News from "the front".

One of the questions repeatedly asked of Realtors is one about the state of the market in Georgetown, and the predictions of things to come. Well-informed Realtors can answer that first question with great certainty and with an unequalled view of the market. Predictions of the future are another matter.

Because Realtors are on the front lines of the real estate business every day, they know better than any other group of people (including economists, politicians and soothsayers) what the current state of the market is. Every article written in every publication about the residential real estate market is based on information gleaned from active Realtors...what's selling and what's not...is activity up or down...are prices rising or falling, etc, etc. Also every article is "old news" by the time it reaches us. In the case of the internet, it may be only a day or two old, but unless the article is being written by a Realtor, it is of necessity at least "yesterday's news".

But when it comes to predictions, my crystal ball isn't any better than Bernanke's. I, and other Realtors however, can make as good a guess about the future of real estate...and probably a better one than many. Realtors who are active in the profession, and who have lived through real estate cycles have a visceral knowledge of the market. Or maybe that's an intuition or instinct. In any event, it does give them a long view on a very specific industry which few outsiders possess.

1 comment:

  1. Assuming that you have the knowledge you speak about, why are Realtors so wishy-washy about their predictions?