I got to thinking about an issue today (mistake number one) dealing with quoting percentages. I think if you were to ask any agent on this system for the percentage of agents that do 80%, 90% or even 95% of the business you'd get an answer, and it would probably be a little different from each. Can I honestly say that I KNOW that percentage (can you)? No, I can't (if you can I want the link for my listing presentation). In fact, I've never seen it written down or referenced by any credible institution that actually researches statistics...

I'm not saying that it isn't true... but it got me thinking...

How many times have I blurted out a percentage to a client/prospect based on no more than conjecture or 'I heard it through the grapevine' proofs? I've heard that 50% of newly licensed agents in our market quit in the first 12 months and then it goes to 75% by month 24. I've been searching for those stats and can find nothing of the sort... in fact I'm not even sure what source I got that from. How many other 'statistics' have I quoted without evidence?

I'm coming to the conclusion that if I want to quote percentages I need to have legitimate supporting proof or my words are unethical... (that's right, I know I could be wrong but I pretend not to be - that's unethical). I do believe, however, that I can say things like "I believe that a majority of..." or "It's been my experience that almost none..." and so on. I shouldn't be saying 76.5% unless I know within reason that it's 76.5% (+- whatever the authority says). Taking this into account I can reword my statement above to "It's my understanding, from experience, that a good number of new licensed agents quit in the first year, and then many more by the end of year 2"

I see two options in my life (these are for me personally, take from this what you may). 1. Never quote percentages unless I know them to be reasonably accurate. 2. Use vague generalities based on experience and be sure to disclose that what I am sharing is conjecture.

I've always believe that once I realize a personal truth, as I believe I have above, that I have an obligation to act accordingly. In other words, I can't in good faith continue to quote percentages and pretend I never considered or researched this subject without being guilty of unethical behaviour.

What do you ladies and gentlemen think? Is there a place to get statistics that is easy to find and reliable? Maybe I'm the one in the dark and there's an easy resource, I hope so!

Parker Byron
Kansas City Real Estate
www.JohnsonCounty.com