Market Survey Tools Program and Data FAQs

Below are some frequently asked questions about the benefits of our Market Survey Tools program and its use for apartment communities.

  1. Does the Market Survey Tools team do the secret shopping of my competitors for me?
  2. Our program is only $54.99 per month per property (and we have price breaks for properties under 100 units so ask for a quote at www.spherexx.com/quote). For $54.99, we cannot provide hours of secret shopping along with providing a 24/7 software program that crunches all your survey data into actionable analysis.

    Market Survey Tools was built around your onsite team doing the secret shopping of their own competitors and then they enter that data into our web-based Market Survey Tools. This replaces the excel data entry that most companies use today to collect survey data.

    We have other options available should you want us to handle your secret shopping of your competitors floorplan pricing, so please email us at and well present you with some other options for us to populate your surveys. It is a cost in labor for your onsite team to secret shop and its a cost in labor for us to do the work.

  3. We have a lease rent optimizer program that sets our prices for us; why would we need a market survey at all?
  4. Many of our clients use MarketSurveyTools.com along with RentPush, Yieldstar and Rainmaker LRO revenue management and there are many reasons why.

    Accuracy - Revenue management programs like RentPush, Rainmaker and Yieldstar base their price setting recommendations on regional averages archived in their own database; therefore your pricing is primarily calculated on regional averages and secondarily on competitor pricing data that has been also averaged into common types and sizes of units. The revenue management system is only as good as the information submitted. MarketSurveyTools.com equips management teams to gather, refine, and validate accurate pricing and promotion data for the best possible pricing decision.

    Knowledge - Knowing your neighborhood, metro and regional competitors is vital information to establish optimum pricing and minimal discounts. No broad-based average can take the place of having detailed pricing information with subjective insight on how to maximize pricing structure and still remain competitive.

    Accessibility - MarketSurveyTools.com also makes survey data available for immediate reference through SweetSpot, which is included in the MarketSurveyTools.com subscription. Via SweetSpot.ws, market data is always close at hand on your iPad, laptop or notebook, or stationary desktop. Use market data as a closing tool when you tour your community and show your prospects that you are an expert in your field.

    Tutorial - MarketSurveyTools.com has a built-in, virtual assistant option that directs secret shopping steps and makes sure all points are covered; and if you get interrupted, you will always know where you left off without wondering what you might have missed. It also has a library of current, market related articles and reports that shows the economic trends by national, state, city, and property type relevance. Your owner/investor/corporate narratives become easier and faster to complete with greater accuracy using MarketSurveyTools.coms library.

    Projections - MarketSurveyTools.com also provides advanced reporting and archiving features that allows regional managers to tap update activity as well as precise historical data. It includes a What If Assumption Matrix projection tool that assists in anticipating price increases or decreases. This feature self-calculates, making quarterly and annual income projections easier and more accurately.

  5. Does MarketSurveyTools.com provide competitor pricing in our subscription?
  6. Competitive price shopping is a masterful art that MarketSurveyTools.com teaches through the nature of its analytical process. We do not provide competitive pricing for your property; we equip users to gather and maintain pricing data by which they can make intelligence pricing decisions.

    MarketSurveyTools.com provides information sharing in a snap, historical pricing at a glance and outrageously gorgeous reports that share market impact information instantly with owners, investors and decision makers. MarketSurveyTools.com also provides a walk-though shopping system that makes even the junior agents a whiz. Plus, we provide a series of optional reminders that keep users on track with their marketing deadlines.

  7. Won't it take a long time to get all my marketing data set up and ready to go?
  8. Not at all, that is why we do the set up for you, whether you have five or fifteen competitors. Send us your current survey data and we enter it into your MarketSurveyTools.com account. If there is information missing in your current data, we will set up a reminder for you to add that information to make your survey more effective.

    We also set up your customized amenity option by company so you can request as many special features and details as you like.

  9. Are there any security levels in MarketSurveyTools.com?
  10. Yes, the program lets decision makers establish who has access to the program according to security levels that are preset with specific limitations. For instance, the property manager can assign permission to a data entry level user to access certain areas of the program. This feature protects your account from mischief and loss. Additionally, ever login is recorded in MarketSurveyTools.com.
  11. How do I know if I missed something on the report?
  12. MarketSurveyTools.com has an alert function that lists missing report data when a report is finalized. The alert is also sent to the upper level management users so they can follow up any vital information that needs to be added or edited.
  13. How will I learn to use MarketSurveyTools.com?
  14. We provide a one hour training session for all users and we are always available to answer a question just by clicking our REPORT A PROBLEM link at the bottom of the pages. Our Help Topics are very useful and there are instructional videos on every page.
  15. Does MarketSurveyTools.com have other learning events?
  16. Yes, we do training sessions all through the year on "How To Secret Shop Tips and Tricks" and "How to Use Our 'What If' Tools To Determine What Amenity Based Pricing Could Do For Your Property" and regional and corporate level seminars on "How To Use Market Survey Tools in Due Diligence Takeover Analysis".
  17. Do you have a written document on how to use MarketSurveyTools.com?
  18. We have a Quick Reference Guide that proves to be very helpful the first few times you use MarketSurveyTools.com. However, the program is so user-friendly and intuitive, after the first few surveys, you wont need the guide.
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