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The Weekly Take from CBRE
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The Importance of Behavioral Economics and Data in Real Estate
In this chapter of the podcast episode, they discuss the importance of both behavioral economics and data in the real estate industry. They express the view that data in the industry is still in the stone ages compared to other industries, making the psychological component crucial. They debate the concept of data, emphasizing that it can be as simple as comparing financials of competitive properties. The speakers also caution against relying solely on AI and emphasize the need for structured data and a human element in data analysis.
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