Real Estate

Sam Zell slams remote work, backs return to office

Remote work is “a bunch of bullshit,” according to Sam Zell, the outspoken real estate magnate known for his colorful language.

“One of the biggest lies in the world is that people working from home are more productive than people working in the office,” the billionaire founder and chairman of Equity Group Investments told a New York University luncheon on Wednesday. “You have much less productivity if you’re working from home in your pajamas with three little kids running around than if you’re in an office.”

The commercial real estate legend received applause for his comments this week, but then, he was speaking to a friendly audience. NYU’s Schack Institute of Real Estate hosted the luncheon as part of its annual REIT Symposium, with real estate execs and many grad students hoping to reach Zell’s level of success in attendance. GlobeSt.com, a trade outlet, covered his comments.

In 2001,

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Real Estate

Three sales tactics rife in the real estate industry and why they work

Buying a home is likely to be the biggest financial transaction you will ever make, and you’re at a distinct disadvantage. You’re an amateur up against professionals — real estate agents — versed in psychological tricks to get you excited about owning a property and paying more than you planned.

These tricks start with comparatively simple things such as making rooms look bigger in adverts by using a wide-angle photography. They extend all the way to the point of sale.

None of these tactics necessarily involve outright lying — there are laws against false and misleading conduct. But they are manipulative, exploiting the fact that humans are emotional beings with many “cognitive biases” — a perception of reality that is more emotional rather than rational.

The three most common tactics come down to manipulating your confidence in your own decisions. Close to 80 studies suggest overconfidence is one of the

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