Quote:
Originally Posted by retiredguy123
Why would anyone trust market information compiled by a real estate organization whose sole purpose is to promote and sell real estate?
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First, as a public company, the real estate organization does have a responsibility to shareholders to represent the company fairly. There are also class action lawsuits against companies for misleading the public, so I tend to "trust" public company statements a bit more than say an individual sales rep.
I did go into a Myrtle Beach golfing condo area, The Legends, after a co-worker bought a condo in 2010 after the sale agent told him the worst was past. This was in 2015. The sales agent used the exact same speech on me. The co worker sold the condo for about $100K, 50% loss on his investment.
Sales reps, never listen to them. Public company statements subject to independent scrutiny with lawsuit potential. . . yes, I listen to them, but also realize that they are at a national or regional level, which may make it moot for my transaction. But there are so many variables to a sale, some of which can't be quantified, that most people's buying and selling experience doesn't pass the statistical significance test, including all the individual stories on TOTV, including those of buying at $20K bid after a list price of $60K.
sportsguy