Average Days on Market. Average Number of Homes Sold. Average Commission. Average Listing Terms. It's all so Average nowadays. And that's not good. In today's market the use of an Average in real estate is fast becoming an antiquated tool.

We know it. Consumers know it. We need a new tool. As a species we've developed tools, refined the effort and later created a new device or methodology with better results. party maskSo why can't we shake Average?

The ancient Greeks and Romans relied upon bloodletting to purge the body of unwanted elements. One of those elements it turned out was blood.  

"Hi, this is Doctor Herophilus's office calling. Yeah, Kleptotheceles didn't make it. You can come by and pick up his body. Bring one of those new mop thingy's too."

Bloodletting continued into the Medieval ages.

The Hindenburg airship was filled with hydrogen, a highly combustible and volatile gas. The balloons we use for Open Houses are filled with helium, a relatively inert gas. Some houses should be marked with hydrogen balloons, however.

Everyone attached to these "hot" listings is going to blow up sooner or later. Me? I want to go up reaking of Jack Daniels and squeaking like Mickey Mouse. hdcThe Hindenburg blew up right here in New Jersey. Need I say more?

We find Average on our blog, in our CMA's.

Heck, I found "Average" scribbled on my pillow one morning.

I wasn't that bad.

At least I didn't find Simon Cowell behind a table in a tight T-shirt at the foot of the bed.

"Andrew, that must have been the most horrid performance I've had to sit through yet. Dreadful. The only good thing was the ending."

What say you Randy? "Naw, dawg. Not even close. It was that bad." ai

If you can devise a better metric or "number" to describe fluctuations in real estate prices, units sold, marketing time, compensation, then please educate the rest of us.

For now I'm going back to the garage.

I'm reeling from a splitting headache and just found a rusty corkscrew. The average cranks to penetrate my skull cap is 114. I can do better. Just watch me with this 16th century spyglass. To prevent yourself from losing your lunch, strap on this whalebone corset and synch it really tight.

On average it's a long and bumpy ride through a bad real estate market.

* * * * *

In New Jersey all real estate commissions are negotiable.

Are you thinking of a purchase or sale of Monmouth County real estate? Call Andrew, Broker and Owner of ANDREW J. LENZA REALTY, today at (732) 431-9003 to get you on the path of realizing your Monmouth County real estate goals. Or e-mail me or visit me at my company website.

Andrew J. Lenza, ABR GRI MBA 

Broker/Owner

ANDREW J. LENZA REALTY

73 State Highway 34 Colts Neck, NJ 07722

Office Telephone (732) 431-9003

 

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22 Comments on Bloodletting and the Hindenburg: REALTORS Need a New Tool!

I'll see your Jack Daniels, but I'll raise you to going with a Howl!!!!  If we all gotta go -- I want to be heard! 

Careful with that corkscrew.  I'd rather see you use it on a bottle.

04/04/2008 07:49 PM by Elaine Hanson, REALTORĀ® ~ Topanga, CA Real Estate Specialist (Pritchett-Rapf & Assoc. Realtors, Topanga)


Elaine, Silly girl. Trix are for kids. How did you think I got the splitting headache?

04/04/2008 07:59 PM by Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)


Andrew, I have to agree that the term "average" is used way to much. It is so over used that people are just becoming average.

04/04/2008 08:04 PM by Danny Thornton (Home America Mortgage, INC.)


Average, Average, Average. Aren't we all just Average Americans!!! Average People!!! Average Health!!! Dang I'm up to my average. LOL

04/04/2008 08:30 PM by Camarillo CA Real Estate Agent/ Mana Tulberg (Beach View Real Estate)


Andrew:  You're certainly nowhere NEAR average!  As a matter of fact, with writing skills like yours, who needs real estate?!  And, I just have to ask:  Is it average or normal?!!

         

04/04/2008 09:12 PM by Debe Maxwell (Helen Adams Realty)


Average? Hmmmm...I guess that just depends on what they are used to. That wouldn't be the word that comes to mind in your case. Have a teriffic weekend! I will be out showing houses in the rain tomorrow.

04/04/2008 09:56 PM by Lizette Fitzpatrick, Lexington KY Real Estate (Central Kentucky - Prudential Don Foster - Richmond KY)


Run of the mill, middle of the road, satisfactory....at least Average sounds better? Sort of Normal? How about adequate?

Headache??? It's all that bloodletting. No wait...that's what gets rid of it!

04/04/2008 10:26 PM by Joan Mirantz- Concord New Hampshire Realtor (Keeler Family Realtors)


Hi Andrew, I'm parked here to see what other words come up besides average because I have never wanted to be average.  That is just not something you aspire to be.

04/04/2008 10:32 PM by Marchel Peterson Spring TX Real Estate E-Pro ABR (Results Realty)


Well, I for one would like to find a happy median between average and extraordinary!

