Do you want to succeed in Real Estate? You must know the market inside and out if you want to take full advantage of opportunities, and there are plenty of them. Many people are too busy with their own areas of expertise and family to invest the time and energy it takes to be a true market expert. This is o.k. The next best thing is to have the services of a true market expert close at hand.
There are between 24,000 and 26,000 Realtors in Minnesota, depending on whose numbers you use. The Governor said 24,000, I'm going with that one. So out of 24,000 options, I would suggest only about 2,000 - 3,000 really know what is going on in the market. The reason is because the vast majority (more than 20,000 agents are not up to date on the latest twists and market turns).
Moral: Find someone you trust and ask them the right questions: How many properties sold last week? How many of them were foreclosures? What is the average listing price-to-sale ratio? How many months (years!) of inventory are currently available in may areas of interest?
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