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Word of Mouth Isn’t Good Enough
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TV shows about real estate are my thing. I consider game shows a waste of time, the news too grim, and many mainstream movies insulting to our collective human intelligence. Big media’s preference for overleveraging CGI to cover up for plot holes the size of Uranus had become wearisome. Consequently, I find myself watching more content on property and architecture — topics that combine two of my favourite things: love for real estate and business.
One of the many property shows I watch is Property Wars.
For those who are not familiar with the show, Property Wars follows a number of real people bidding for real estate in the United States. There are 4 property traders, who attempt to outbid each other at property auctions. The nature of the auctions are that each bidder visits the property before the auction date. The catch though is that bidders can only view the properties from outside. They can’t go in for any assessments on the interior. All the bidders go by on auction day is what they observed and conclusions they make by walking around the building.
The peculiarity of this type of bidding is that bidders must make valuation decisions solely on their experience, and observations like what the waste disposal habit of the property owners says about their home care habits. Once a bidder…
