NAR publishing bad data? Say it ain't so!!

By
Property Manager with Red Rooster Property Management, 904-469-6335 BK3161230

Gotta love this headline:

Realtors: We Overcounted Home Sales for Five Years

Article: http://www.cnbc.com/id/45659547

Being that I'm primarily handing property management, I can't help but easily ignore all this sales stuff, but as a broker/owner, I will eventually grow into handling much more sales.  Since starting my business last year, I have contemplated quitting my membership with my local MLS and, by default, NAR, since don't get too much rental/management from either.  But, I just hang in there with it, more out of duty to support my industry than anything else.  But, if our primary industry representative is going to mislead folks, no matter how minor it may be, I can't see the reason to have that support.

Someone, please help me make sense of this and tell me why I should or shouldn't continue my support.

Eric M. Boyd, Broker/Owner
Step One Realty, LLC
Jacksonville, FL
Jacksonville Property Management
http://www.steponerealty.com
(904) 469-6335

Comments (6)

Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Eric

This has been an ongoing complaint of all the other sales reporting companies for years. I believe this was the first year CoreLogic was so blatant about stating this and was one of the major prompts that made NAR finally change this. I agree with frustration with NAR. Unfortunately, being an broker, I am stuck due to need of the MLS and my company's policy.

Dec 14, 2011 05:42 AM
Carmela Jacobs
Carmela Realty - Thousand Oaks, CA
Ventura Co., Los Angeles Co., CA, & Global Realtor

Eric,

Thanks for sharing, this is serious as most of us provide market updates to our clients based on their data.  In a way it's best this came to surface, now that they have microscope watching their data, I'm sure they'll make it as accurate as possible.

Dec 14, 2011 05:47 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I saw this on DRUDGE today.  NAR has an ECONOMIST as it's head Executive Director * counting IS HIS BUSINESS.

This is a prime reason many do not trust NAR for their evidence of the market!

Dec 14, 2011 09:23 AM
Yolanda Hoversten
Self Employed - O'Fallon, IL
Referrals for O’Fallon, IL & the Metro East

Lawrence Yun tends to err on the side of wrong.

Dec 14, 2011 09:51 AM
Florida Management and Consulting Group Inc.
Florida Management and Consulting Group, Inc. - Coral Springs, FL
Real Estate Brokerage and Property Managers

Eric- Maybe they cannot afford to buy a calculator?   :)

Jan 09, 2012 04:02 AM
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado

May 25, 2012 12:35 AM