"Lies, Damn Lies and Statistics" c/o Winston Churchill or Ben Franklin

Chad, Chad, Chad

I've spoken with THOUSANDS of prospective home buyers over the years and I've never spoken with a single one who understood the meaning of the word REPRESENTATION from them.

About 3-4 times over the many years, I've heard the term BUYERS AGENT.

What I do hear over and over is the word AGENT.

Actually, what I hear most is "we would like to see. . . . .  "

Those are the facts.  No survey to illicit a desired response.  No querry of prospects.

Just the facts.

Chad, you stated that "Forty-four percent of buyers found the Realtor they worked with by referral from friends or relatives."  I am surprised that the statistic is that high.  Particularly since buyers or sellers don't use the same agent again.  Loyalty doesn't seem to be important.  We live in a disposable society.

It was Mark Twain who said that.  But, it's doesn't matter, the point well-taken.

I like Deborah Wilson's comment above and tend to agree with her on it.  Loyalty, theres not much of that in this game, and yes....we are a disposable society!!

Patricia

Well, on a positive note, after dealing with an agent who kept trying to put me in a house I knew I could not afford, I found an agent who represented me when I bought my first house, sold that house and bought my next house. They took my best interests to heart and earned my loyalty and respect, so much so, if I sell again, guess who I'll be calling...

As with any industry, you have the good and the bad. I find that often times people are much more willing to remember and promote their bad experiences over the good. Take heart Chad - perception may be the norm but it's usually not reality.

Interesting to note in reading your stats, used car salesmen weren't mentioned. That surprised me.

I think surveys sometime confuse the issue.  NAR does not always get it right.  Imagine if they ask the wrong question.  It would elicit the wrong response, and that could present a huge set of problems.  Baylor University has done quite a bit of work on Real Estate related issues.  I would corroborate the NAR studies with the studies that Baylor has done. 

I think you are right to note that the largest group of first time home buyers was the 25-34 yr old age group. As a professional home stager, I definitely take that into account when determining how I will spend my time marketing my company. I'm a lot older than that, but I am using the technology and social media that that age group uses to reach out to them. I have gotten several jobs via Twitter and Facebook. A recent 30 yr. old client who worked for Google  said he chose me because I really understood the importance of  on-line presence and marketing.

I've heard about the negative perception of real estate agents before. In February I celebrated my 2nd year as a full-time real estate professional. In that time, I've metvery few agents that would warrant that type of negative opinion. I don't see it.

Surveys are like good lies - they have a little bit of truth in them! LOL!

No, seriously. We still have work to do on the perception of being honest and ethical. I don't know if that perception will ever change. But what we have to do is explain to our clients what we do and how we work for them and represent them. A lot of the perception is down to the fact that clients don't see what we do and therefor don't understand what we do. All they see is us getting our checks at closing. And if you don't communicate than that's all they think you did - get paid.

Interesting stats!  I have a pretty good rate of repeat clients over the years & they send me referrals!  I think the secret there is staying in touch!  People don't care how much you know, until they know how much you care!

I once say a video of a survey that was conducted.  Overwelmingly those who were interview has a low opinion of real estate agent, but has a very high opinion of their own real estate agent.  That is the reality.  Become the agent that people know and you earn the high regard.  Most of these respondents said that their agent was referred to them.

From Wikipedia: "Lies, damned lies, and statistics" is a phrase describing the persuasive power of numbers, particularly the use of statistics to bolster weak arguments, and the tendency of people to disparage statistics that do not support their positions.

The term was popularized in the United States by Mark Twain (among others), who attributed it to the 19th Century British Prime Minister Benjamin Disraeli (1804-1881): "There are three kinds of lies: lies, damned lies, and statistics." However, the phrase is not found in any of Disraeli's works and the earliest known appearances were years after his death. Other coiners have therefore been proposed. The most plausible, given current evidence, is Charles Wentworth Dilke (1843-1911)."

I am thrilled to beat the lawyers but disappointed to come in behind the bankers, given the Wall Street shenanigans over the past year.

I believe "statistics", the same as "words", can be skewed to show or say whatever your intent is to show or say!

I also believe that for the majority of us in this business our integrity and service mean a lot and we always strive to do better and learn.

Sue of Robin and Sue

We take for granted the world we live and breath in..... I am talking about the Real Estate world. You think the other person (outsider) gets what you are saying all the time?. Not so....they just nod their heads and do not want to risk embarrassment. Later on, when polled, they tell it like it is. What then?  Go slow, check in with them as you go, and repeat where necessary. People recognize caringness, patience and genuineness if you put them out there! Thank you Chad for allowing me to express these thoughts in your delighful post!