All the talk these days is about AgentMatch. For those of you who have not heard about AgentMatch, it is a program designed to rank agents using MLS data. While this seems like a new idea it has been tried in the past.
Redfin and the Houston Association of REALTORs® both tried to launch agent ranking programs. The pushback from agents and members was so strong that both dropped the idea.
Move Inc (the company who operates realtor.com for the National Association of REALTORs®) claims this concept is being demanded by consumers and they are looking to satisfy the need. Move asserts that consumers are demanding transparency.
I don’t have a problem with publishing my statistics. What I do have an issue with is trying to assign me a rank based upon that data. The data from the MLSs are not complete with many agents belonging to more than one MLS, non-MLS sales, new construction, etc.
Interpreting the data is even harder. An agent who does lots of short sales is going to have higher Days on Market (DOM) than an agent doing traditional resales. REO agents will have lower DOM and a List to Sales ratio above 100% because of the pricing methodology used by many banks.
The right idea may be a mixture of published data and consumer reviews listed on each agent’s profile page.
In the rush to be transparent, we need to slow down and get it right. Publishing statistics is one thing—ranking agents is another.
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