i turn REALTY into REALiTY

What does Gene Amdahl have to do with Real Estate?

News headlineBack in the early days of computing, Gene Amdahl was a computer scientist at IBM who later started his own mainframe company. At the time, IBM was the undisputed King of the Hill, but Amdahl had a solid product that was a direct competitor to them. IBM’s marketing, PR and sales force used tactics that Gene Amdahl coined FUD in order to crush the competition.

FUD (Fear, Uncertainty and Doubt)

Technically speaking, the use of FUD generally referred to the use of propaganda that disseminated negative information that couldn’t be supported by data or facts. In other words, it was an emotional appeal using Fear in order to get people to respond in a specific way. What does this have to do with Real Estate you ask?

Media as the new IBM

As the housing market was crashing, NAR (National Association of Realtors) set out on a tremendous PR campaign to try and convince people that everything was fine. In many ways, it was the anti-FUD group. Unfortunately for them, nobody was interested in what they had to say.  The organization’s message was deemed to be self-serving. The media, however, had a much more interesting story to tell and as always, bad news gets more coverage than good.

In fact, it seems that you can’t pick up a newspaper these days without reading something negative about the economy or housing market. Instead of just reporting statistics and letting readers draw their own conclusions, it seems to me that reporters are now starting to put their own spin on things, thus creating their own version of FUD.

Let the Need Create the Demand, not the Media

Instead of letting the media and NAR influence our behavior and choices, I believe that individuals should make decisions that are need based. Don’t listen to the media reports or NAR. Make decisions based on your own individual situation and financial resources. Take back control of your own destiny.

What are your thoughts? Do you think the media is influencing your decisions? Are you wanting to buy a home, but are too afraid to pull the trigger because of what you read or see in the media? Leave a comment…

When REALiTY BiTES, bite back!

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