The Top 5 Economists Real Estate Agents Follow

With so many opin­ions out there who can you trust to give you a real insight into what’s hap­pen­ing in the real estate market.

Well this should help, by fol­low­ing the most trus­ted eco­nom­ists in the real estate industry. These eco­nom­ists aren’t just spruikers or try­ing to sell some­thing. Their pre­dic­tions have been proven time and time again and are rel­at­ively con­ser­vat­ive. Don’t get me wrong you can’t be 100% right all the time, but I would say if you com­bine all their opin­ions you can be up to 80%+ correct.

Insights you will also get;

  • You will also get a nice broad out­look and get great insights into the sub­mar­kets that you’re inter­ested in.
  • This should give you con­fid­ence where you want to purchase.
  • Help man­age your own expect­a­tions from being out of sync of what is hap­pen­ing in the prop­erty market.
  • Auc­tion clear­ance rates will give you a marker of hell you should make an offer and for how much.

How to inter­pret economists

By gain­ing insights from these lead­ing eco­nom­ists it has per­son­ally help me make con­fid­ent decisions when buy­ing and selling prop­erty. Inter­pret­ing eco­nom­ists has helped me make over $200,000 in my per­sonal equity, and growing.

Bears and bulls

Basic­ally bears and neg­at­ive and balls are pos­it­ive. And after read­ing some of the eco­nom­ists and opin­ions out there you’ll be able to determ­ine how bullish or bear­ish they are. Take this into account when read­ing the com­ments, and yes, they can have great insights but they can also be pos­it­ively and neg­at­ively influ­enced by their own out­look in life.

But one eco­nom­ist said.……

Never take one of economist’s opin­ions in isol­a­tion. This could land you in big trouble as they can change their opin­ion in less than a month. So don’t freak out when your favour­ite eco­nom­ist said some­thing you don’t want to hear. They may be right in their opin­ion but if you com­bine all the eco­nom­ists and date out together you’ll get a more accur­ate out­look on that par­tic­u­lar subject.

Why only look at 5 economists?

Any more can be too over­whelm­ing to fol­low and research at the same time. I recom­mend you look at opin­ions they have given 6 months and 12 months prior to see if they were cor­rect. If you would do this with more than five lead­ing eco­nom­ists I can ima­gine you prob­ably wouldn’t do the research.

I have found these eco­nom­ists to be right, time and time again in their six-month out­look and even in the twelve-month out­look of the mar­ket. There are a lot of pro­fes­sional opin­ions out there. It is very time con­sum­ing to fil­ter all the spruikers and salespeople that are just try­ing to sell you something.

  • Dr Andrew Wilson is the Senior Eco­nom­ist at Domain
  • Tim Law­less, RP Data’s chief economist
  • Glenn Stevens cur­rent Gov­ernor of the Reserve Bank of Australia
  • SQM Research man­aging dir­ector Louis ChristopherProperty market economist looking into a crissal ball
  • Big 4 chief eco­nom­ist (con­stantly changing)

NAB

ANZ

West­pac

CommSec

I count them as one because they all move in one line, usu­ally one fall­ing in, one after another on most sub­jects. It may take some time but they even­tu­ally fold and say the same thing as each other so don’t freak out.

Take each one’s opin­ion as a grain of salt. If you take their opin­ions col­lect­ively their 6-month out­look can be very accur­ate but not so much their 12 month out­look. You can also get other insights into the mort­gage mar­ket which can help you get the finance/rate you want.

Bonus;

Check out Pete Wargent’s blog, he is very qual­i­fied and  an author of 3 invest­ment books.  He uses a lot of hard data to back up his predictions.

Sum­mary

I find by know­ing which mar­ket is at the top or at the bot­tom of the prop­erty cycle I can time my pur­chases with them, and then add on extra factors such as fol­low­ing infra­struc­ture for price growth.sign of the future -next exit-

Note;

Time in the mar­ket always beats tim­ing the mar­ket”  said Robyn Atkins, author and prop­erty mentor. In other words, don’t sit on the fence wait­ing for the mar­ket to come down for too long. It may never happen.

This also helps me nego­ti­ate with other agents and get a good deal. For example if it is a rising mar­ket in which I just pur­chased recently in,

I found I needed to buy prior to Auc­tion due to auc­tion clear­ance rates being over 75% in the mar­ket I was buy­ing In. This also helped me gauge my offer to real­ise I needed to offer 10% higher of what the recent sales were to secure a prop­erty in this com­pet­it­ive mar­ket. If it was in a down­ward mar­ket then I would’ve chosen a com­pletely dif­fer­ent strategy.

These are just some of the mar­ket insights that can prac­tic­ally help you secure your next prop­erty, in a solid mar­ket, that is pre­dicted for growth.

We all fol­low these eco­nom­ists in our office to help gauge what the mar­ket is doing in Sydney and in all of Aus­tralia and how it affects our mar­ket in the Seven Hills area. We need to know this because all sub­mar­kets such as a local area per­forms dif­fer­ently to the over­all prop­erty mar­ket. This helps us to give accur­ate prop­erty apprais­als and helps us plan for our busi­ness for the future.

 

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia