FACT V FICTION
Every time we turn on the television, log on to the internet or open a magazine we’re bombarded with someone’s opinion, dressed up as research.
This is especially the case when it comes to property –an asset class that everybody wants to be an instant expert in.
But delve a little deeper in to this so-called research and you will eventually see that it’s not actually based on experience or statistics. It’s usually based on trying to ‘flog’ something.
Maybe it’s a report from a property developer talking about the best type of property to buy – which coincidentally is exactly the type of property they build. Or perhaps it’s just a real estate agent saying ‘now’ is the time to sell –because he needs to meet his quota this month.
In this busy fast-paced social media world, I sometimes worry that we’ve lost our ability to discern between fact or fiction –well, fact and opinion, at least.
The use of social media has transformed how we interact and seek our own information. There is a whole generation coming through that thinks that if someone writes it, blogs it, tweets it or ‘quotes’ it, then it must be true.
When it comes to research and being informed, I’ll stick to the science. We subscribe and pay for the best professional research available. Then we use our experience and our decades of collecting our own statistics and track record to test it even further.
Sure, we all like a good story, but next time you see or hear a report, just stop and ask yourself, fact or fiction?
Until next week,