Based upon our experience over the past decade, there is a “statistics-driven” trend in real estate. Agents place statistics—often beautifully presented—in front of a client and then encourage that a decision be made based upon those statistics.
Thus, our cautionary note: If an agent puts a graph, chart, or set of numbers in front of you but doesn’t also reveal the data source, sample size and method of collection, then “buyer beware.” Statistics can either be manipulated or omitted to serve an agent’s agenda. And, to be fair, it’s also possible that an agent not familiar with the derivation of statistical figures could unwittingly present invalid information.
So, if an agent tries to convince you of something using statistics, or more to the point, if an agent claims some absolute based upon statistics, just be ready to ask questions and be informed. There is certainly a place in this business for statistics, if used appropriately and with full disclosure.
However, keep in mind that the value of an agent is the knowledge and experience behind the graph, not the graph itself.
