Learning about real estate market

3 Replies

Hello BP!

I'm an investor with access to MLS. I wanted to really get a feel for my market daily by seeing what is listed and how much they close for. Is there a way to do that without getting emails from MLS? Or is there another way you would recommend learning the market daily?

Not sure if this helps but I wholesale in Northern Virginia.

Thank you,

Josh

You don't need them emailing you multiple times a day. Schedule a time for you to go into the MLS, look at new listings, and follow up ones that you previously marked as interesting. For me, it has been important to concentrate on a small, consistent geographic area. That let me get to know what's going on, nearly block by block in the market that interests me. Consider setting up a spreadsheet in a way that makes sense to you to follow deals from listing, price drops and final price and date it went under contract.

@Josh Barrett So what kind of access do you have to the MLS? Are you an agent? I am an agent and I have a daily auto email that sends me any new listings in the specific county I invest in so I know everything that hits the market. You can also have an auto email set up to send you emails when things sell as well. There are plenty of ways to set it up.

@Josh Barrett easy peasy. Pull the area your targeting and pull all closed cash sales in the last 180 or 360 days and you can export that data to an excel. Another way is rbi market stats free for realtors or you can use rpr which is another free tool for realtors as long as you have a nrds #. 

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