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Normal is just the average of the extremes!

By
Real Estate Agent with Progressive Realty (Boise Idaho) www.Progressive-Realty.info DB-17066

One day as I was relaxing enjoying a beer after work and I overheard a question on the other side of the bar:  "What is normal anyway?" 

I really wasn't evesdropping, but for some reason that question came across crystal clear.  Out of nowwhere, the answer popped into my head and I responded "It is the average of the extremes!"

That sparked quite the conversation.  If you ever studied statistical analysis, you probably are familiar with the bell curve and standard deviations.  

Bell Curve and Standard Deviations

As the graph above shows, one standard deviation encompasses 68.2% of the entire sample.  When you go out 2 standard deviations, it included 95.4%, leaving only 4.6% that are more than 2 standard deviations from the norm.  

What I figured out that night was that if you have a person that is -2 standard deviations from the norm and then add a person that is +2 standard deviations, then the "average" is back to normal.

 

In summary, what is normal anyway?

 

BTW, I am proud that I am not your "Normal Realtor".  If you are looking for an agent that understands marketing, negotiating, business strategies, communication instead of someone telling you it is only about price or sq. ft. - give me a call!

 

Comments (33)

Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Jim,

Love the nerd logic here. Between the two of us, we are probably as normal as can be.

Feb 09, 2017 08:34 PM
Jerry Lucas
ABC Legal Docs LLC - Colorado Springs, CO
Notary Training, Consulting. Colorado Springs, CO

For a simple video explanation of abnormal, Dr. Frankenstein gave a demonstration in this educational clip from the movie Young Frankenstein

Feb 09, 2017 09:06 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jim Paulson - being normal makes us an average Joe or Jane! And that's where we differentiate us from others.

(And you reminded me of my Statistics class during my engineering….lol!)

Feb 09, 2017 11:23 PM
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

Great point!  Averages are interesting, but not always helpful.  Just like house prices,  One needs to understand what the numbers mean...and we all know you can present numbers in a variety of  manner to make your point!

Feb 10, 2017 04:37 AM
Jim Paulson

Thanks.  I call your last comment "selective perception" in which you select what you want others to perceive. 

Feb 10, 2017 09:08 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If you choose to beleive it...this post is not normal

Feb 10, 2017 07:29 AM
Jim Paulson

Thanks!

Feb 10, 2017 09:09 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The definition is right on, but then again, I have yet to see anything ear normal that is always close to the same month after month

Feb 10, 2017 07:34 AM
Jim Paulson

The only thing constant in the world today is "change".

Feb 10, 2017 09:10 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks for sharing a post that gives us something to chew on.

Most agents use the "normal" for setting the course of their business.

Marketing like everyone else does. The result as you say is they then get lost in the crowd.

Feb 10, 2017 07:47 AM
Jim Paulson

John Wiley Maybe I should hurry up and trademark the name "Waldo Realty" and the slogan "Your home won't get lost in the crowd".

Feb 10, 2017 09:13 AM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

Dörte Engel I admit to being a bit of a nerd and thanks for that compliment .  The fact that I felt compelled to learn how to type the ö in your name might be an indicator.  Thanks for teaching me something today.

Feb 10, 2017 08:56 AM
Dorte Engel

I'd say. Very few people know how to do it and some programs scramble it always, so even I drop it most times, these days.

Feb 12, 2017 07:55 PM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

Jerry Lucas Mel Brooks and I are both about 4 standard deviations from the norm.  I love his works!

Praful Thakkar I bet you didn't go to Engineer Schools to learn to build average things did you?

Feb 10, 2017 09:13 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

LIke this one.  Hope you don't mind one more feature in one more group.

Feb 10, 2017 09:35 AM
Jim Paulson

Thank you Chris Ann Cleland .  I just noticed your market area includes Manassas, VA.  I was very fortunate when Dominion Semiconductor started there that I was on their relocation team in Boise for people they were recruiting out of Zilog and Micron.  Ironically, when Micron bought Dominion, several of them moved back to Boise so I got to help them again. 

Feb 10, 2017 09:55 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Featured in the group:  BARTENDER, MAKE IT A DOUBLE.

Feb 10, 2017 09:35 AM
Jim Paulson

I am honored - cheers!

Feb 10, 2017 09:51 AM
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

I took statistics in college.  Interesting subject.  I love Zig Zigglar's story about averages:

If you take a person and put one of their feet in a bucket of boiling water and the other in a bucket of ice water, on average, what is he?

 

Uncomfortable. 

 

:)

Feb 10, 2017 10:04 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jim Paulson - Thanks for the enlightenment! Statistics was mandatory for my MBA. It was the last class I took before graduation and not an easy class for me. I wish I had taken it first. I believe that anyone who can master statistics, e.g., the way you explained it in your post and follow-up comments can conquer just about anything. In my opinion, those who can ace Statistics are the true leaders in the world of business and economics.  

Congratulations on a well-deserved feature story!

Feb 10, 2017 12:44 PM
Jim Paulson

I am a long way from mastering statistics but I think more Realtors should take statistics classes.  Just being able to explain the difference between averages (mean, median, mode) to our clients helps. Thanks Patricia Feager 

Feb 13, 2017 08:35 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

And speaking of statistical interpretation - I believe it was Mark Twain who said "There are lies, damn lies, and statistics."

Feb 10, 2017 03:37 PM
Jim Paulson

Marte Cliff some credit Mark Twain (albeit disputed) with "Figures don't lie, but liars figure".

Feb 13, 2017 08:38 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Very revealing!!!

I am proud that I am not your "Normal Realtor".  If you are looking for an agent that understands marketing, negotiating, business strategies, communication instead of someone telling you it is only about price or sq. ft.

Feb 10, 2017 06:38 PM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I prefer to be abnormal! Thanks for sharing!

Feb 10, 2017 07:15 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Jim

Oh that brings back seom memories, but a clever segue into real estate and hw you operate! NOT the avergae Realtor by a long shot!

Jeff

Feb 10, 2017 08:07 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jim Paulson ,

Congratulations on a well deserved featured post! I had to chuckle at Marte Cliff 's comment on Mark Twain's quote "There are lies, damn lies, and statistics." I thought of the same quote when reading your post!

Feb 11, 2017 05:25 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Jim, You're speaking my language since I'm an engineer/agent :)  Bill

Feb 11, 2017 04:32 PM
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

Good point, good post.  Real Estate is not a normal career.  I say to do very well in the business you need to be atypical. I am probably 2 sigma from center as an agent. (grinning) 

Feb 12, 2017 04:54 AM