2. ii
Table of Contents
Executive Summary....................................................................................................iii
Competitor 1: Apartment Savvy ................................................................................1
Competitor 2: Chicago Apartment Finders................................................................2
Competitor 3: Fulton Grace Realty............................................................................ 3
Competitor 4: Vesta Preferred....................................................................................4
Competitor 5: 33 Realty.............................................................................................. 5
Competitor 6: Trudo Realty........................................................................................ 6
Competitor 7: Kale Realty...........................................................................................7
Competitor 8: Elan Realty...........................................................................................8
Competitor 9: Urban Lux...........................................................................................10
Competitor 10: Rent Here Realty..............................................................................11
Appendix.....................................................................................................................12
3. iii
Executive Summary
The competitive analysis was conducted as to have a higher understanding of the
local rental market in Chicago and also analyze the competitive advantages of the
competitors in this market, if any.
The competitors that were analyzed and researched were as follows:
1. Apartment Savvy
2. Chicago Apartment Finders
3. Fulton Grace Realty
4. Vesta Preferred LLC
5. 33 Realty
6. Trudo Realty
7. Kale Realty
8. Elan Leasing
9. Urban Lux
10.Rent Here Realty
The analysis revealed the competencies for these firms. Examining through a
variety of functionality of these firms by asking for studio or one bedroom
apartments and three or four bedroom apartments, we ascertained the strengths
and weaknesses of each.
Notable among them were:
Elan Leasing: We were impressed with their realtors, although we had a poor
experience on the phone with the front desk. We met with two separate realtors for
studio or one bedroom and three or four bedroom apartments. And both impressed
us with their professionalism and understanding the client’s needs. The apartments
that we visited were absolutely according to the specifications that we had
submitted.
33 Realty: There was an utter lack of professionalism that we encountered with this
firm. After numerous calls, we failed to secure an appointment because the firm was
unsuccessful in answering all but two, which got through to the front desk. The
phone calls that got through into this void were not followed with the necessary
questions or with any other form of communication, henceforth.
Urban Lux: A very similar experience as the previous one, numerous calls were
made to the firm and only once did we get through to a realtor. In that instance, the
behavior of the realtor was unprofessional and he never followed through to obtain
an appointment for a showing. There was sheer lack of professionalism here too, as
the voicemails were never answered and there was a sense of disinterest shown by
the firm to its clients.
This report lists each firm’s strengths, weaknesses, and a detailed description of our
experiences and a synopsis of the firm.
4. 1
Apartment Savvy
Our Rating: ★★★
Summary
Apartment Savvy Chicago is a free apartment finding service founded in 2007 in
Chicago; it is now serving Chicago area neighborhoods such as downtown, Lincoln
Park, Near North, Lakeview, Ravenswood, Rogers Park, as well as others. They
have two offices located in River North and Lakeview/Lincoln Park. Apartment
Savvy advertises through out Zillow, Craigslist, Hotpads, and Trulia. They accept
walk-ins as well as appointments but the public opinion of Apartment Savvy is poor
with ninety unfiltered reviews on Yelp, they have a rating of two stars.
Experience
Jessica and Abeer both set up appointments at Apartment Savvy for 2pm on
Wednesday, June 19th; however, were both required to sit in the waiting room for
ten to fifteen minutes before meeting with an agent. Abeer met with Stan and
Jessica met with Summet, while all of the agents worked together in a loud,
crowded room, Stan and Summet were both very professional. They both took care
with the budget set and the neighborhoods Jessica and Abeer wanted to be in. For
four bedroom apartments there was a very limited amount of properties. Summet
said there was only one available in the set price range and it required a day notice
to show. Stan showed Abeer three properties during her appointment and Summet
followed up with Jessica on Thursday saying that the apartment had been rented
and he would email or call if any other properties came up.
Analysis
Based on our collective experiences with agents Stan and Summet at Apartment
Savvy we compiled the following strengths and weaknesses.
