National Association of REALTORS Pissed... NAR & REALTORS Fire Back at Author's Comments
Here is some interesting reading. The authors of "FreakEconomics" where on the Today show a while back and brought up some research from their book that basically stated, real estate agents who sell their own properties net a higher amount and stay on the market longer then the properties they list for their clients. This pissed off the NAR, so they fired back. Here is a link to the FreakEconomics blog response to the NAR's response.
Then just a few days ago, the FreakEconomics guys where at it again on the NYTimes with this article "Endangered Species"... here are some comments from the article posted on their blog.
This has spawned a good conversation at the RainCity blog.
What are your thoughts, are REALTORS really in trouble? Do they provide "professional services" or simply "convenient services"?
Then just a few days ago, the FreakEconomics guys where at it again on the NYTimes with this article "Endangered Species"... here are some comments from the article posted on their blog.
This has spawned a good conversation at the RainCity blog.
What are your thoughts, are REALTORS really in trouble? Do they provide "professional services" or simply "convenient services"?
2 Comments:
As a group, Realtors are NOT in trouble, but they are dealing with a tidal wave of changes - espeically in technology. Read Forrester's Charlene Li's blog entry:
http://blogs.forrester.com/charleneli/2006/03/my_house_hunt_a.html
Real estate agents are not in trouble. As a matter of fact, the increase of affluence in this country has led to the growth of the super consumer. These are people that drive $40,000+ vehicles, eat at nice restaurants and have $150+ per month cable bills. The super consumers want service and they want things done for them. If real estate wasn't so personalized real estate agents would be in trouble. Sure Ameritrade can handle your stock trade for $7 but selling a property takes time and energy if nbot from an agent than from a seller. The day real estate bacomes a mechanical automated process will be the day that real estate agents are in trouble. The super consumers are still employing full service brokers at greater rates than other sellers. In this economy, people want what they want, they want it now, and will do business with whoever gives it to them, price be damned. My wife just signed a contract to have my house painted for $31,000.00. Yikes. I am sure that we could get it painted for 15k but she assumes by paying more we will get a better job and she is a super consumer. People will continue to do business with full service real estate companies. They aren't going anywhere.
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