Shaving Away Unnecessary Assumptions

Daily I receive an e-mail from Wordsmith.org with a new word for the day. The word of the day for May 17, 2010 was: Ockham’s razor or Occam’s razor. William Ockham (c.1288-1348) was a logician and theologian who stated: entities should not be multiplied needlessly. The idea is that the simplest of explanations is more than likely correct. For example, medical students are instructed, “When you hear hoof beats, think horses, not zebras.”

A razor shaves away unnecessary hair and the principle Ockham is famous for shaves away unnecessary assumptions. Another way of looking at the idea is that all things being equal, take the simpler explanation. The acronym, KISS, or “Keep it simple, stupid”, is based on Occam’s razor.

How does the principle of Occam’s razor apply to buying and/or selling of real estate? One example that comes to mind is when a home has been on the market for awhile and the sellers wonder why no buyer has written an offer or buyers and agents no longer come to see the home. I’ve heard over the years a myriad of rationale: the weather is too bad or the weather is too good, the agent isn’t doing enough marketing and advertising, the time of the year buyers are busy doing other things. These are all possible but not as likely because I’ve found that buyers have bought homes in all kinds of weather, no matter what kind of marketing and advertising the agent has or is doing and homes have been known to sell all four seasons of the year.

The simple reason most homes don’t sell is due to being over priced relative to the condition of the property and the current market dynamics. Focusing on price first is like thinking when you hear hoof beats that it is probably from horses. Other rationale is like thinking zebras when you hear hoof beats.

The best way to be in tune with the current real estate market dynamics is to counsel with an experienced Realtor. The Huckaby Briscoe Group would be delighted to be of assistance in providing that market consultation. Please visit our website for more information at: http://www.HuckabyBriscoe.com or contact Karen Briscoe at 703-734-0192 or Homes@HBGroup.us.