Strength Weakness
Pleasant office environment Limited number of properties – 4
bedroom
Takes appointments & walk-
ins
Asked for information that was already
given
Friendly & professional
agents
Inconsistent waiting times
No privacy in office – loud atmosphere
5. 2
Chicago Apartment Finders
Our Rating: ★★★
Summary
Chicago Apartment Finders is a free apartment finding service that matches people
with apartments in the city of Chicago. It started in 2002 with 2 people and a small
office; it now has 4 offices and more than 150 team members. Their offices are
located in Lakeview, Edgewater, Gold Coast and Hyde Park and have available
properties in most neighborhoods across the city’s north, west, and south sides.
Chicago Apartment Finders advertise through out Zillow, Craigslist, Hotpads, and
Trulia. They accept walk-ins at all four offices. The public opinion of Chicago
Apartment Finders is poor with one hundred and thirty unfiltered Yelp reviews
they have a rating of two stars.
Experience
Jessica and Abeer both contacted Chicago Apartment Finders and set up
appointments on Wednesday, June 19th. Abeer went to her appointment at 11am
and waited five minutes before meeting with agent Linda. Abeer shared her
criteria with Linda and immediately began making appointments for showings.
There was a property two blocks away from the office that Linda showed Abeer
before heading back to the office to make more appointments. At the first property,
Linda tried to push Abeer into renting a renovated version of the same unit that
didn’t lease until August. While making appointments back in the office, many of
the apartments were in neighborhoods outside of where Abeer requested and far
from the red line, which was another one of her criteria. At 1pm Abeer had to go to
another meeting. Other showings with Linda were scheduled for Friday.
Jessica was accommodated early for her appointment and waited ten minutes
before meeting with agent Ethan. He spoke of how difficult four bedroom
apartments were to find and asked how far Jessica was willing to go outside of
already listed neighborhoods. Searching within the price range and listed
neighborhoods, he found two properties that could be toured that evening. Ethan
instructed Jessica to return to the office at 4:45 for showings. Jessica returned to
the office at 4:45 to meet Ethan and saw three properties within the original criteria
set. After the showings ended, Ethan spoke again of how difficult the market was
and outlined the process of applying for apartments through Chicago Apartment
Finders.
6. 3
Analysis
Based on our collective experiences with agents Ethan and Linda Chicago
Apartment Finders we compiled the following strengths and weaknesses.
Strength Weakness
Pleasant office environment
Accommodating to early
appointments
Short wait times
Friendly & professional agents
Kept within price parameters given
Pushing slightly outside of
neighborhoods
Unprofessional & aggressive
Poor communication
No privacy in office – loud atmosphere
Fulton Grace
Our Rating: ★
Summary
Founded in 2008, Fulton Grace is a full-service firm, providing management and
brokerage services with a growing rental division. Located in central Lakeview at
2901 North Halsted they serve a wide range of neighborhoods on Chicago’s north,
west, and south sides. They do not accept walk-ins so an appointment must be set
up with their office. An online payment system is offered for both apartment
application fees as well as monthly rental payments. Fulton Grace uses Craigslist
and Trulia to advertise their properties. The public opinion of Fulton Grace is good
with fifty-three unfiltered Yelp reviews, their rating sits at four and a half stars.
Experience
Abeer and Jessica reached out to Fulton Grace Realty on Wednesday, June 19th, and
were told that there was a form we needed to fill out before meeting with an agent.
After returning the form, the receptionist said an agent would be in contact within
the next business day. Jessica was contacted Thursday morning by Chris with a list
of properties. He set up showings for mid-morning Friday. The first showing at
11:30am on Friday was a three bedroom apartment for a July 1st lease, even though
Jessica specified a 4 bedroom for an August or September lease. Chris claimed that
7. 4
since the other two properties were also July that they were not worth our time.
Abeer was contacted Friday by Luke who asked if she was available for Saturday or
Monday appointments. Abeer responded that she was only able to do Saturday.
Luke responded rescheduling a Saturday appointment for Monday at 1pm.
