Read my latest Bloomberg View column Real-Estate Agents Ride High Again.
It was disappointing to have so many Realtors go on the attack over this piece showing they missed the entire point – I was writing about the trend, not the dollars or the splits. Are commission incomes higher in say Manhattan than in rural Texas. Doh! The very idea that incomes are rising after years of low transaction volume plus the lack of resurgence in NAR membership since the financial crisis has made for a little less competition today. This seems like good news to me for the industry. But with the barrier to entry so low, the window will close sooner than later.
I even had a PR executive at NAR send me a critical email concerning my numerical calculations and results but made the mistake of exposing her significant lack of understanding about what data NAR actually publishes. To avoid embarrassing her I opted not to share the letter in this post.
Here’s an excerpt…
This is turning out to be a pretty nice time to be a residential real-estate agent. As the housing market recovers, average income has been rising faster than sales largely because there are fewer agents planting for-sale signs…
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Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts. He holds the Counselors of Real Estate (CRE) and Certified Relocation Professional (CRP) designations. He is an Appraiser “A” Member of the Real Estate Board of New York and a member of Relocation Appraisers and Consultants, Inc.
You'll be able to choose from an array of robust housing metrics compiled using research developed during the preparation of our market report series. Expanded significantly from prior offerings, use this resource to build charts and custom data tables or leverage your own information for more powerful research and presentations.
In the meantime, here is a small sample of the aggregated data we will provide.
“Jonathan makes real estate statistics come alive by explaining what they mean now and indicate for the future.” –Joe Connolly, WCBS Radio
“Jonathan Miller: He's the guy with 'boots on the ground' when it comes to real estate.” –Tom Keene: Bloomberg TV, Surveillance
“If New York real estate is a sport, one of its most prominent score keepers is Jonathan Miller.” –New York Daily News
“Should we have seen this coming?...I spoke to appraiser Jonathan Miller 3 years ago.” –Jane Wells, CNBC
“Jonathan Miller of Miller Samuel is a NYC real estate "cultural icon."” –Katherine Clarke, New York Daily News
“Somebody-explain-this-crazy-market-to-me guy Jonathan Miller.” –Curbed New York
“Jonathan is a legend, one of the most quoted appraisers and experts in the industry.” –Dottie Herman, President and CEO, Douglas Elliman
“Jonathan Miller, the appraiser who is the savviest observer of the local residential market.” –Crain’s New York Business
“Jonathan Miller is well-known for taking the pulse of Manhattan real estate.” –PBS Nightly Business Report
“If market guru Jonathan Miller said it, it must be true.” –Stuart Elliott, Editor-In-Chief, The Real Deal
“It’s tough to find the good guys..Fortunately we found one. His name is Jonathan Miller.” –Glenn Beck, CNN
“Jonathan Miller’s blog Matrix. Completely Keanu Reeves-free real estate economics, not for beginners.” –Curbed San Francisco
“Miller Samuel CEO Jonathan Miller holds the key to the luxury real estate market.” –Deirdre Bolton, Anchor, Fox Business
“Check out Superstar Appraiser Jonathan Miller’s blog Matrix for the latest in depth information on NYC housing.” –Urban Digs
“The oracle of New York City real estate: Jonathan Miller.” –Amir Korangy, Publisher, The Real Deal
“Our man Jonathan Miller drops the truth bomb.” –Barry Ritholtz, The Big Picture Blog
“Miller’s more than 20 years of real estate experience comes out in this no-nonsense blog.” –Seeking Alpha
“His market reports are to the Manhattan housing market what those brackets are to the NCAA Tournament.” –New York Observer
“Jonathan Miller—the data whisperer” –Brick Underground
“Jonathan Miller: the true God of real estate data.” –Fredrik Eklund, The Eklund Gomes Team / Bravo’s MDLNY
“Jonathan Miller is the most trusted (and quoted) man in New York real estate.” –New York Observer
“Jonathan Miller...Manhattan’s most revered independent appraisers of residential property.” –Daily Telegraph (UK)
“Jonathan Miller, President of Miller Samuel and real-estate savant.” –Curbed Miami
“Jonathan Miller: One of the top 25 most influential U.S. real estate bloggers.” –Inman News
“"Between the Bricks" Columnist gives a 2016 Data Brick to Jonathan Miller for keeping the industry honest.” –Lois Weiss, New York Post
“Jonathan Miller: One of the most famous appraisers in America today.” –Phil Crawford, 'Voice of Appraisal' Radio Show
