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