The NAR lied about its sales statistics, but was it necessary?

By
Services for Real Estate Pros with Real Estate Faster

It turns out that the National Association of Realtors lied about the number of homes being sold?

 

How much did they lie about? They claimed 14% more homes were sold then what actually happened.

 

Why would they do this? They are trying to give the impression that the market is actually in better condition than it really is.

 

I believe it was NAR's hope was that by giving the impression of more sales happening, more sales would take place and thus become a self-fulfilling prophecy. Some would argue that such an impressions is neccessary for the protection of our industry.

 

I am not going to take sides on that issue, But...

 

We can learn a lot from this.

 

When a buyer is inside of my house, and is on the fence about moving forward, I try to do what I can to give the impression that things are moving and they must take action quickly or they can loose out on this opportunity.

 

Want specifics?

 

I run ads for rent even if I would much rather sell the property than rent it. Why??? Because it generates a lot of foot traffic.

 

The traffic is generating enough activity that I don't need to lie about numbers or even say anything about the amount of activity taking place. It is obvious to the prospective buyer.

 

Thier are many other things that one can do to increase the amount of foot traffic that goes to your property and subsequently bid up the price to sell your home for top Dollar. Check out my free video to learn more.

 

Posted by
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Comments (11)

Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

I can't condon out and out lying but I see folks point and they do what you need to do.

Jan 20, 2012 11:54 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

I'm not a fan of lying or implying something that is not true. To me they are one in the same. The fact is, a house can be on the market for 8 months and have no offers and suddenly they have THREE! It happens! So at any given moment, if you find what you like... you need to move on it!

Jan 21, 2012 04:23 AM
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Lied. I had not heard that. I saw a story that the numbers compilation was flawed. So what is the truth?

Jan 21, 2012 08:02 AM
David Artigliere
Reading, Pottstown, Norristown, Philadelphia - Collegeville, PA
ARTI Home Inspections, ASHI Certified Home Inspect

It's like they say in Economics.. economy is fueled by people's expectations and if NAR thinks this is the way to speed up sales in the market, I don't agree with that method.  They should report valid statistics for informational purposes.  Isn't it important to know how far we've REALLY come so we know we truly are doing better or worse and can adjust from there?  Your example of foot traffic is fine.. you are leaving other people to come up with their own explanations of what is happening around them... smart!

Jan 22, 2012 01:10 PM
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Wow, I can't believe the government isn't going after NAR on this one. If we had lied about numbers to get sales we would lose our license. 

 

Jan 22, 2012 04:44 PM
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Interesting that they would do that since we as Realtors have to obey all the ethics rules. Welcome to ActiveRain, Deven. If you need any help on Rain things-just contact me.

Jan 24, 2012 12:23 AM
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

I believe that their explanation was that the formula they used to report had become skewed in the wrong direction.  Whether they were lying for the reason of making it seem that the market was in better shape may or may not be true.  

Jan 25, 2012 05:32 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

I'm with Don, Who knows what their true intentions were.

Jan 26, 2012 08:53 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Monday morning.  Is this post really going to help your business as it is read by prospective clients?

Have an outstanding week. 

Jan 30, 2012 01:09 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; Spring is here in the Rocky Mountains

May 08, 2012 01:10 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Well, statistics is never an accurate source of data. Yet, we all noticed sale are up. So, that lie is not really far from the truth:)

 

 

 

 

 

 

 

 

 

 

 

Oct 25, 2014 08:15 PM