It is intriguing to know that many people go into real estate investment and put their money immediately without taking out time to conduct market research and understand the current state of the market. Market research involves carefully investigating to properly plan and make strategic decisions with your investment.

What this does for you is to help you identify opportunities with very high potential, reduce your chances of running at a risk, and also maximize the returns you make in the investment. Market research also gives you an edge over other investors, giving you a competitive advantage. You stay ahead of other investors, and you make the best of opportunities as they arise. And an extra point would be that it helps you stay flexible in response to changing market conditions.

There are different types of market research that must be carried out. They include:

• Fundamental Analysis, which involves examining economic, demographic, and environmental factors.
  
• Technical analysis, which would take your market analysis to the point of trends, patterns, and cycles.
• Comparative Market Analysis will require you to assess alongside similar properties and market conditions.
• Location-specific research is necessary to determine local market dynamics and growth potentials.