The Realtors associations are at it again with their market spin. This time they’re putting out propaganda how tht National Association of Realtors (NAR), miscalculated their homes sales reporting and are “rebenchmarkeing” the figures.
Here’s the bulls**t right from the New Jersey Association of Realtors (NJAR) own newsletter that they send out to all NJ Realtors:
NAR to Issue Research Rebenchmarking
Today, December 21st the NATIONAL ASSOCIATION OF REALTORS® (NAR) will announce results of a year-long rebenchmarking process for existing-home sales (EHS). Factors such as population changes in sampled areas, growth in MLS coverage areas, declines in for-sale-by-owner transactions, and some individual sales being recorded in more than one MLS have contributed to an updrift in EHS data over the past few years, and this rebenchmarking will ensure more accurate and reliable information. For additional details please visit the NAR website.
How’s that for taking 5 years of misrepresenting the facts and attempting to turn it into a misunderstanding.
- how many people bought homes assuming that the housing market wasn’t so bad. Remember their mantra…”you can’t lose owning a home”
- and of those who bought a home since 2007, what percentage of the homes are worth less today then when they purchased them…close to 100%?
- how many Realtors made money selling homes to unsuspecting buyers, and how many will make even more when they resell these homes at a loss when people can no longer afford them? 100%?
The NAR got caught red handed because their figures were never even close to being in line with companies such as CoreLogic…who’s numbers were always 15-20% less than the NARs numbers. For years CoreLogic, was protesting the NARs misleading information.
Given the fact that the NAR is a trade association who’s sole purpose is to help their member agents sell more homes, can anyone ever trust their sales figures going forward? No
I’d be willing to venture that they’ve been cooking the books for years prior to 2007.
NAR Code Of Ethics: I am a REALTOR¨ I pledge myself To Protect the individual right of real estate ownership and to widen the opportunity to enjoy it; To be honorable and honest in all dealings; To seek better to represent my clients by building my knowledge and competence; To act fairly toward all in the spirit of the Golden rule; To serve well my community, and through it my country, To observe the REALTORS¨ Code of Ethics and conform my conduct to its lofty ideals.
They took the simple task of collecting sales data and purposely turned it into a business of deception…and every home owners has been hurt because of it. And it has done damage to our overall economy as well.
Buyer confidence has been killing the market , and now seeing that the sales figures are off by an incredible 20%, who would blame every potential home buyer to take a few steps back and reconsider their purchase. Buyers would be smart to.
I can’t wait to see how this unfolds.
I no longer want to be associated with the NAR, and want to opt out of paying them any dues. The NJAR is fighting me on this.