Analysis
Based on our collective experiences with agents Chris and Luke at Fulton Grace we
compiled the following strengths and weaknesses.
Strength Weakness
Quick initial response time from
receptionist
Wide variety of properties
Friendly & responsive agents
Slow initial response time from agent
Showed apartments for too early of a lease
Only showed 1 property out of 3 scheduled
Complicated form to fill out
Rescheduled last minute outside of
availability
Vesta Preferred
Our Rating: ★★
Summary
Founded in 2010, Vesta Preferred prides themselves as a resource for newcomers
and Chicago natives alike to find a new apartment or condo. They have a large
database of properties across Chicago in multiple price ranges and a user friendly
website search tool to narrow down criteria. Walk-ins are not accepted at their office
at 2632 North Halsted but they encourage clients to call or email to set up an
appointment with an agent. Vesta Preferred advertises by using Zillow, Hotpads,
and Trulia. The public opinion of Vesta Preferred is very good. They have a five
star rating with thirteen unfiltered reviews on Yelp.
Experience
After reaching out to Vesta, an agent contacted both Jessica and Abeer; Jessica
worked with Matt an Abeer worked with Brad. On Wednesday, June 19th, Matt
forwarded three properties saying that he would confirm showing times for each.
He sent an email confirmation on Thursday morning saying the other properties
were rented, but a showing is scheduled for 9am on Friday for the third. Traveling
to the appointment Friday morning, Jessica was informed that the property
8. 5
manager was stuck in traffic and the appointment was cancelled. Matt promptly
rescheduled the showing for 3pm that afternoon but claimed, due to his busy
schedule, he would be unable to attend. He followed up via email Sunday morning
to gauge opinion of the property.
Brad emailed Abeer saying that he would forward a list of properties on
Wednesday, June 19th. Not having received anything by Thursday, Abeer sent an
email following up. Brad responded saying that he sent the email with the
properties but would send it again. The email again was not received and Brad did
not follow up with Abeer.
Analysis
Based on our collective experiences with agents Matt and Brad at Vesta Preferred
we compiled the following strengths and weaknesses.
Strength Weakness
Communicative about availability of
properties
Friendly agents
Responsive to emails
Limited number of 4 bedroom
properties
Canceled appointment last minute
Poor communication
Issues receiving listings via email
33 Realty
Our Rating: Zero
Summary
As a full service real estate firm, 33 Realty offers leasing, property management,
and brokerage services to be a “one-stop-shop” for their clients. They organize their
rental listings by neighborhood across the city of Chicago as well as offer a
subscription feature that sends daily updates of properties that fit into particular
criteria. 33 Realty advertises by using Craigslist and Trulia. Their office is located
at 2636 North Lincoln Avenue does not accept walk-ins, but clients can call or email
to set up an appointment with an agent. The public opinion of 33 Realty is very good
with a five star rating on Yelp with 9 unfiltered reviews.
9. 6
Experience
Jessica and Abeer individually reached out to 33 Realty for the first time on
Tuesday, June 18th and left detailed messages outlining what exactly was wanted in
an apartment, along with our contact information. After not receiving a follow up,
Jessica spoke with a receptionist on Wednesday morning that said an agent would
be in contact that day. Having not received a call or email from an agent on
Wednesday, Jessica and Abeer followed up again on Thursday afternoon, to the
same response of the receptionist. By Thursday evening neither Jessica nor Abeer
had been contacted by an agent. The last attempt at following up was made by
Jessica on Friday morning but the phone was not answered. After leaving a
detailed message explaining past attempts, the type of apartment sought, and
contact info, the message was never returned.
Analysis
Based on our collective experiences with 33 Realty we compiled the following
strengths and weaknesses.
