The most challenging aspect of gaining market knowledge is determining what facts to collect and where to find the information you need. Fortunately, a number of readily accessible resources are available to real estate agents. All you have to do is contact the right people and ask the right questions. The following sections help you on your data quest.
Before I became a real estate agent, in my early twenties, I was a racquetball professional. I played hundreds of tournaments over my sports career, and always my best games were at my home club. There, we had a court with floor-to-ceiling glass on the right side and back wall, making it particularly difficult to see in the back right-hand corner where the two walls of glass converged.
When players came for tournaments at my club, they struggled to pick up the ball in that corner, giving me a significant home field advantage. I rarely lost a match on that court.
Real estate is like any other competitive endeavor. If you discover all there is to know about your playing field, you acquire a competitive advantage that distances you from the competition and builds the basis of your success.
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The dynamics of investing can be very emotional and stressful if not properly managed. When you are aware of what is all involved you give yourself the power to avoid those situations or at least manage them effectively. That will make your investments more exciting, rewarding, and enjoyable. Those positive factors will only lead to greater success in all that achieve with investments and life.