If you want to be a successful real estate investor or professional, it’s a good idea to keep track of what influences the market and how it is performing. Things like interest rates, government budgets, and economic climate can influence buying and selling trends. The benefit of having the background knowledge is being able to assist clients to make informed decisions about pricing and timing as regards buying or selling.
If you have limited time on your hands, here are 7 easy ways to track real estate market trends.
- Monitor local and international news by subscribing to a national daily newspaper or relevant business magazine.
- Register to receive newsletters from property-specific websites.
- Subscribe to communication from companies that analyze and report on real estate data and stats.
- Let Google do the work. You can set up alerts using keywords relevant to your field of interest so that you receive the news you want automatically.
- Maintain a presence on sites like LinkedIn where you will be able to network with colleagues and find news relevant to your sector.
- Talk to your clients. You’ll soon pick up on any changes in buyer/seller sentiment in the local market.
- Keep abreast of sector news by staying in touch with your professional team of attorneys, property managers, mortgage originators, and the like.
This might seem tedious but it’s the best way to stay relevant in an extremely dynamic industry.
