Data vs Knowledge

In real estate there is a sheer difference between data and knowledge. I consider data in real estate to be the information that is available on the computer. Examples of data would be the Multiple Listing Service, Zillow and statastics from the state, government and financial industry. Knowledge in real estate is knowing how to understand, explain it and use it in the best interest of my clients. In real estate, listings are input into the Multiple Listing Service which is given data from agents. The multiple listing service also pulls data from title companies, so information can be cross- referenced. Some of the areas in real estate where is data is being shared is companies are testing going paperless and allowing all information of a deal to be available to buyers, sellers, agents, escrow officers, loan officers and administrative staff. In the past, there is some personel information of our clients that is not always given to the other agents or other parties involved. An example would be if I was representing a buyer, normally I do not have access to the all the seller's information. Also buyers normally do not have information on sellers, as sometimes this could lead to buyer and sellers doning deals without the agents.

Real estate in the last years has become more of a data sharing industry. Recently a decision was made that will allow agents up and down the coast to California to have acccess to listings. Licensed California agents have always been able to sell anywhere in California, we just did not have access. As data has expanded, I feel knowledge sharing in on it's way. Agents have to work smarter and faster in today's market and we need to find ways to set us from the rest. Sometimes that is learning something unique from someone who has seen many, many years in the industry can save time or keep a deal together.

As far as know sharing, I heard something great at a class the other day-" Hang on the knowledge, people are smart and will find a way around it and do it better." Hoarding knowledge is not going to help anyone excel. I feel knowledge security still needs to maintain in regard to personal information in a deal. Really on the professional should have access to everything.