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$100 Million in Sales!
By djelliott999 | December 11, 2007
Did the headline “$100 million in sales!” grab your attention? First off, we did not have $100 million in sales. Sales in 2007 were not as good as 2006, but it was better than anticipated. So why the headline? As I thumbed through a recent edition of our local newspaper, I noticed several ads from realtors that made we start to wonder about truth in advertising. I will readily concede that most if not all businesses are going to try portray themselves in the best light possible: “Best in Big Canoe!”, “Nobody Sells Better!”, etc. This is simple puffery, something I think most Americans have gotten used to from years of TV and radio, and which for the most part, is ignored.
On the other hand, I am starting to see more realtor ads that seem to be pushing the boundary between puffery and just flat out deception. I am sure it goes on in other types of business, but since real estate is our business, that’s what I am in tune with. Recently, I saw an ad that made a claim regarding ”Total Sales”. To me, this is where there seems to be an ethical problem. I think most people are going to connect the “Total Sales” figure with how much that agent sold for the year. In the case I am referring to, this couldn’t be further from the truth. From the data provided by FMLS, it appears as though this was a total derived from many years. However, readers of the ad will probably incorrectly assume that the ad is making reference to the total for 2007 (the ad appeared in a December 2007 paper). Stretching the truth a little, puffery, or deception? The bottom line is, it’s questionable, and it’s a practice that IBA shys away from.
My advice is that when speaking with a Realtor about listing your home or property, have them provide you with current data pulled from their listing service (FMLS for Big Canoe), and show you the numbers. Of course, you may want to be sure that the data you are being shown is for a reasonable time period, and not something like a 2 or 3 year period! You want current data because that is the market your house will be listed in. Last, find out how your Realtor is going to market your home. Look over their web site, what type of print advertising they use, and what other methods they use to generate exposure and leads for your listing. If you have any questions regarding market data for Big Canoe or questions about listing your home, please contact me at (770) 655-4303 or email Karin Elliott.
12/12/07 Additional Note - I found this post by Michael Creel on Active Rain titled “You’ve Just Won a NEW Car!” and thought it was pertinent to my article. Check it out!
Topics: All Posts, Big Canoe Real Estate |
December 12th, 2007 at 9:35 pm
Right on the money. Too often, realtors tell us what they think we want to hear. I just want to know the truth about my home’s value.
-RJ