Strength Weakness
None Did not return phone messages
Did not return emails
Did not contact within time frame stated –
24 hours
Completely unresponsive
Trudo Realty
Our Rating: ★★★
Summary
Founded in 2010, it’s currently located at 1519 W. Irving Park Rd. It is an up and
coming firm; they serve the greater Chicago area market, and the firm only services
its customers as leasing consultants. Their website has a welcoming and friendly
organization, within a few clicks the future tenants can look through large selection
of apartments. Trudo Realty advertises by using Craigslist and Trulia. The
Company welcomes walk-ins and has a rating of 4.5 stars from a total of 10 filtered
reviews.
10. 7
Experience
Our queries over the phone were answered professionally, and we were referred to
the same broker, Stephanie. Her approach to the job was laid back but her
demeanor was pleasant, she was late to the appointment to the first property. The
condition of her car was atrocious which she attributed to her teenage son. Also,
while driving to the second showing, she mentioned, that she has crashed a total of
three times this year. This interaction did not inspire confidence in her abilities and
also her approach although not aggressive; she was not too involved in the process
either. She did follow up with us after the showings and was professional over the
phone while handling rejection.
Analysis
Based on our collective experiences with Trudo Realty we compiled the following
strengths and weaknesses.
Strengths Weaknesses
Pleasant, unaggressive behavior
Professional communications
Catered to fit client’s criteria
The car was extremely messy
Lack of knowledge of the
neighborhoods
No particularly good advice
Kale Realty
Our Rating: ★★
Summary
Founded by Sol Kale in 1951, the principal of the firm now is Sol’s grandson Nick
Patterson. From their headquarters at the 548 W Roosevelt Rd and two other
locations, the firm serves the entire Chicago market’s need of property
management, rental leasing and brokerage of residential properties. The format of
the website is cumbersome although the parameters to search for apartments have
been adequately provided. Kale Realty uses Zillow, Craigslist, Hotpads, and Trulia
to advertise their properties. The firm takes walk-ins only when agents are
available at the office, this is not the case usually. They currently have 2.5 stars on
their yelp profile with a total of 12 reviews.
11. 8
Experiences
After the initial conversation over the phone, we got appointments promptly with
the same realtor. He emailed us with a few listing and we choose the one we
wanted to see. The meeting took place at the first property and also there was late
cancellation of one the other property that was supposed to be a part of the
showings. Although, we wanted to see more than one property in a day, that was
not to be the case, although the realtor did advise us that we would get to see more
soon. The realtor was on time to the property and showing went smoothly. But he
spoke rarely and allowed the landlord to speak about the property and then gave
some information about the local area. I felt the realtor’s attire lacked
professionalism and although he was not aggressive, he did not provide any useful
advice either.
He did follow up through a phone call albeit a day too late. And also after the first
showing we never go together to see the other apartments. This utter lack of
professionalism seems to resonate with the yelp rating of 2.5 stars and reason we
also provided them with a poor rating.
Analysis
Based on our collective experiences with Kale Realty we compiled the following
strengths and weaknesses.
Strengths Weaknesses
Pleasant, unaggressive behavior
Initial quick response time
Lack of professionalism
Seems to be jaded
Failure to keep commitments
Elan Realty
Our Rating: ★★★★
Summary
Founded by Barbara Allen in 2008, it is a full service firm providing property
management, brokerage and rental leasing services. They serve the Chicago wide
market from their offices at 4040 N Lincoln Avenue. Their website is clean and
12. 9
efficient, and it is easy to shift through the listing and search according to the user’s
parameters. Elan Realty uses Zillow, Craigslist, Hotpads, and Trulia to advertise
their properties. They only allow walk-ins if there are agents available at the office.
They have an average 3.5 stars on yelp from twelve filtered reviews.
Experience
Dibbs met with Lindsay and Moby met with Mindy. The initial experience was very
unpleasant as we spoke to an extremely rude receptionist. After that we both got
referred to a realtor Lindsey, she did not answer our calls so we both left voicemails.
