Meaningless Averages ...I am not average!

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

When real estate professionals get together, you know that numbers and statistics will come up. At a meeting in Scottsdale, John Featherston, President and CEO of RISMedia,Inc., said that 500,000 – that's more than 1/3 - of the 1.3 million Realtors® have never done even one transaction! Small wonder that the old 80/20 rule – 80% of the transactions done by 20% of the agents – is now more like 93/7.

This is a good example of why averages are useless. And it applies to realtors, housing prices, time on market, weather, you name it. The go-getters will go and get, and they are the 7% at the top of the heap. The people who "got into real estate" in the last couple of years to make a quick buck are still sitting around waiting for those big checks. Soon they'll move on to some other "easy money" job and skew the averages on that one, too.

Averages make great headlines but they are meaningless. If one person weighs 300 pounds and another weighs 100, they have an average weight of 200 pounds...but so what? If one house in a town sells for $80,000 and another sells for $800,000, the average price is $440,000 - but that doesn't mean the owner of the $80,000 house will get more, or the other guy less. It doesn't change their individual situations, and in real estate and life, it's the individual who counts and who makes a difference.

So glad I'm not average!
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Anonymous
Charles

Ms Rome,

The average weight of two people weighing 300 and 100 lbs is actually 200 lbs.

 

Oct 08, 2006 04:27 PM #1
Rainer
3,269
Steve Kersey ABR,CNE,CRS,GRI
West USA Realty Premier Properties - Surprise, AZ

And the better keep getting better!

See you in Chicago @ Floydfest

A place to learn how to be better than average.

Oct 08, 2006 05:36 PM #2
Rainmaker
311,469
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
858-777-9751
Charles points out that averages actually do have a place in statistics
Oct 08, 2006 08:31 PM #3
Rainmaker
613,042
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Margaret,

You're not average by any stretch of the imagination - and I don't need to do any math to figure that out! 

Oct 08, 2006 10:47 PM #4
Rainmaker
1,142,035
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Average! Well Magaret you know what I think about average. I jumped out of my box a long time ago. There are no averages in my world.
Oct 09, 2006 01:13 AM #5
Ambassador
2,959,019
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Charles, Thanks for the correction. Just checking to see if you were paying attention. :-)

www.HomeRome.com

Baltimore,Md

Oct 09, 2006 03:05 AM #6
Rainer
96,539
Karen Villa Schweinfurth
RE/MAX Northwest Realtors, Inc. 425-308-3669 - Everett, WA
ABR, CRS, SRES, CyberStar
Margaret, you are extraordinary.
Oct 09, 2006 03:32 AM #7
Rainmaker
177,557
Angus in Naperville IL
RE/MAX of Naperville - Naperville, IL

Margaret

In the classroom of life, you are the A student that screws up the grading curve. You raise the average.

 

Moo

Oct 09, 2006 04:21 PM #8
Ambassador
2,959,019
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thanks Karen, Sharon, and Angus, And Steve,welcome aboard! And Bryant, that box is looooog gone!

www.Homerome.com

Baltimore,Md

 

Oct 09, 2006 10:24 PM #9
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Margaret Rome, Baltimore Maryland

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