Applying W. Edwards Deming's Principles to Residential Real Estate
This page documents how Novins & Street applies the principles of Dr. W. Edwards Deming to residential real estate. Rather than relying on isolated statistics or opinion, our methodology emphasizes understanding variation, interpreting evidence, improving decisions through continuous learning, and viewing pricing and marketing as interconnected systems.
A Deming Approach to Real Estate
Why Is Your House Worth More Than That One?
How Do We Know The Market Is Shifting
What Does A Market Shift Really Mean?
How Do We Know If Prices Are Rising or Falling before They Rise or Fall?
Who Benefits from Private Offerings — The Real Estate Firm — or The Seller
Why Comparable Sales Aren’t Always Comparable
Make Your Home a Magnet for Buyers
A Deming Approach to Real Estate
Our evidence-based approach was featured as a podcast on The Deming Institute’s website in an interview with Andrew Stotz. The podcast explores how Dr. W. Edwards Deming's principles can be applied to interpreting residential real estate markets to provide better advice to clients. The podcast page also includes a complete transcript.
How Do We Know the Market Is Shifting?
As described in the video, we use statistical process control to maintain control charts that distinguish normal market variation from s shift. Statisticians call that seeing the signal in the noise. When a control chart signals that the market is shifting, we examine the evidence to see how it should influence pricing and strategy. Markets shift in both directions, and it can happen multiple times a year.