04/04/2008 11:13 PM by Ruthmarie Hicks (Keller Williams Realty)


Average is an annoying word.  I am going to replace it from now on with the graphic below...  shinnini

04/04/2008 11:41 PM by Sandra Carlisle, Realtor Newport Beach & Corona del Mar (First Team Estates)


Even those that are less than average are offended with the label of average.  The above average will average 200 when they bowl with your head after you label their property average in any manner.  The average handle the news in average fashion.  I average 6.8 uses of the term average in an average post, and the result?  ... sucks on average.

04/05/2008 12:37 AM by Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives)


Your article had me laughing first, then actually thinking for quite a bit.

I compiled another market report yesterday and didn't notice how many times
that the word average was used in the report.  Now I will be conscious of it.

How about typical?

Nah..that doesn't sound remarkable enough.  

04/05/2008 06:04 AM by Kris Wales-Macomb County MI Real estate (RE/MAX Advantage 1, Inc.)


Andrew ~~ I just looked at the numbers for my city before I read your post. I had the same though.  The current and potential sellers can look at averages but they need to understand how these numbers relate to other data.  I agree, we cannot rely on averages. We have to examine comps further and in more detail. Plus, we have to look at each comp's listing history and all price reductions, and whether there were changes in condition.  It all plays a role in timing, pricing and other terms when the sale finally takes place. 

04/05/2008 08:43 AM by Twin Cities Minnesota Real Estate - Marzena Melby (Counselor Realty, Inc.)


Mana, Your average privileges have been revoked for over use. Please see the clerk at Window 9.

Debe, Besides real estate and making peanut butter and jelly sandwiches, most of my life activities hover on the Line of Average. Occasionally I hit the right note in karaoke.

Lizette, Wear one of those garish Kentucky Derby floppy hats you folks seem to collect.

Joan, Average is this descriptive sink hole we get pulled into. I'm trying to avoid the word since clients are not given the real deal information they need.

04/05/2008 10:12 AM by Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)


Ruthmarie, I like median too. Fancy word.

Sandra, You go with shinnini -- so long as it isn's that other one grumenhexiar or some such nonsense.

Paul, Okay, you officially killed it. Morte.

Kris, The Tigers are 0-6. Time to write an above average blog about your boyz.

Marzena, Okay you win the award for MOST INTELLIGENT COMMENT, which considering your competiton here. I'll stop there. Congratulations.

It's so tough to write an enlightening real estate market report without over-relying on the term. You are on your way.

 

 

04/07/2008 04:00 PM by Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)


The great thing about statistics is that you can manipulate it. Averages and medians are often different.  Use the average and get one results, the median another.  They can lead to totally different conclusions. 

In one of my hiking books it rated local hikes based on "a$$ kicking" quality to the hike.  Maybe we could rate the market on a scale of 3-12 on how much it "kicks a$$."  Why make it 1-10 and be just like everyone else?

Me, I like to go to 11.

04/07/2008 04:16 PM by Melina Tomson, M.S. Salem Oregon Real Estate Specialist (Tomson Burnham, llc)


Funny.  I use averages all the time.  Probably because it's the easiest to understand.  Ranges would, no doubt be better.  But, I'll take average over the totally worthless median any day. 

In terms of performance, surely "average" is more desireable than "median". 

04/07/2008 04:27 PM by Lenn Harley, Homefinders.com, MD & VA Real Estate


Hi Andrew,

My thesaurus gives me  these synonyms:

middle, median, norm, customary, everyday, fair, mediocre, moderate, standard, tolerate, typical, undistinguished, ordinary, passable, unexceptional

So let's see....."typical" days on the market 

                      "customary" number of homes sold

                      "unexceptional" commission

                      "undistinguished" listing terms

Hmmm, maybe we should stick with average.  LOL!

 

 

04/07/2008 08:17 PM by Cynthia Tilghman, RealtorĀ® Onslow County NC Home Specialist (Kingsbridge Realty, Inc)


But you'll never hear anyone use the word 'average' about your incredible writing Lernza. Not ever!

04/07/2008 09:19 PM by Portland Oregon Real Estate Broker * Jennifer Bukaty * (RE/MAX equity group, inc.)


What's "average" anyway? An other notion to confuse the heck out of all of us. We all live on the "average" scale on the large scheme of thinks... or not? Bring me the Jack Daniels!!! LOL 

04/14/2008 12:25 PM by Arina Hanciulescu (ELITE REALTY)


Some days I would trade for average on the pillow...or nameplate on the desk...

04/14/2008 12:40 PM by Mike Norvell Sr., Developers Capital Realty (Developers Capital Realty, LLC)


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Real Estate Agent: Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)
Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker
Colts Neck, NJ
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