Competitions and competitors in the real estate business are no different from other types of businesses because it can tend to strike fear into the hearts of many investors who are in direct competition with them.
However, Elizabeth Taylor, the Chief Operating Officer of Cosgrove, while divulging ample information about the concept of competition in an interview with Nneka Nwogwugwu, said that competition is good because “we see ourselves as Co-stakeholders in the market.”
How do you define competition in real estate?
Competition is a fundamental principle in any free market because it drives prices of whatever you are offering, it drives services that customers will enjoy and informs the milieu of choices available to customers. It is integral in the real estate to have some level of competitions but you have to segment the competitions based on the type of customers, their choices and earning capacity.
What is your personal perception of it?
My personal perception about competition is that, it is very good. People shy away from competition because of the negative things they hear, but I accept it because it makes you better and keeps you learning. It elevates quality of products that customers are getting and keeps the company on their toes. Competition also benefits customers in the long run because it influences prices and gives them a wide range of choices.
How does your firm deal with competition?
When people hear of competition, they think of the negative things that come with it but in Cosgrove, we see ourselves as collaborators. Cosgrove operates in a unique niche that provides smart homes that have automation built in it. That is what we project and offer our target market. For competition, that is the environment within which we compete. We don’t see ourselves as competing with other companies, we actually see ourselves as Co-stakeholders within the real estate market and we are contributing to the housing deficit in Nigeria. So in doing that, we are getting better by improving our unique designs to bring solutions in real estate housing in order to diminish the housing deficit in Nigeria.
What is your company’s vision in meeting up with competitors?
Our keyword in Cosgrove is disruption and our vision is, find out what our customers want and meet up with it. We deliver what our customers want within our niche which is to leverage technology in real estate. Our brand leverage technology because we want to enjoy the benefits that come with integrating building and technology. Cosgrove has a management team combined experience of over 120 years in diverse fields where we render services in real estate, financial services, and procurement.
Any campaign for the Yuletide?
Every day is a good day with Cosgrove, so I wouldn’t say because we always have one thing or the other going on. But recently we planted over a thousand trees at our estate in Katampe, Abuja, in order to elevate the living standards of our neighbours because when you talk of sustainable real estate Environment, Cosgrove is at the cutting edge of that. We also joined the Medicaid Cancer Foundation for the cancer walk. We do everything to be part of our community.