90% Of What You Read on the Web Is True 50% Of The Time ... Maybe.

By
Real Estate Agent with Coldwell Banker Townside

Have you seen this site, Homethinking.com?

According to their home page, it's designed to show consumers the "transactional histories of real estate agents and mortgage lenders.  In theory the idea is great - find out what kind of experience your REALTOR® or mortgage lender has before contacting them.  One of the great things the internet has provided is the ability to research and qualify BEFORE ever talking with a practitioner.  I'm sure what they're doing is just compiling statistics from public records andJeremy Hart MLS statistics, I just wish the figures Homethinking gives were right ...

If you look at my bio, it says that I sell 3 bedroom homes, averaging $214000 per sale.  When I compare that to statistics from the New River Valley's MLS, I see that they got that ALMOST right.  My average sale has been $217437 over the last five years, but they also say I'm selling 35 properties right now.  I WISH I was selling 35 properties right now, but it's more like 11:

Selling properties
 




Of the homes they show on the first page, one of them I had listed but didn't sell (yes, it happens from time to time), three others I sold last year, and two that are listed as homes are actually land. 

So what's the point?   While I welcome the opportunity to demonstrate how we stand out from the crowd, how reliable IS this data, really?  If Homethinking shows we're actively selling 35 properties, does that give a potential buyer or seller the impression that we're too busy for them?  Can you even make an informed decision off of information like this?

Since we're discussing the issue of relevant information, they recommend other real estate agents in our area, as well.  I'm sure this is a rotating, revolving ad, but they're advertising a Northern Virginia agent as serving Blacksburg. That doesn't seem very relevant.

Ashley Team-1
 
Just another reminder that while sites like HomeThinking.com try to be a one stop shop for finding the best agents out there, sometimes you need to do a little more research.  Talk to them ... read their blogs ... get to to know them ... perhaps your perceptions will be changed, and maybe they'll be validated, but you'll know that you can rely on your findings 100% of the time.

Comments (5)

Brian Block
RE/MAX Allegiance, Managing Broker/Branch Vice President - McLean, VA
Northern Virginia & D.C. Real Estate

Jeremy, interesting information.  I just checked out the Homethinking site and while I'm up there, they don't have my data in their records.  Do you nee to sign up to stand up and be counted?

By the way, I thought everything on the internet was true.  Am I wrong?

Aug 29, 2008 10:58 AM
Anonymous
Jeremy Hart

Brian, you don't need to sign up - at least that's how I understand it.  I certainly didn't do anything to contact them, so I'm thinking it's just an aggregator of some kind. 

Sep 01, 2008 07:06 AM
#2
Gene Allen
Fathom Realty - Cary, NC
Realty Consultant for Cary Real Estate

Thanks for the info.  I looked me up and am currently selling 11 properties.  I only wish. 

Sep 01, 2008 01:27 PM
Judith Reppert
United Country Countryside Realty - Mount Vernon, MO

Interesting.  I searched for blogs on this after a homethinking.com link showed up in my Google alerts for my name today.

For me, I found the site to have mostly inaccurate and outdated information.  I haven't even lived in Florida for the last two years, and they think I'm still selling 8 properties there.  I had no idea I was so talented as to be in two places at once! 

I don't think I'm going to worry about this one.  It's an interesting idea, but their execution is pretty poor.  It's not relevant to my current market in any case since home sale prices are not public data here.

Thanks for the post, it was good to hear that other people have run across this site too.

Sep 26, 2008 11:03 AM
Jeremy Hart
Coldwell Banker Townside - Blacksburg, VA

Gene - well, get out and start digging for those properties!  Hampton Roads is seeing some strength, good luck! 

Judith - agreed, it's outdated and inaccurate.  It's an interesting concept, I think - give the consumer another resource to research and sort.  For that I don't think it's off-base, but I'd like to see more appropriate information.

Sep 27, 2008 03:18 AM