Understanding your environment and the factors that affect it are fundamentals for running your own real estate business. Take your morning commute for example. You check the traffic and weather to before leaving your home to see how they will affect your journey to work. If there is a car accident, you can plan accordingly.
In this article, I will address and make predictions about the 5 factors that affect your real estate business: the economy, technology, government regulations, consumer demand, and your competition.