Tapping the Market

The Apple Inc. chairman, who recently resigned from the CEO position at the powerhouse computer technology company, gave a commencement address at Stanford University in June 2005. The speech has been viewed millions of times online and is a personal favourite. Here are some of Jobs’ key points, which can be applied to any number of life issues. I happen to see the relevance to Real Estate.

1. Follow your curiosity and intuition.

Typically we’re driven by a kind of herd mentality and want to stay with the “group.” That’s why we have hotspots in real estate. But if you’ve missed the boat on certain neighbourhoods and find the prices out of your reach, think out of the box. What looks to be the next rising area or district? Follow your curiosity and open your mind to new possibilities. Someone has to be the maverick. If you have a long-term view, you will definitely benefit financially

2. Sometimes life hits you in the head with a brick. Don’t lose faith.

Whether you’re a seller or a buyer, disappointing outcomes can be par for the course in property matters. For sellers, an economic downturn can be lethal when trying to maximise the best possible sale outcome. For buyers, a competitive property market can prove heart-breaking when you lose  out to other bidders. But the point is to keep things in perspective, rethink your strategy and aim for the best possible outcome given  the existing circumstances and all the information and experience at your disposal.

3. Don’t settle.

This is fairly self explanatory. Buying or selling a home is a massive undertaking. If you absolutely cannot live with a particular outcome, then don’t go there (providing of course you have given due consideration to the realities). “Keep looking, don’t settle.”

Watch the full speech right here:

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