First Time homebuyer Don’t Feel Lost This guide applies to all homebuyer’s and I can send via email. Don’t be shy, you don’t have to be in the Sacramento/ElkGrove area for me to
The National News Media Inaccurately Impacts Local Markets
Dated: December 16 2018
As professionals, how do you feel about the impact of national news media on your local market, your clients' confidence levels and their perception of the market, & you as an expert?
Recently, I sent a response to an email distributed by an agent whom I respect. She sent an eArticle from CNN that I felt was in error.
Here was my response:
"You must be careful when interpreting this type of data. This is OUR market, it is it's own micro-economy, geographically, demographically, and literally. National broadcast journalism sources prepare reports utilizing data collected from a national, or macro-economic perspective.
The sum of their data is ALWAYS either aggregate, averaged, a ratio, or algebraic; ESPECIALLY when they attempt to apply their interpretations to micro-economic situational circumstance. Whereas, in the reverse, or from the perspective of the actual micro-economy they are applying their analyses to, the conclusions and assumptions they ultimately arrive at are most often skewed, disconnected, and/or plain wrong as is clearly the case with this CNN Money report you've distributed."
Not all, but most micro-economies, such as ours, have far too many unique variables to fit into a national average. One of the times that I was interviewed for the Sacramento Business Journal, the local reporter asked me how such nationally based broadcasts impacted the retail real estate business here in our markets. In a few words I told him that frankly they make our job harder; that is our job of educating our clients. Clients expect us to be the experts, all of us. Yet when the reality of our market as we detail it, conflicts with network, and national broadcasts.... hey, people believe what they hear on TV!
It's truly a shame when local reporters unwilling to do their own homework in THEIR backyard, rely upon, and indeed repeat the skewed nationalized data on local TV.
Anyway, just a thought or two.
Dameon V. Russell
Our Team THE RUSSELL REALTY GROUP As a Black and Latina-owned Business, we embody top-down diversity throughout our company. There is no greater sense of pride than the pride we have in that. A tr....
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