NAR in the News

Recently, some journalists reported results of a Harris poll in which real estate agents were perceived as one of the least prestigious occupations in a list of 23 professions. Too bad they didn’t include Realtors® on the list.

Realtors® are distinct from real estate licensees. In addition to completing mandatory quadrennial Code of Ethics training, Realtors® also have access to educational opportunities and training in real estate specialties that are not available to other licensees. NAR’s Public Awareness Campaign educates consumers about these and other distinctions, and after nine years, the campaign’s effects are evident.

In the past three years alone, NAR research has shown that the number of consumers who say they would be more likely to use a Realtor® instead of a real estate agent who is not a member of NAR has risen by nearly 20 percent, to three out of every four consumers. Over the past six years, the percentage of consumers who believe that Realtors® are more qualified to promote the sale of a home than real estate agents who are not Realtors® has risen dramatically, from 54 percent in 2000 to 73 percent in 2005.

Realtors® are real professionals who have the opportunity, experience, and privilege of helping people achieve the American dream of homeownership. What could be more prestigious than that?

Posted on October 13 at 03:47 PM | Permanent Link | Add a Comment (16)

The Examiner and the New York Times (free registration required) ran articles on the most recent housing and economic forecast. The Examiner quoted David Lereah saying, “Many potential home buyers who have been taking a wait-and-see attitude or taking their time and being methodical in the search process are being enticed by lower home prices…Given a positive economic backdrop of lower interest rates and job creation, we expect sales activity to pick up early next year.” BankRate.com quoted Pat Vredevoogd Combs on becoming an agent.

Posted on October 13 at 12:39 PM | Permanent Link | Add a Comment (0)

The State Journal-Register (IL) wrote about the Illinois Association of Realtors’ recent Habitat for Humanity home build. The build was part of the Realtor-Habitat Partnership for Gulf Coast Recovery program, in which NAR and each of the nation’s state and territorial Realtor associations will build 54 Habitat homes for Gulf Coast families. BusinessWeek and Newsweek wrote about the cooling housing market.

Posted on October 11 at 04:18 PM | Permanent Link | Add a Comment (0)

By now, many visitors to this blog have likely seen or at least heard of the latest real estate “reality” show to hit the airwaves – “Million Dollar Listing.” But the sensational story lines and scenarios in this show are anything but an accurate depiction of reality.

With most of these shows, reality is loosely defined, and “cast” members are often selected for their outrageous behavior and outsized personalities to attract viewers. “Million Dollar Listing” is no exception.

The production company’s own Web site makes it clear. “Million Dollar Listing is a show about the high-stakes, cut-throat world of real estate and closing the deal...but it’s the personal dramas, the insanity of its quirky cast and the insider tips aspiring homeowners and home buyers will learn that will keep viewers glued to the television each and every week.”

The show’s objective is not really to inform, but to entertain. Which would be fine, except that some viewers, particularly those who have little or no experience with real estate professionals in real life, might come away with some very distorted images of the industry.

As most Realtors® would tell you, earning a living by helping people buy and sell real estate is hard work, and long-term success requires professionalism, people skills, extensive knowledge of local markets, and a great deal of patience.

Real estate is not a get-rich-quick profession. The median gross personal income for all Realtors® in 2004 was $49,300. For Realtors® with two or fewer years of experience, the median was only $12,850. And Realtors® work hard to earn a living – the typical Realtor® works 46 hours per week, and nearly one in five report working more than 60 hours per week.

The good news is that 85 percent of home buyers and sellers in a nationwide survey would most likely use their real estate agent again. On this personal level, a sizeable majority of the home buying and selling public know that Realtors® are hard-working, trustworthy, and committed to providing their clients with the best service possible.

If you’d like to e-mail your views to the producers of this show, contact them at wow@worldofwonder.net.

Posted on October 3 at 10:33 AM | Permanent Link | Add a Comment (0)