Freakonomics: Trouble brewing for Realtors
There’s a potential crisis looming for Realtors, thanks to a study published in the best-selling book, Freakonomics.
Authors Steve D. Letitt and Stephen J. Dubner claim that Realtors don’t have their clients’ best interests at heart. They say that it isn’t worth a Realtor’s time to advise their clients to hold out for an extra $10,000 because the Realtor stands to make about $150. They’d rather push their clients to make the deal. Once consumers hear that, I’d wonder if any house seller would trust their Realtor’s advice.
Not only that, but the authors’ statistics show that when Relators sell their houses, they get a higher sales price than their clients do!
If this book were some dry economics tome, I doubt the Realtors would have anything to worry about as few people would read it. But Freakonomics is near the top of all the major best-seller lsts. In fact, one of my clients told me about the book and told me about three case studies from the book — nearly word for word from the book. In other words, this book is very repeatable in daily conversation.
If I were on the planning board of the national or local Realtor associations, I’d be scurrying to find the answer to the questions that you know your local business reporters are going to ask you.
Your Fearless PR LEADER