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More than anything else, real estate is a knowledge business. You make a profit or endure a loss based on what you know–or don’t know–about local market conditions, along with the national and global economic influences affecting it. To that end, Lee & Associates’ vice chairman Ed Indvik recently spoke to GlobeSt.com about changing market conditions and what to expect for 2011. While Indvik is based in the firm’s Los Angeles office (Lee & Associates boasts a large California presence), the company also retains an office in Little Falls, NJ, which is headed up by co-founder, president and principal Rick Marchisio.

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