Most people do not understand real estate. Most real estate agents do not understand real estate for that matter. Many years ago I was a real estate agent in San Diego and can attest to that fact personally. I understood how to sell houses, how to negotiate, how to put a contact together. I knew whether the market was going up or down and I could even sense when things were picking up or slowing down. What I lacked, though, was perspective. I was so focused on my neighborhood or town that I missed what was really going on. I missed the large scale and long term trends that really dictate how the market is going. A global view is required for a person to even begin to call themselves a real estate expert and I have yet to meet a residential real estate sales agent who has a global view.