Posted to The Age (13/1/2011) on 13/1/2011 at 2:58 PM
Commenting on “Counting eggs before they hatch”
http://theage.domain.com.au/real-estate-news/blogs/domain-investor-centre-blog/counting-eggs-before-they-hatch-20120110-1pt5n.html
RP Data sell data. When they make controversial / nonsensical predictions or statements, they attract attention from readers and people interested in real estate, including the real estate professionals, thus creating a higher profile and exposure for the business. This is exactly what they want, so that they can go to potential clients to sell other services including some “more reliable” data.
Reported statistics can only be used as a guide and not as a bible. Many agencies do not report auction bad results, and delay the sales on leaner weeks instead. Most private sales are not included in weekly auction report because they have not gone through an auction process. Some of the RP Data are extracted from various government departments, which are not readily available until they have been entered and processed. The report of rise and fall of 0.1% as a basis for predicting the health of real estate trend is unprofessional and the spokesperson should be reprimanded and come clean with a public apology.
End Part 3 of 4
Commenting on “Counting eggs before they hatch”
http://theage.domain.com.au/real-estate-news/blogs/domain-investor-centre-blog/counting-eggs-before-they-hatch-20120110-1pt5n.html
RP Data sell data. When they make controversial / nonsensical predictions or statements, they attract attention from readers and people interested in real estate, including the real estate professionals, thus creating a higher profile and exposure for the business. This is exactly what they want, so that they can go to potential clients to sell other services including some “more reliable” data.
Reported statistics can only be used as a guide and not as a bible. Many agencies do not report auction bad results, and delay the sales on leaner weeks instead. Most private sales are not included in weekly auction report because they have not gone through an auction process. Some of the RP Data are extracted from various government departments, which are not readily available until they have been entered and processed. The report of rise and fall of 0.1% as a basis for predicting the health of real estate trend is unprofessional and the spokesperson should be reprimanded and come clean with a public apology.
End Part 3 of 4
