An agent's guide to market literacy 101

How to know what's coming next
  • In today's information-obsessed culture, truly valuable real estate professionals have the ability to tune out the noise and evaluate the market from an objective perspective.
  • Analyzing reputable statistics, graphs and numerical facts is the place to start when beginning to understand how different economic factors correlate with your industry and affect your business and your clients.
  • Observing your industry from a 10,000-foot-perspective will prove invaluable through market fluctuations.

In 2005 and 2006, the market in just about every asset class was booming. Everyone was getting rich, and very few people saw the end of it coming. But those who took the temperature of the market knew that things were too hot — much hotter than they had been in the recent past.