Before you make real estate decisions, you need to examine market statistics. When it comes to real estate selling prices statistics, you must understand how statistics are derived. A knowledgeable real estate agent can thoroughly examine and accurately present statistics, which is quite helpful for home buyers and sellers.

Importance of Statistics for Home Buyers and Sellers

When agents work with home sellers, they examine comparable properties and take into account months’ inventory, sold price against listing price, and percentage sold. With such statistics, sellers can make informed decisions as they determine the listing price and helps them negotiate after they get a contract.

Meanwhile, buyers use statistics for making a thoughtful offer, helping their agent justify the offer, and deciding the final offer on a property. Also, buyers and sellers can use statistics when they look at overall trends in the real estate market within a neighborhoud, city, province, or region. Statistics do not make up the entire story in real estate, but they are a crucial part of the story.

Reasons Real Estate Statistics Matter for Agents

A successful agent knows the local market, but they can only stand out if they can present statistical reports compiled from dependable listing data. Their market reports allow them to explain significant topics, giving prospects confidence in them and helping them get the listing.

Moreover, an agent’s knowledge of regional and national market trends allows them to identify and understand local markets. However, home buyers and sellers must know the local market dynamics. A well-thought-out report allows agents to advice home buyers and sellers based on related data.

Attracting Sellers and Winning Listings

Real estate agents capture the attention of home sellers and win listings through the following:

• Before listing, sellers must know how the community values their houses. Particularly, they want to know if the values are rising. To give this information, agents must find statistics that show the average percent change in valuation. They must categorize this information by neighborhoud or zip code, so sellers know the way values are changing in their community.
• Total home sales. Home sellers must also be aware of buyer competition. A graph that shows monthly sales volume categorized by location is important. This allows sellers to understand what possible buyers are seeing and make better predictions of buyer behavior.
• Sales by age. Home prices are affected by a home’s age. Total sales statistics by home page can help sellers understand the bigger picture.

Jonathan Levenson