Aussie Macro Moments Desperately Clings To REIV Property Reports To Justify Rismark RP Data Index

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Aussie Macro Moments Desperately Clings To REIV Property Reports To Justify Rismark RP Data Index; The REIV represents real estate agents, is commercially driven, biased and is not independent or objective
Topic Started: 16 Jul 2012, 11:01 AM (1,354 Views)
miw	17 Jul 2012, 02:46 PM Post #31
Posts: 3,915 Group: Diamond Member Member #1,917 Joined: 22/04/2012	Stavros 17 Jul 2012, 02:42 PM You can agree with that, but you cant agree with me - even though I have been making that point since this debate started. My claim was simply that the REIV price data cannot be trusted. This was point Alec Smart was making. This point has now been accepted, vindication is sweet No. I can't agree with you. There is no evidence that their price data cannot be trusted, although I wouldn't be going to any of the REI* organisations for my price data. There are better sources. But each to his own tinfoil hat. Whom you believe makes no difference to reality.
	Last time I followed my dreams it led me to a casino, a bar, a gun shop, then a bank. Never again! AREPS™
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peter fraser	17 Jul 2012, 03:00 PM Post #32
Posts: 5,091 Group: Diamond Member Member #41 Joined: 05/11/2010	Stavros 17 Jul 2012, 02:42 PM miw 17 Jul 2012, 02:08 PM Aussiehouseprices 17 Jul 2012, 01:43 PM For sure. The line "if you don't buy now, you'll miss out" is their favourite tactic. Much harder to get away with this when prices are falling. To summarise - and I think we all agree: 1) Agents care little about the price of a house they sell - they just want the sale. In fact, this was proven in a study showing the length of time a real-estate agent keeps their own house on the market when selling it vs. their clients - and it was, on average, longer for their own. This shows that that they are not holding out for the best price for their clients. 2) Real-estate agents (and their governing bodies) prefer a rising market, and will talk up the market, because it makes it much easier for them to get that sale. Yes. I can definitely agree with that. It's undeniably easier to make a "this is the time to buy/sell" spin when the market is rising, or at least showing some signs of turning up. But trying to manufacture an upturn when there are at least 4 other organisations with higher credibility putting out data would seem to be pretty counterproductive to me. You can agree with that, but you cant agree with me - even though I have been making that point since this debate started. My claim was simply that the REIV price data cannot be trusted. This was point Alec Smart was making. This point has now been accepted, vindication is sweet That might be what you thought you said Stavros, but it's not what you did say. The various RE state organisations naturally try to help sales for their members, but treating that as outright lies is an exaggeration in my view. This is a new index and only time will tell whether it is accurate or not.

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Stavros	18 Jul 2012, 09:10 AM Post #33
Posts: 253 Group: Gold Member Member #2,192 Joined: 03/07/2012	peter fraser 17 Jul 2012, 03:00 PM That might be what you thought you said Stavros, but it's not what you did say. The various RE state organisations naturally try to help sales for their members, but treating that as outright lies is an exaggeration in my view. This is a new index and only time will tell whether it is accurate or not. No it was clearly what I said. You made the misleading claim that agents dont care about prices in terms of making individual sales, even thoguh the whole discussion was about the trust worthiness of the REIV. You and MiW tried to defend RP Data, who are now clearly the outlier claming house prices didnt fall in June in Melb and Syd. Game Over for this thread.

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NotFooled	18 Jul 2012, 09:18 AM Post #34
The Bear Whisperer Posts: 3,184 Group: Diamond Member Member #931 Joined: 01/08/2011 Blog Please insert the title of your blog	Stavros 18 Jul 2012, 09:10 AM Game Over for this thread. Because you lost.

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