Real Estate Technology: Throw Away That Wide Net

Broker Cafe
Published: 07/18/2012
Posted by: RET Staff

Separating winners from losers is often an exercise in smart targeting. Our instinct is to cast the wide net and see which fish we drag in the boat. But wide nets are expensive to throw and bring back all sorts of inedible items into the canoe. It's frustrating and defeating.

Winners segment. Winners know which fish lunge at what type of bait, what time of day and what time of year they feed, and what side of the lake they live on. A good parody to share is a recent report from the Federal Reserve shows that the dividing line between confident and non-confident is 58 years old. Individuals over 58 show a traditional fealty to price drops. Their experience, over many decades, leads them to believe real estate is sound and enduring. Those non-boomers, under 58? Not so much. They still fear the volatility of politics, interest rates, European contagions, and so forth.