Final answer:
Stakeholders in choosing a comp set include owners/investors, managers/executives, employees, and customers.
Step-by-step explanation:
When choosing a comp set, there are several stakeholders involved. A stakeholder refers to any individual or group that is directly or indirectly affected by a decision or action. In the context of choosing a comp set, some stakeholders would include:
- Owners/Investors: These stakeholders are interested in selecting a comp set that can provide insight into the performance and valuation of their own property. They may be looking for competitors that are similar in terms of size, location, or market segment.
- Managers/Executives: These stakeholders are concerned with identifying competitors that can provide valuable benchmarking data and strategic insights. They may be interested in comp sets that have successfully implemented certain strategies or achieved specific performance metrics.
- Employees: While employees may not have a direct influence on choosing a comp set, they can benefit from the analysis and findings derived from the selected comp set. Understanding the competitive landscape can help employees make informed decisions and improve their own performance.
- Customers: Customers are indirectly affected by the choice of a comp set as it can impact the level of competition and pricing in the market. Customers may prefer a comp set that offers similar products or services at competitive prices.