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Benefits of being a real estate agent: Data fix

By
Real Estate Broker/Owner with eXp Commercial, Referral Divison RRE-BRO-LIC-75443

The group is silent as the real estate agent cautiously rises, knowing every eye is upon her.  She takes a shaky breath and figures, "it's now or never" and she says those dreaded words, "Hi, my name is Kat, and I am a data junkie."  "Hi Kat," they respond.

 

So now my secret is out.  I love facts, in fact (!), I am data-driven.   

 

Being a data junkie is probably the reason I cringe when I hear any political ads.  The ad might say something like, "Joe Smo stated, "Women shouldn't vote"".  While many people might say something along the lines of they just KNEW it because Joe Smo is a demo-repub-conservative, I think, well, what are the facts? How long ago did Joe say this? Where was he? Who was with him? What was said right before this and what was said right after?  What was the entire context? How does he feel now? How many times has he uttered those words?  What has his opponent said on the issue?  I don't believe any ads tell the true story, and I don't feel many of them are backed up by data.  


So what does this have to do with the benefits of being a real estate agent?  

 

Successfully helping people buy or sell a house is heavily based in fact and data and timelines, all things that can be verified and measured.  What are the taxes? What do those taxes that include or not? How do those compare to similar homes? Should the taxes be grieved next tax cycle? What price should this house be? What has sold in the area recently? And at what price?  Are the bedrooms listed in the MLS listing the same as those in the town tax records? Did the contract get signed and if yes, when? And on and on.

 

And not only do we get to manage things like those data points above, but ohhhh, the monthly results! I can download a list of all the homes that sold, or the homes for sale, or the expired/pending homes, and analyze to my heart's content.  What's selling?  What style homes are most popular?  What is the % sales price to list price? How long were the homes on the market and is there a specific reason why, or is it just the market trending in a new direction?  How do the results in my town compare to the county in general?  

 

While this benefit of being a real estate agent might be a challenge to other agents, getting my data fix is, to me, one of the benefits of the career I have chosen.

 

"Hi, I'm Kat, and I'm a data junkie!"

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Kalispell, Bigfork, Lakeside and Somers areas. 

Are you getting ready to sell or purchase land or a home in Kalispell  or the surrounding vicinity? Let’s talk!

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Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Lisa - Hmmm, that definitely is an interesting idea.  I should see if there already is such a group!

Nov 02, 2014 07:36 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Kat.  Poor you.  The whole world at your door and you are in the corner crunching numbers.

Nov 02, 2014 07:36 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Conrad - Haha, no, I'm not stuck in the corner with my calculator and protractor! 

Nov 02, 2014 07:38 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Kat, I have been told that 25% of Realtors are addicted to data.  Of these 25% a good 70% excel at their jobs because of their market knowledge.  

(Just the facts - Mamm!)  

Nov 02, 2014 07:44 PM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Yikes!  I hate data.....probably because I can remember a damn thing.

Nov 02, 2014 07:53 PM
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

There is a lot that can be said about data and how it can be used Kat.

Nov 02, 2014 08:00 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I've always loved data, too. And, I wish I had access to the MLS just to see what is going on (just for fun).

Nov 02, 2014 08:07 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Kat - I am with you.  The facts do matter.  Educated buyers are your best customer. As Joe Friday used to say, "Just the facts ma'am.

Nov 02, 2014 08:20 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kat. OK, now that you have shared the truth, maybe I should come out as well. I love data, not matter where it takes me. Great job with your post.

Make it a great week!

Nov 02, 2014 09:37 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Gabe- Oooh, stop that!

Roger - That's not true!  You remember a lot!

Tom - I totally agree.

Debbie - Our MLS isn't as user friendly as I would like - I wish I could choose which data points to download - but it's still a wealth of information.  :-)

Grant - I know exactly who/what you were referring to!

Joe - I thought that was you standing up after I confessed!

Nov 02, 2014 10:31 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Kat, You know I'm right there with you.  As an engineer/agent, I thrive on the data, determining trends, being able to give FACTS to our clients.  And as far as political ads, they're all so lacking in substance that I don't trust any of them from either side of the aisle.  Bill

Nov 02, 2014 10:37 PM
Suzanne De Vita
RISMedia
Online Associate Editor

Kat, I keep meticulous track of trends, as well. You can't afford not to!

Nov 02, 2014 11:38 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Bill - ditto about the ads.  I just roll my eyes.

Suzanne - Agreed!  We can't afford not to know what's going on.

Nov 02, 2014 11:59 PM
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

Hi Kat... I never thought that data was one of the thing I loved about being a real estate agent... but guess what???   It is... I just took it for granted... thanks for pointing that out to me...  Happy Monday

Nov 03, 2014 04:37 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Richard/Beth - Hee hee, see?  We find out new things all the time!

Nov 03, 2014 06:25 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Wow Kat, I've never thought about it, but I'm a data junkie, too.  When's the next meeting? 

Great post - knowing context and as much info as possible sets us apart from the many that know 'the basics' or in other words, those who just watch the political ads and take them as they are served.

Nov 03, 2014 07:33 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

John - Wow, I feel like I'm responsible for all these data junkie awareness moments!!!!  :-)  Thanks for your comment.

Nov 03, 2014 07:55 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Kat

The facts work for your customers also . . . .

Good luck and success.

Lou Ludwig

Nov 03, 2014 01:26 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Lou - They do!  Facts are quite helpful.

Nov 03, 2014 06:33 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Pocket protector?

Nov 03, 2014 08:40 PM