It's a great way to learn about all the terrific tools you can access and information you can obtain:
Which of your pages are in Google's index
Errors encountered on your site including broken links
Search queries that list your site as a result
Top 20 queries from which users actually clicked a link to your site
What sites link to yours
How to create and upload a sitemap
Set geographic target
Lots more!
This freebie is well worth spending some time on - it will give you a great deal of insight as to what is happening on your site and how to tweak it for better results.
Google's Webmaster Tools are SWEET! Kay, have you ever set the geographic target up? We were discussing the potentially negative effects elsewhere and trying to get feedback.
Ryan - I have set it up for local businesses, like an air conditioner repair business. I'm not so sure about a real estate site, though, since people from all over the world are looking for homes. Best not to, IMHO.
Hi Kay...I have Google analytics...I love it...it's pretty cool...I will check out this link..didn't know if it is a different thing than analytics..I am learning a ton from you..thank you
Yahoo has their own set of webmaster tools too. Frankly, I think that MSN and Yahoo are a waste of time. I accidentally get top rankings in both because it is so easy. For me it just doesn't seem to make a lot of sense to optimize a website "other" search engines though.
Kay, thanks for all of this info, Greek to me but I am learning. I subscribed to your blog and hope to learn alot. I used your widget and got a genius rating on my website, I guess I need to work on it. -Virginia
Kay Frenzer ~ Real Estate SEO
Check out the new 
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Thanks for sharing. It's a reminder to check stats on my newest domain. I truly hope my new site is now listed.
Vickie Nagy, http://www.besttrivalleyhomes.com/