Matthew Ferrara, Philosopher

Archive for June, 2009

What one phrase has done more damage to the housing industry – consumer and practitioner alike – in the last two years? “I’m waiting for the bottom.” Buyers have been sitting on the sidelines, waiting for prices to hit their lows. Those REALTORS who didn’t just quit (200,000-plus of them did) similarly stuck their heads in the sand, waiting for everything to just blow over. “When the market changes,” was the favorite phrase of meetings, workshops, articles and convention speakers. A few out there – the Harneys, the Stavers, even yours truly – continued to plead for sanity. Nobody has  Read more

What do Hyatt, FedEx, Microsoft, and Burger King all have in common? They all started during recessions. And today they each are winning companies in their industries. Every one of them understood that recessions cause both economic uncertainty and reveal new opportunities. Their success is a result of capitalizing on the companies who went into “automatic” mode during good times, forgetting that change, and recessions, always come. One look at these companies today proves that recessions and innovation go hand-in-hand. They either invented or re-invented how their industry performs during a time when rivals tried instead to weather the storm.  Read more

The social networking abuse by REALTORS reached a tipping point yesterday: It seems some virtual tour vendor has made it "quick and easy" to mass-post your tours across multiple networks at once. Oh, goody: REALTORS are about to have no more friends.  Read more

Let's help sellers make better decisions by leveraging their emotional intelligence. Not market intelligence, but emotional. For the first half of the listing presentation, let's take sellers for a ride. Drive them around the neighborhood to see the other homes they are competing against. Get them inside, to see with their own eyes, smell with their own nose and feel with their own emotions what they are up against. Let them experience the newer, older, better, worse - firsthand. Almost like a buyer again.  Read more