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Real Clear Software Blog Post

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Vital to use experienced platforms and consultants when reviewing data.

Experience is vital in understanding how to interpret data

Experience is vital in understanding how to interpret data

The interesting thing about our modern society is that there is no shortage of information, data and technology for today’s real estate user. In fact, it can be said that we are on information overload. With a simple a few clicks and keystrokes any real estate user can easily find information on just about anything at any time.

Real estate users are no longer subject to receiving information that is filtered through brokers, which creates and interesting scenario. Some users see it as a vast expansion of “convenience, empowerment and instant enlightenment” with on-demand data, yet others understand that having the information is only one part of the equation. How a user interprets it, uses it and benefits from the information is a whole other situation.

For example, 20 years ago you could not simply look up the vacancy rate or the lease rate in a market out of state without having to contact a broker or engage a consultant for additional help. Nowadays you can find a vacancy rates, lease rates, sales comps and more for just about any place on the planet. But what does that information mean? Are those rates favorable to tenants or towards landlords, is market changing to favor sellers or buyers, are dramatic or passive, etc… Though statistics should be “non-biased”, there are “stories” behind them and reactions created because of them.

Just having easy access to data and information does not necessarily mean that it is easier to make informed decisions. It is still vital to have a consultant, or some means to interpret data thoroughly. Because there is so much data available it can cause “information paralysis” aka indecision or even worse – miss-informed decisions based on an incomplete interpretation of the data. Users can easily be consumed with an overload of information or biased versus interpreting keep predictive analytics or essential summaries. The ability to look at historical information and project future predictions is more critical now than ever been before.

It is important for users to know that when interpreting information, their platform and consultant have years of experience, insight, and understanding into what their client needs and is looking for. Simply stating statistics or regurgitating information that’s already known does not further the process nor help. Instead, analyzing and identifying key performance indicators and applying them to a user’s real estate and business plan is vital to their overall success.

Real Clear Software takes pride in seeing the whole picture and stands alone as a unique consultant and platform by applying decades of experience and insight into their process. For more information please contact us as we would love to demonstrate our abilities, experience and expertise.

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