic and current trends that may impact any proposed development.
The four components of our approach provide the basis for a solid and comprehensive market analysis.
Click here for an explanation of Common Terminology in Market Analyses
