Most Important Stats Every Realtor Should Know About

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Most Important Stats Every Realtor Should Know
About
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The real estate industry is one of the most
booming businesses worldwide However, a
potential buyer would not like to invest in
hiring an expensive Remax approved supplier to
get the best value for their investment Thus, as
a real estate professional, you need to know how
to do market analysis Hopefully, with these
statistics, you will be able to get a deeper
insight into the market
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Stats every Real Estate Agent Should Know To Get
More Listings
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Home Sales Up/Down
The first and foremost stat is the home sales
value of a property in a particular month
Because of the dynamic nature of the real estate
market, the prices of the houses tend to increase
and decrease with time By comparing the current
prices with the previous year's prices in a
particular area, the agents can get a better idea
of the selling and buying opportunities in the
market
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Median Home Prices
The next important stat for every realtor is the
median home prices Note that you should check
"median" prices, not "average" Tracking the
median versus the average prices helps to
eliminate unexpected extremes on either end
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Affordability Index
The Affordability Index is the percentage of
gross household income needed to cover the
principal and interest of median-priced home
This index helps the realtors to anticipate the
speed and trajectory of the market.
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Mortgage Rates
The mortgage rates keep fluctuating every year
Therefore, it becomes essential to know about
the real estate agent statistics The mortgage
rates stats is helpful to communicate the impact
of mortgage rate shift on consumers
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Key Takeaway
Now that you know the most important real estate
agent statistics make sure to commit in learning
every core stat. Additionally, make sure to
have these stats handy whenever you meet your
clients By using these stats, you can develop a
pricing strategy that helps you win every listing
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