Too much information? Find an expert.

At one time people had very limited access to information. Publishing and distribution were costly. Access to that info required research and a trip to the local library or town records office.

Now, with the ease of digital publishing and data aggregation, the problem is no longer access to information. We each have access to more information than any of our ancestors could have imagined -- and we can access it 24/7 via the phone in our pocket! The problem today is the quality of information. Now that anyone can become a publisher, nearly everyone has. Gone are the days of citing multiple reliable sources, and many sites use rudimentary algorithms to?interpret data.

Here are two key examples of how more information is not better in real estate:

• The property search is difficult -- You would think that, with easy access to data-filled indexes of available homes, the search would be easier. Well, not so. This is from the National Association of Realtor's Survey of Homebuyers and Homesellers: "For more than half of home buyers, the most difficult step in the home buying process was finding the right property at 55 percent."
• Pricing is very tricky — Zillow's Zestimate has been a very popular tool among consumers and a major challenge for some agents. On average, the Zestimate isn't far off. "The Close" recently took a closer look at the Zestimate and this is from their article: "If you ask Zillow, it’s very accurate. In fact, Zillow boasts a “nationwide median error rate” for on-market homes of 2.4%. However, for off-market homes, the error rate is more than three times that rate, coming in at 7.49%." But, when studies have tracked individual properties, they have seen sometimes a 10% or higher difference between the Zestimate and the actual market value.

So, if the data online is sometimes problematic and overwhelming, how are younger generations beginning the process? Interestingly, at 89% the 22-29 year old age group is using real estate agents as an information source more than other generations! This is astonishing, when you consider that they are the most adept at using online resources!

When there is too much information or the information is conflicting, one should work with a skilled advisor. An advisor is a curator and a guide; someone who can find accurate data and help you interpret it. This is the way I also see the role of financial advisors. They are there to cull through the enormous amount of data to help each client decide which are the right investment vehicles for them.

So, what do we do with this information? As agents and real estate professionals, we need to lean into our expertise. We can help people in our lives to cull through the available information to understand what is accurate and what is relevant to them, their community, and their home. Here are a few examples:

• Share what is changing locally -- maybe it's new zoning rules, tax rates, or other information. You can be "the source of the source" -- in other words, don't pretend to be the expert, but share info from the expert
• Share recent sales that have happened in their neighborhood and if it was a "hot open house" or another metric that gives them a sense of the market temperature
• Share local market data -- either the town or the neighborhood that is most relevant to those you know
• Contrast and compare that data to the rest of the country -- this helps them see how to interpret the national news stories about the market
• Put the current news in historic context -- unfortunately, many news organizations sensationalize the data. If you put it in historic context, people can understand what to expect in the market cycle.

In the final analysis, when there is unlimited information, expertise matters more than ever.