“His prescient 2012 declaration that “luxury real estate is the new global currency” was repeated as gospel...” –New York Post
“Jonathan Miller, the demigod of New York real estate stats.” –New York Observer
“Jonathan Miller: One of the best finance people on Twitter.” –Business Insider
“A web site 'worth visiting.'” –Realtor Online Magazine
“Market Analyst Jonathan Miller: Thank the Flying Spaghetti Monster he's on our side.” –Curbed Miami
“Jonathan Miller, owner of New York City’s Miller Samuel and one of the nation’s most prominent appraisers” –Money Magazine
“Jonathan Miller, an appraiser dubbed 'the Wikipedia of Manhattan real estate.'” –Barrons
“Jonathan Miller is an incredible real estate analyst, a true Rockstar on NYC metro luxury markets.” –Ivy Zelman, CEO, Principal, Zelman & Associates
“Jonathan Miller, Go-To Appraiser. Appraising the state of real estate.” –Barry Ritholtz 'Masters in Business,' Bloomberg Radio
“Jonathan Miller: The man who knows.” –Real Estate Weekly
“Jonathan Miller is the DJ Khaled of real estate.” –Stefanos Chen, New York Times
“In this ever changing NYC market, Jonathan’s reports give me an accurate snapshot at any given time.” –John Gomes, The Eklund Gomes Team / Douglas Elliman Real Estate
“Jonathan Miller delivers real estate news in language even a blogger can understand.” –Curbed DC
“Miller is arguably the most influential voice in residential property valuation markets today.” –Altos Research
“New York real estate maven Jonathan Miller.” –Slate
“Then there is Miller’s authority in residential appraisals.” –Reuters
“Jonathan is considered the 'dean of appraising' in the industry.” –Donna Olshan, President, Olshan Realty Inc.
“When it comes to markets trends, nobody knows the multiple NYC real estate markets better than Jonathan Miller.” –John L. Heithaus, CSO, Buyside
“Miller is the best real estate blogger out there.” –Bankrate
“Matrix: One of the top five U.S. real estate blogs.” –Inman News
“Jonathan Miller: Best online real estate expert.” –Money Magazine
“In the real estate world, Jonathan Miller is where street-smart meets book-smart.” –Jed Kolko, Chief Economist, Trulia
“JM makes real estate stats talk in language that normal people understand.” –Teri Rogers, Brick Underground
“His quarterly reports on the New York City-area market is considered required reading among real estate professionals.” –Reuters
“Renowned appraiser and [Matrix] real estate blogger, Miller is a statistical wizard. Can dodge bullets in slow-mo.” –Real Estate Tomato
“Jonathan Miller, the go-to expert on all residential real estate figures.” –Crain’s New York Business
“Jonathan Miller, the most popular guy on the block when talking about real estate in New York.” –Tom Keene, Bloomberg Radio
“Why is Jonathan Miller’s Matrix required reading? …He grabs you right from the start.” –New York Times
“Jonathan Miller is one of the icons of the real estate industry.” –Real Estate Board of New York
“Jonathan Miller...one of the nation’s most prominent appraisers.” –Money Magazine
“A Curbed reader goes all 'Jonathan Miller' on us.” –Curbed New York
“Jonathan Miller delivers the unflinching and un-fluffy truth about an industry he knows inside out.” –Teri Rogers, Brick Underground
“A combination of Godzilla, King Kong, and Hurricane Katrina all wrapped up in one as he wreaked havoc on the housing market.” –New York Sun
“Jonathan Miller is 'a complete pro, a shining star in the real estate industry.'” –Donna Olshan, President, Olshan Realty Inc.
“Jonathan Miller is a master of his craft...we are lucky to have him as an advocate for appraisers.” –Phil Crawford, ‘Voice of Appraisal’ Radio Show
“Expert Appraiser Jonathan Miller: New York City’s Real Estate Data Wizard” –Epoch Times
“Jonathan Miller is 'one of the most important people in real estate.'” –Elizabeth Ann Stribling-Kivlan, President, Stribling & Associates
“Jonathan...understands how to take numbers and explain them to people in a way that makes sense.” –Dottie Herman, President and CEO, Douglas Elliman
“Our sherpa in the land of broker euphemism for the current state of the housing market.” –New York Observer
'Three Cents Worth' column 3CW ('05-'16)
When Curbed was acquired by Vox, my eleven years of 3CW chart art and column links were broken on Curbed NY, Curbed DC, Curbed Miami, Curbed Hamptons, Curbed LA, and Curbed Ski.
Many of my 3CW charts can be found here:
Curbed 3CW Full Chart Archive
For each issue of Elliman Magazine produced by Douglas Elliman, the same company that publishes most of our U.S. market research, I write a brief column and create a graphic to illustrate an important issue facing the luxury housing market…. Read More