If Only Poor Writers Were an “Endangered Species” Part 3 of 3

In parts 1 and 2 of this post I pointed out 4 significant errors in the New York Times Magazine article on real estate agents titled, “Endangered Species” by Stephen J. Dubner and Steven D. Levitt. See “If Only Poor Writers Were an “Endangered Species” Part 1 of 3” and “If Only Poor Writers Were an “Endangered Species” Part 2 of 3” for the first 2 parts. In this part, I’ll address the authors’ claim that real estate agents are an “endangered species.”

I agree with the authors that the number of agents will drop. There are way too many people in the business. However, to say that we will go the way of travel agents again demonstrates that the authors don’t have an understanding of the value REALTORS can provide. Buying a home is significantly more complicated than making a flight reservation. Then just when you’ve think you’ve figured it out, you move to another state and the rules and process change.

The risks are also far greater. Book your flight on the wrong day and it might cost you a few dollars to change it. Pay too much for a home or settle for too little can cost you thousands.

The authors use sites like Zillow.com and craigslist.org to support their claim. For my findings on Zillow, check out my Zillow Category under my General Real Estate Category. I’ve found several examples of Zillow’s data being incomplete or even worse, wrong. Craigslist is a wonderful site and I use it to advertise properties. However, before posting a home for sale on it, be prepared for lots of inquires from people who aren’t financial qualified, aren’t serious buyers and in some cases are trying to find people selling without an agent so that they can try to pull a scam.

It’s disappointing that Dr. Levitt, a professor from the University of Chicago, would put his name on an article so poorly researched.