November 18, 2012

NAR survey says their website gets more traffic than anyone else

121117-survey-searchInman News has a fairly long piece about a new National Association of Realtards survey.  There’s plenty of self-serving results to this 120 item questionnaire that was sent to 93,000 homebuyers and gave them a whopping 8% response rate.

One eyebrow raiser is the net gain on sale of a home held 11 to 15 years.  Now, if you live in the Real Bay Area, you already know the answer to that because your money would have doubled in ten years.  But the survey says the typical seller gains 31 percent, or $54,000.  So the gains aren’t anywhere near enough, and this says the typical house is worth $174K. Since you can’t even buy a playhouse for $174K in the RBA, we know this survey was sent to the wrong kind of people.

And that explains some of the other curious results.

54% of buyers who used the internet used their local MLS site.  Can you even name your local MLS site?

More popular than “other” websites (such as Redfin, Zillow, Trulia, etc.) are local real estate agent sites and then realtor.com.  Followed by broker company sites. Uh-huhhhh.  And that doesn’t include mobile apps.

Nine out of ten buyers who used the internet to find their new home used a realtard in the transaction, compared to seven out of ten of those who live in 1950 and used the newspaper.  The discrepancy is explained by the fuddy-duddies either buying from a builder direct or buying a house from someone they already knew.  Not mentioned was the non-internet users also not familiar with another realtard tool: the telephone.

121117-survey-agentsMost important factor in choosing a neighborhood was its quality, followed by commute time, affordability, and closeness to family and friends.  Not mentioned at all was the #1 driver of home sales in the RBA: school quality.  Who gives a crap about the neighborhood if the kids get into a school with APIs over 900?

Buyers chose a realtard based first and foremost on their reputation, which is like saying people decide who to vote for in an election based on a politician’s honesty.  Whoops, that’s the second most important thing buyers look for.

And what did buyers expect the realtard to do for them?  The most popular answer was “Help me find the right home.”

You can see some highlights from the NAR report on their website.  Want the full report?  It will run you $150.

Comments (5) -- Posted by: madhaus @ 5:12 am

5 Responses to “NAR survey says their website gets more traffic than anyone else”

  1. wahnny Says:

    Unsurprisingly, the NAR survey is at odds with my experience as a buyer. During the last decade, I’ve primarily used “Other listings websites” when searching for properties in the Bay Area. I’ve found the realtor-specific websites pretty one-sided (especially for higher-end properties), presenting fantastical opportunities while overlooking/ignoring unsettling facts. Here’s where local property reviews by “Other“, more informative websites have helped to put things in proper perspective.

  2. SEA Says:

    The NAR should partner up with FB and tell all of us how important they are.

  3. madhaus Says:

    NAR on FB: https://www.facebook.com/realtors

  4. Divasm Says:

    I can’t remember where I saw it, but I could swear I’ve seen some stats on how often people change jobs or even careers here in the RBA. Since I’ve worked at 4 places in the last dozen years, spanning from the Presidio in SF to Emeryville to Redwood Shores, commute isn’t highest on my list. No matter where I go it sucks, and it will change in a few years, unlike my kids’ schools.

    But then again, my in-laws from Utah are horrified that it takes me more than 20 minutes to get anywhere, much less work.

  5. Tom Stone Says:

    I’m a Realtor and very fond of this site. Madhaus is […] my kind of people. I can’t speak for any other area, but in Sonoma County only about 15% of the $1MM plus homes are worth a serious look. The most common problems are putting the house on the wrong part of the lot to save money on the road/utilities, facing the house the wrong way (The view is THAT way), bad workmanship and bad floor plans.And it goes on…and people buy them for full price at times.

    Edited out the personal info. –ed.


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