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STATISTICS for AGENTS EXPLAINED (real estate 101)

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

If you take this in school, strap in and get ready for a ride of a sort. Depending on how it is taught, it will take you out starting with your own thinking and soon after that confusion and doubt not to mention a strong desire to never visit this subject again. Why is that? Because how to use it correctly and simply escapes many.

IT IS A YARDSTICK...a measurement

Knowledge of anything is really a tool to be used to accomplish a task or move something forward. I like having what they call WORKING knowledge which is a type of learning that works without too much effort. That is what I am submitting here. We are randomly polling through observation. This is a personal statistic approach

NUMBERS SHOW THEMSELVES

Suppose you get a phone call on a listing one day from someone who says the color of your house will keep it from selling for top dollar. I now note that conversation as a statistic that is a person who spoke up in regard to a situation. That means in a community of tens of thousands of people, at least one spoke negatively about the house color. 1 in 10,000

A PICTURE FORMS

I will assign it a 1 out of 10,000 random position. Now, another person calls and says your curb appeal is lacking. Again, I assign it it similar position and now I am getting an idea at large what people are saying about the FOR-SALE activity here. Mind you none of them have to be correct or accurate. These are just random statements or statistics forming

WHERE THERE IS ONE...THERE IS MORE THAN ONE

The rule is that the ONE person calling in represents 1 in 10,000, then in a community of 50,000 one can calculate there are at least 5 more people that may feel this way too. It is an awareness tool to monitor your own business activity and become more tuned to your area or type of result

YOU GET AN BROAD IDEA AT LARGE

However, if the same report keeps coming up by different people, then you now have workable stats telling you that some adjustment or attention should be made accordingly and how people think or view this in this area. Keep in mind the same applies to any comments made including positive ones too.

PERSONAL OBSERVATION

Each person who speaks up represents a segment of society or buyers who feel that way. If is safe to calculate that if they do, then more than one will feel that way too. If one dabbles in this without making it to scientific or weighty with analysis, one can get a good feel based on their own experience of what is taking place around them

IT'S RANDOM SAMPLING TURNED INTO AN OPINION

Without feedback or input so that an item can be monitored statistics would suffer and fail to serve us. Asking for it or staying on the front lines and being hands on helps one come into it naturally. Now someone else may have their own stats going, but it should not be too far off from others for the same area or same experience

VISITS VERSUS CLICKS ON YOUR POST

Numbers are just a way of explaining, monitoring and capturing a situation and looking at it as objectively as possible to achieve a reasonable or optimum result or make a statement regarding same. For a further demo of "loose" stats, look at how many people visit your post versus click on it and it becomes your personal stats as well.

TWEAKING OR MONTORING OPERATIONS

Out of the ones who visited, what drove them there? Out of the ones who clicked, why did they? In Google analytics, they offer data that shows what page of your web site attracted a visitor and for how long. They also show on what page the visitor exited on as well. These are your stats to be used by you to do with as you see fit

Simple Math applications help bring clarity and perspective. I leave the E=MC2 for someone else

Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Richie- I vaguely remember my statistics class in grad school. It's fun playing with numbers. It's a way of applying something that is measurable to something that in reality can't be measure. 

Oct 10, 2024 06:10 PM
Richie Alan Naggar

That was very well said my dear Kathy Streib thank you

Oct 11, 2024 06:32 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Kathy Streib always says it well!  I should monitor my google stats more carefully! 

Oct 12, 2024 08:39 AM
Richie Alan Naggar

Kathy Streib ...knows things thank you. As for Lise Howe , she knows how

Oct 12, 2024 11:09 AM