Predict the Future of Real Estate
October 28, 2007 – 7:05 pmIf you have read the book Wisdom of Crowds, then you know that the collective intelligence of many is far more powerful than that of one. In fact, so powerful, predicting the future becomes much more accurate.
A new tool called predictify, can help us in predicting anything.
Predict the future for questions like:
What will the appreciation rate in Denver be at the end of 2007?
So far, 15 people have predicted that the appreciation rate will be close to 5.1%
What will be the existing home sales volume for the USA in 2007 (2006=6.5M units), according to the National Association of Realtors?
So far, 135 people have predicted that 5.630 million units will be sold
Once this tool hits critical mass, it will be very powerful.
One Response to “Predict the Future of Real Estate”
Last evening, while talking with a fellow co-worker over a few Guinness at the local Irish bar, I had a revelation. Al Gore is a parallel to the future of Real Estate. The discussion was about how Al Gore brought the world up to speed about our environmental situation. As my friend put it, “He may have given up the Presidency of the greatest country in the world for a higher calling. Possibly single handedly saving the planet.”
How did he do it? It’s so simple it hurts! He climbed into a tour bus and headed to auditoriums and libraries all over the United States. He was armed with valid statistics from internatioanlly known scientists. He was armed with a laptop computer and a power point presentation.
Let’s review: statistics, technology and environmentalism.
Fellow Realtors that is the future of real estate. Our future home buyers don’t care that you have been in the business for 20+ years. They care that you have statistics current to today’s market. Not the market 10-15 years ago. They won’t be blinded by your old school sales tactics like talking slick to cover up the fact that you really don’t know that answer. They don’t want to read your newspaper ad. They want to go a website and watch a video about you. And guess what? They’re not impressed by your new Hummer or Escalade. They see it as wasteful and as a slap in the face to living, breathing creatures everywhere.
Realtors: Change with the market, before the market changes you.
By Ford Craven on Nov 20, 2007