Residential real estate information resources are important for all of those who work in the real estate industry. With the right residential real estate market research, you can help customers to buy or sell homes.

In any economy, it's important to know how to price a home that's for sale. Setting the price too high could lose potential buyers, while setting the price too low upsets the neighbors by bringing down the neighborhood's value. Fortunately, you can use residential real estate research to find the price.

You can use residential real estate information resources not only to set the price of the home, but to:

1. Understand sales trends. If you know the real estate sales history of a neighborhood, you can give the customer a better idea of how quickly their home may sell.

2. Sell the neighborhood as well as the home. Most home buyers are looking at more than just the house. They want to see if they'll fit in with the neighbors. Residential housing information often includes additional information about the surrounding area.

3. Beat the competition. When you have a well-rounded approach to residential real estate, you make both buyers and sellers happy.

Action Steps
The best contacts and resources to help you get it done

Sign up for a newsletter to receive residential real estate information

With a newsletter subscription, you can easily stay current with the latest information. Let writers do the hard work for you.

I recommend: Realty Times offers an innovative video newsletter to help your business succeed. With a membership at Inman News, you'll get weekly industry newsletter, special discounts and the ability to reprint any articles in your own publications.

Purchase reports on residential real estate research from leading market research firms

Many people find it difficult to interpret a stack of data. That's where market research firms come in handy. They will collect data specific to the real estate industry, then interpret and present it in an easy to understand format.

I recommend: Hanley Wood Market Intelligence offers several publications that include with residential housing information. Colliers International also offers publications for sale, including both U.S. and global housing information.

Join professional organizations for access to exclusive info about residential real estate

The Internet means that consumers have more access to information about homes than they've had in the past. This allows them to research homes and neighborhoods before they set foot in a real estate agent's office. You need to have access to information that consumers don't have.

I recommend: When you join the National Association of Realtors, you gain access to an enormous amount of information, including promotional tools, educational tools and other things that can help your business. The National Association of Independent Real Estate Brokers is another excellent organization that can help you network and gain more educational opportunities.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Give consumers the tools they need to conduct their own residential real estate research if they want to. This saves you time and helps you come off as a trusted friend rather than a predatory sales person.