Using stats effectively can make you a better practitioner

Any good real estate practitioner must be able to inform vendors and purchasers about what they can expect from the property market, and many agents will seek to equip themselves with the requisite knowledge by gathering data from a multiplicity of different sources.

Despite such, some agents may feel at the mercy of the stats man; whether figures are positive or negative they invariably have the ability to impact on market sentiment, and therefore whether people choose to buy or sell.

Given such, some agents might find themselves ignoring statistics and focusing only on the fundamentals of real estate: confining each listing and selling according to isolated market conditions. Nonetheless, a holistic assessment of market statistics is always the best approach.

Truly proficient agents will gather market-relevant data from a wide range of local, national and global sources to identify and illuminate market trends, potential growth areas and “hot spots” for their prospects and clients. At the same time they will use statistics to shed light on the advantages, disadvantages and dangers of buying and selling at any given time.

Learning to use statistics effectively can ultimately help you to become a more proactive and well informed real estate practitioner, enabling you to find opportunities in any market situation and cultivate a reputation as a smarter, bolder and faster agent. 

Posted by Reality Bytes - Real Estate Training Blog on 01/08/2012 at 8:46 AM | Categories:

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