Tips To Help You Learn Your Real Estate Market.

When I was new - many years ago, my broker told me how to learn my way around - pick a neighborhood and see how much I could learn about it.   (This is on a much smaller scale than your list, of course.)   I was so new to the area that she suggested a neighborhood for me, and Hillandale eventually was my home, as well as my special love.   There's a serendipity story there.   (See my very recent post, http://activerain.com/blogsview/2688414/serendipities-let-s-start-a-group-to-share .) 

This is a very useful list.   Thank you.  

Right on my man, great post!  Confidence comes from knowng your market and helps you sell more houses, lol.

Not only are you damn sexy, you are an intelligent, erudite fellow as well. Excellent summary. You have to drill deep. 

There is stuff beyond the numbers too, and you get it from doing business. 

Awesome list Bryant.  I will bookmark this blog to follow up on.  I need to work on my reports.

These are great tips that a lot of people, myself included, need to harness and focus on constantly!

Thanks for sharing!

Our business requires constant learning, in order to stay ahead.

Good post, thanks for sharing it.

Hi Broker Bryant - This is a superb list of questions that agents should know the answers.

Yep. These are the right questions BB. Knowing the answers to these questions is what sets us apart from the rest. It's really not rocket science, just a lot of research.

All the details of properties... what's listed, for how much, knowing that one just had a price reduction. And even recalling details on listings you sold years ago so when they come again for sale, you have back ground, experience and expertise to share. Recall, all the little details that many wonder how you do it, it's done because you are in the right profession. Love what you do. And hustle.

AND, preview, preview, preview.

Bryant, real estate is very local and knowing the local market means you have the facts.  That's important for any professional.

Hows the market.  I think the most important thing in your post was calculating the absorption rate of properties sold on a multi time frame analysis,  Thats the only true way to determine the direction of the market.

Good luck

Greg Gillespie

Reblogged with this intro...

All those market reports we do get us well prepared for the data we need to know right off the top of our heads.

BB - I also try to stay on top of proposed zoning changes, developments, and local news.  Running a community blog forces me to stay on top of theses things, so that I can report them. 

Previewing in my earlier days have given me a ton of leg up in the market when compared to other agents who do not. These days, not so much time to do so, but on the hold, I'm seeing alot more houses (just with clients) too these days.

Bryant... you have given lots of excellent ideas.  But one thing I was surprised you did not mention... was actually getting INSIDE of as many homes as is reasonable.

I think a great thing for a newbie agent... in addition to learning the things you suggest... is to preview perhaps three homes each and every day... or maybe every other day... depending on what works.  I only say three rather than five or ten because to look at too many... just for the numbers... well, for many Newbies... they all tend to run together if you try and see too many.

I have also used the "preview" idea when I am out with buyers and we have scheduled homes to see, and we come up to one, and the buyer says... "nope... I don't want to go in."  I will at least try... and say... "well, could you do me a favor and go in... just for me.  Seeing homes for me is the best way I can keep my knowledge of the current market up-to-date.

They usually say ok... which gets both of us into the home... and also does not tick off the seller by us not showing up.  Just some thoughts...

Lots of great information that you've provided and I am following your expired listing advice. Thankyou.

Great list - I also try to preview as many homes that I can.