2018 Survey Results

RRMC Consumer Survey Results

Conducted 11/7/2018

 

 

Level of interest

 

Interest

based on
diversification benefit alone (number of responses)

Interest if low
dn pmt feature added (number of responses)

Interest

based on
diversification benefit alone (% of responses)

Interest if
low dn pmt feature added      (% of responses)

Interest

based on
diversification benefit alone

(cumulative %
of responses)

Interest if
low dn pmt feature added (cumulative % of responses)

Extremely
interested

5

75

110

15%

21%

15%

21%

Very
interested

4

144

167

28%

33%

42%

54%

Moderately interested

3

120

104

23%

20%

66%

74%

Slightly interested

2

81

71

16%

14%

81%

88%

Not interested

1

96

61

19%

12%

100%

100%

Total responses

 

516

513

100%

100%

 

 

 

 

 

A. Summary of answers
to "any confusion of questions" question on survey….  

 

1. Level of interest = 5 and 4
— very few comments about confusion

Level of interest = 1 and 2
— many comments about confusion

 

Frequently repeated comments at all
levels of interest include:

 

2. Numerous requests for better clarity,
numeric examples, scenarios, graphs, tables, too much jargon, use more layman’s
terms, too long, wordy

3. Multiple people "had to re-read
multiple times" to understand 

4. Pull out details, reference website
or other doc for details

5. Costs not clear

6. What is national average, how
calculated

7. Many folks thought it seems very
inexpensive

8. “Eggs in basket" graphic was
helpful, liked

 

 

B. Summary of
answers to "why (or why not) interested" question on survey….  

 

Reasons people are interested (4s and 5s, some 3s)

(in order of how frequently mentioned,
#1 is most often …)


1. Security, peace of mind, down market protection, 2008 again
2. Personal loss in past, local markets down in past

3. Diversification benefit, 

(Note – a number of respondents
specifically mentioned avoiding "eggs in 1 basket")

 

Mentioned, but significantly less often

4. Lower down payment

5. Help if financial stress situation

6. Product is affordable

 

Other points made frequently by
interested respondents

1. Not clear presentation

2. Want more info

Reasons people are NOT interested (2s and 1s, some 3s)

(in order of how frequently mentioned,
#1 is most often …)

1. Skeptical, seems deceptive, too good
to be true, free lunch

2. I don’t need it, no current mortgage,
my market over performs

3. Confusing, don’t understand

 

Mentioned, but less often

4. Don’t want to pay if my market over
performs

5. Don’t want more insurance, hate all
insurance
6. Need to see actual results

7. Worried if RRMC business survive

(Note – We have redesigned our website with a
focus on providing easier-to-understand language. We believe this will help
address some of the issues commented on within the survey)

 

Regarding Validity of our Survey

There are numerous articles on the subject of
Amazon Mechanical Turk survey validity. We believe the
one below is
the best, presented by a respected peer-reviewed journal.

 

Perspectives on Psychological Science is the 4th highest
ranked Psychology journal (
https://www.scimagojr.com/journalrank.php?category=3201)

 

Perspectives on
Psychological Science Volume 6, Issue 1, 2011, Pages 3-5

 

Amazon’s mechanical Turk: A new source of inexpensive, yet
high-quality, data

·       Buhrmester,
M., Kwang, T., Gosling, S.D.

·       Department
of Psychology, University of Texas at Austin, University Station A8000, Austin,
TX 78712, United States

Abstract

 

Amazon’s Mechanical Turk (MTurk) is a relatively new website
that contains the major elements required to conduct research: an integrated
participant compensation system; a large participant pool; and a streamlined
process of study design, participant recruitment, and data collection. In this article,
we describe and evaluate the potential contributions of MTurk to psychology and
other social sciences. Findings indicate that (a) MTurk participants are
slightly more demographically diverse than are standard Internet samples and
are significantly more diverse than typical American college samples; (b)
participation is affected by compensation rate and task length, but
participants can still be recruited rapidly and inexpensively; (c) realistic
compensation rates do not affect data quality; and (d) 
the data
obtained are at least as reliable as those obtained via traditional methods
. Overall,
MTurk can be used to obtain high-quality data inexpensively and rapidly. © The
Author(s) 2011.