Professor James Graaskamp often asserted that when one buys real estate, what one is buying is a set of assumptions about the future. Therefore, it is not surprising that the beginning point of the market research process is to:
A) collect relevant data to examine the market and test initial definitions
B) evaluate the results of market analysis
C) construct a market-defining "story"
D) refine market definitions and collect additional data

Question

Quizplus · Accepted Answer

Constructing a market-defining "story" involves outlining assumptions about the future of the real estate market, which aligns with Professor James Graaskamp's assertion that buying real estate is essentially buying a set of assumptions about the future. This step is crucial as it sets the foundation for further research and analysis.

Professor James Graaskamp Often Asserted That When One Buys Real