Empirical data or gut feeling? Which do you rely on the most?
ARE WE DROWNING IN TECHNOLOGY??? But, what does your gut say???
After attending a class this week where 4 full hours of instruction was for gmail, I'm inclined to say YES!!
Richard is so right. Experience is still, IMO, the best teacher, guide, framework, example, etc. with which to conduct our daily real estate business.
After all, I haven't yet seen a listing report, e-mail, e-flier, statistic, photo or anything else that will tell us WHAT A HOUSE SMELLS LIKE.
Interpreting CMA reports is going to be far more accurate when the prospective listing agent knows that community; the original builder, sales trends over some years, nearby amenities or lack thereof, and more.
Go with your gut. Your gut will get smarter with each transaction.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
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As a real estate professional, it is my job to know my market and to understand it. And in the course of doing my job, I have seen thousands of homes for sale.
Maybe the number is more like tens of thousands of homes for sale. Rest assured, I have been in a lot of houses that are on the market.
I do a CMA (competitive market analysis) prior to a listing appointment which provides an excellent source of empirical data that can be used to determine a range of pricing.
But the minute I walk into a house, my gut immediately takes over and my internal calculator starts the tally. I know all of the selling obstacles and what buyers are looking for in a house in that neighborhood.
And after touring the house and as we sit down to discuss the pricing particulars; I have a pretty good idea of where we need to be.
If the truth be told, I rely 75% on my experience and about 25% on the data. Blind data doesn’t “see” the house the same way that I do.
How about you? What do you rely on the most when you are pricing a home?
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