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  • 1. RE Tech Con CHICAGOLAND 2010 Peter Krause Co-Founder Terradatum
  • 2. RE Tech Con CHICAGOLAND 2010 Understanding & Communicating Market Data
  • 3. What Consumers Really Want?
    • Relevant Information
      • Supplied by a trusted source
      • Timely, Accurate and Actionable
      • Interpreted – “What does it all mean?”
      • Accessed anytime
      • Accessed anywhere
    • In short, they want it all!
  • 4. The Information Hierarchy
    • Data – these are the raw facts
    • Information - data with context
    • Knowledge – information that is interpreted and meaningful
    • Insight – the application of knowledge from a forward thinking perspective
  • 5. What’s Time Got to Do With It?
    • Data & Information – look to the past
    • Knowledge – looks to the present; past experience brought to bear on new situations
    • Insight – looks to apply knowledge towards future situations, i.e. intelligent forecasting without being clairvoyant
  • 6. Back to the Basics
    • MLS membership gives you a unique and privileged position from which to view your market
    • So use it to preview & track prices for all properties in your service area
      • Preview – means an actual site visit
      • Price Tracking – let’s you compare your initial opinions with reality; there is simply no better way to calibrate price
  • 7. The Power of Visual Information
    • Important relationships are easier to “see” and comprehend visually
      • “ a picture is worth a 1000 words”...
    • Visual “talking points” create a much more meaningful context for your market “story”
      • Clients can effectively “walk a mile in your shoes”…
  • 8. The New Information Paradigm
    • Good Information > Good Decisions
    • Good Decisions > Good Outcomes
    • Good Outcomes > Happy Clients
    • Happy Clients > Good Business
  • 9. AgentMetrics®
    • FREE to MRED Members