When I began my tenure, I was repeatedly asked the question, “Where are buyers coming from?” Being unable to answer the question, created the need for a solution that, I have to think, has been contemplated before.
Assessing Days on Market is equally of importance for prospective buyers seeking an edge. Not only can it indicate the level of competition within specific neighbourhoods, but it can potentially raise red flags.
All this information is shared with the public by real estate brokers and sales reps. Some people who are not in the business grab the fruits of all this work and demand that they be recognized as the experts in real estate.
Mr. Lee suggests the success of Uber is a red flag for our industry, that gatherers of big data will soon create platforms where buyer and seller will meet to finally accomplish what has been threatened for decades – disintermediation.
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