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Pricing a Home? Local Data is Key

September 23, 2011  |  by Corey

As we at RBI have often stressed in our blog, real estate market trends are LOCAL!  Consumers are inundated with articles about the national market, so it’s critical that REALTORS® can speak with confidence about the hyper-local market and how it diverges from any national or even regional trends. Being able to answer the question “How’s the market?” is often the first test an agent must pass to gain credibility and the confidence of a potential customer.

Once that credibility is established, the next key test is in the all-important conversation about pricing. Steve Cook, of Real Estate Economy Watch, authored an informative article (geared more toward consumers) about factors to consider when pricing a home. He outlined several resources where consumers can go to gather information. The following paragraph about a particular source – real estate professionals! – summed up the primary basis MRIS had in creating RBI last year and the reason you should get to know us and our subscription services better!

“Your REALTOR®. Last but certainly not leas[sic] is your REALTOR®. One of the advantages of working with a REALTOR® is their access to excellent information on the local marketplace, especially market data, and a REALTOR’S® expertise interpreting the data. Increasingly multiple listing services are providing excellent hyper local data services to REALTOR®. Realtor members, like RBI in the Washington, DC and Baltimore markets.”

Click here to read the entire article. To learn more about how RBI can help you in determining list and offer prices, among other benefits, visit us at rbintel.com.

 

Posted in Market Statistics, RBI

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