After the initial day of waiting, and receiving no reply to the voice mail, Dibbs called
the service again, this time around he got through to Lindsay. She answered the
phone professionally and after sharing with her the details of the apartment needs,
they decided on a time to meet the following day. She was on time and was very
professional; she picked him up from the apartment and then drove him to four
properties. These properties were excellent and exactly fit the criteria provided by
Dibbs. She was pleasant and she offered good advice about the market. She also
followed up through a phone call and left a voicemail.
Since Moby didn’t hear anything back from Lindsay after leaving her two
voicemails, Moby called Elan Realty again and the receptionist referred him to
another realtor, Mindy. She also didn’t pick up his call initially, but she called him
back within 5 hours after leaving her a voicemail. She didn’t sound very pleasant on
the phone because she was a little aggressive; however, she acted professional when
Moby met her and gave him a ride because of the rain. She was knowledgeable
regarding the properties and followed up promptly afterwards. But when Moby
expressed his disinterest in the properties later, the realtor did not reply back.
Analysis
Based on our collective experiences with Elan Realty we compiled the following
strengths and weaknesses.
Strengths Weaknesses
Professional in most aspects
Caring about the client’s needs
Pleasant demeanor and offering valid
advice
Labored initial response
Impolite front desk behavior
13. 10
Urban Lux
Our Rating: Zero
Summary
Founded in 2005 by Patrick Haman, Urban Lux is a luxury, boutique leasing
agency, specializing in upscale apartment relocation. Located in the River North Art
District, Urban Lux offers properties in a variety of neighborhoods on Chicago's
north, west, and south sides. Appointments can be made with agents by calling,
emailing, or filling out the online form on their website. Urban Lux advertises
through out Craigslist, while they have only one listing on Trulia. Public opinion of
Urban Lux is average leaning towards poor. With sixteen unfiltered reviews on
Yelp, they hold a rating of two and a half.
Experience
Well, we don’t think that Urban Lux knows the importance of keeping
appointments or the basics of a client and service relationships. We made numerous
phone calls, sometimes we went through to a realtor but we never could schedule an
appointment as the realtor would never follow up with the relevant information.
Dibbs spoke to an agent named Nelson, who promptly suggested that Dibbs should
email him and provide his information. It was as though the burden of
communication fell on the client and we had to cater to the needs of Urban Lux and
not vice-versa. After that we made other calls but to no avail. They utterly lack
professionalism and even lack common courtesy of following up with clients.
Analysis
Based on our collective experiences with Urban Lux we compiled the following
strengths and weaknesses.
Strengths Weaknesses
None Lack of professionalism whatsoever
General aura of disinterest
Failure to meet the needs of the client
in every possible way
14. 11
Rent Here Realty
Our Rating: ★★★½
Summary
Founded in 2008, Rent Here Realty specializes in finding apartments for a client on
any budget. With a large database filled with apartments in a variety of
neighborhoods and lease lengths, they cater to a wide variety of clients. They are
open seven days a weeks and take both walk-ins and appointments by
telephone. Rent Here Realty uses Craigslist to advertise their properties. The
public opinion of Rent Here Realty is good. Twenty-two unfiltered Yelp reviews
have them at four and a half star rating.
Experience
The experience with this firm was completely different for Dibbs and Moby. Dibbs
had a poor experience with this firm. Although, he got through to a realtor on the
first call, she mentioned that because the computers were down and that she would
contact him later. Thus, she proceeded to exchange contact information, so she
could provide us with different listings. This email with listing fitting the criteria
provided never arrived, and after a week, Dibbs received a text asking if he still
needed to look for apartments.
Moby had a good experience with Brian, the realtor. He acted professional over the
phone and email. He interacted with him during the showing and was the most
prepared realtor he met because he seemed to know almost every detail of each
property. He also showed his professionalism after Moby rejected him. Brian asked
Moby to give out his information to his friends who are looking for apartments.
Analysis
Based on our collective experiences with Rent Here Realty we compiled the
following strengths and weaknesses.
Strengths Weaknesses
Quick Initial response
Knowledgeable (Moby)
Politeness (Moby)
No follow through (Dibbs)
No appointment (Dibbs)
Computers were down
