MLSs Need to Move From Historic to Predictive Data
The data we use in the real estate industry to understand market trends and to help buyers and sellers in their real estate transactions is largely historic. Another way to look at that, is, it is dated, old news. We have real estate markets today that are changing very quickly. Changes may be driven by high numbers of distressed property sales, REOs, short sales, and foreclosures etc. or normal market activity but the results are the same. Much of the real market activity in the form of offers is currently invisible. This means there may be a huge amount of [...]