
There is no hole big enough NAR can dig for itself.
Most professionals smile when they think about NAR. NAR is a group of cheerleaders that try to get us riled up when the market is heading south. If you have been reading this blog or Calculated Risk or Seeking Alpha, or any serious news media, NAR is usually the laughing stock. Today alone, I picked three stories on Seeking Alpha alone. It’s sad and the worse part of it, my dues pay for this nonsense.
Story number one.
Barry Ritholtz, a regular at Seeking Alpha who has no problem calling NAR, this time saying: “…an exercise in spin.”
NAR is predicting: “Stable Existing-Home Sales Expected in Early 2008, then Gradual Rise” Oh Boy, how many times have we heard this from NAR the last 15 months! NAR is still using the month to month numbers which mean absolutely nothing. The year to year numbers and adjusted for seasonal changes give you a much clearer picture. With a 19.2% drop in the index from last year, it’s hard to understand where they see stabilizing. Crystal balls?
Barry goes back point by point to show NAR horrendous track record.
Second story: Reggie Middleton with
Real Estate IQ Test: Who Believes the NAR? You see, it’s not just me who thinks that.
This post starts with: “Pending sales of existing U.S. homes inched lower in November and should hold steady over the next few months, a real estate trade group said. (I ask, “Why should they do that? Credit is tighter, recession evidence is stronger. Supply is greater, and demand is lower…” OK, this sets the mood.
“With all due respect to Mr. Yun, Mr. Lereah and the NAR, anyone swift enough to complete the registration form for this blog should know, by now, to discount this association’s data and opinions. They do not do the industry justice with this nonsense. Realtors should actually be the first in the protest line. It is their credibility that is being called into question, for this is THEIR trade group. Credibility is the key!” YES, I wholeheartedly agree with this. While NAR thinks it’s OK to spend thousands of my dues on commercial in order to give us a better image, they turn around and not only shoot themselves in one foot but shoot again the same foot the following month. That is NOT OK by me.
And Reggie, when you say: “I, for one, would find it refreshing to have a realtor tll me, “You know, the market really sucks now, but I will contact you when I feel an appropriate opportunity arises.” well I did it. Because in all honesty, I want to be in it for the long term and build credibility. Something anyone should aspire to.
Third and last story:
Felix Salmon, The National Association of Realtors’ Fuzzy Math.
Felix found a website whose parent is none other that NAR. I checked it out, the content is appalling and everything is flash, so much that my Firefox choked on it.
“On average, the value of a home nearly doubles every 10 years,” it says. “At an annual appreciation rate of 5 percent, a 10 percent down payment on a home will return 94 percent after 3 years.” This is criminal. I can’t be part of this association. And it gets even more pitiful as you read more.
NAR, please, oh please listen to your Realtors, STOP IT! It’s embarrassing. It makes me mad I am forced to pay you dues since my Broker belongs to this group. And to what result? A few commercial telling people how great Realtors are? Month after month of predictions that are revised downward the following one? Is this where my money goes?
So before you ask me to pay $735, of which $25 goes to the PWR Charity Foundation, $59 for the Realtor Action Fund, $297 for MLS, our system is so outdated and user-UNfriendly, $109 for the local chapter dues, $135 for CAR and $110 for NAR, make sure you hear us well, NO WAY! On top of it, my city thinks it is OK to ask me for another $183.82 for a business license. Have I mentioned desk fees? That’s $1000 this month alone.
NAR seriously needs to rethink its strategy and raison d’etre. It has become the laughing stock. I can’t remember any Realtor saying anything positive about it. Most don’t talk about it. NAR is embarrassing at this stage and it will do it without my hard earned money.