By Katherine Tarbox, Senior Editor, REALTOR® Magazine
For years, social scientists have been using certain demographics such as age, income, and education level to determine how people make purchasing decisions. Scott de Marchi and James Hamilton argue that six core traits determine every choice we make from how we purchase stock to how we work or date to even if we’ll lie on our tax returns. In You Are What You Choose (Portfolio, 2009), the authors explain how by understanding these traits you can better market to your clients. The read is extremely insightful in understanding how different personalities make purchasing decisions, including homes.
THE SIX CORE TRAITS
Do you want things now are you willing to wait for a larger payoff later? The authors argue that those who regularly exercise and eat healthy will also look at the resale value of a car before purchasing it because they care about the value of something in the future before making a decision. Continue reading »
By Brian Summerfield, Online Editor, REALTOR® Magazine
As Scottish writer Robert Louis Stevenson once said, “Everybody, soon or late, sits down to a banquet of consequences.” In his book Bailout Nation, author Barry Ritholtz lays out the causes and effects of the recent economic downturn in a voluminous feast for the market-minded reader. In a clear and entertaining fashion, he explains how the evolution of big business and big government led us to our current state, and offers important lessons about the interrelationship of money, credit, and value along the way. He also discusses problems that led to a meltdown in real estate, and provides a few suggestions on how to avoid these difficulties in the future.
In sum, if you’ve ever wondered why the Federal Reserve exists, why Bear Stearns was bailed out but Lehman Brothers wasn’t, and why your local classic rock radio station seems to play the same 20 songs over and over again, this book is for you. Continue reading »