I've been in real estate since 1984.  I've seen our association of REALTORS grow from a local board to a regional one. 

Now the statistics don't just reflect our market (Florence the county seat) but all the other little rural areas that revolve around it.  From Andrews to Wallace, all of these areas are now reflected in our numbers.

STATS FOR THE PEE DEE REGION
SOLD # SOLD AVE SOLD $ AVE DOM
June 2011  153  $127,761  170
June 2010  189  $129,622  117
YTD 2011  674  $125,017  145
YTD 2010  864  $128,100  120

What does that really mean to me?  If a buyer calls and asks me about a home in Wallace (yes I could google it or mapquest it) and I have never heard of Wallace or (insert the name of any other remote location here) am I truly representing that buyer's best interest by showing him or her a home in a town for which I have absolutely no frame of reference?

Wouldn't that buyer's interest be better served if I referred them to an agent experienced in that particular market?

By the same token, if I get a call from someone considering purchasing an investment property in Darlington, South Carolina, for almost $150,000, in hopes of renting it, and I know the 2010 average home sales price in their area was $115,520, am I representing their best interest by helping them with the transaction?

I think there are agents out there, given today's economy, that will help them buy a house, any house.  Tell me, is it just about giving the buyer what the buyer wants?  Or is it our responsibility to educate buyers when we think they're making a bad decision?   

 
LIST PRICE:
SOLD PRICE:
DOM:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT
$499,000 $13,000 $122,937 $119,000 $10,449,704 85
$455,000 $8,500 $115,520 $114,000 $9,819,273
661 0 107 71  
 

1 Comments on Are your stats even relevant?

JUL
14
2011
655,247 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Amy, I live in the Houston area which is huge. The agents who go all over the area amaze me as I just don't see how they know every area.  Personally for a buyer I will not go farther than 1 hour from my house. If it is a listing I don't go farther than 30 minutes; otherwise I refer.
11:35pm • #1


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Amy McCalman

Florence, SC

More about me…

ERA Leatherman Realty, Inc.

Address: 2180 W. Evans St., Florence, SC, 29501

Office Phone: (843) 662-0388 x 222

Cell Phone: (843) 260-4246

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