The Seven Stages of Broker Reaction

Appraiser Jonathan Miller, author of the widely watched Douglas Elliman housing reports, runs down on his blog Matrix the stages of reaction for real estate pros facing softening markets:

  • Over hype the positive
  • Spin, misdirection
  • Denial
  • Disbelief
  • Passive acceptance
  • Jump on the bandwagon
  • Over hype the negative

Mr. Miller was writing about a Crain's editorial on real estate hype.

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