On today’s show we are talking about how the narrative in your mind is selecting the data from which to make decisions.
To properly frame today’s discussion, we need to look at two things:
- The data itself
- The way you process the data
Let’s start with the data. There is no question that the data showing up in the market is contradictory in so many ways. We have the stock market in record territory and at the same time we have economic contraction and unemployment in record territory.
We have record low inventory and rising prices in many real estate markets at the same time as we have millions of properties in financial distress. But almost none of those properties are appearing on the market as distressed properties.
We have rising real estate debt and falling consumer debt.
We have signs of economic recovery and looming signs on the horizon of a second wave of infection coming in the pandemic. Although it’s too soon to say whether that is indeed what is happening.
We have some school boards reopening and others not. How many people will be home schooling their children this year and what will be the impact on the employment workforce of those millions of individual decisions?
People are for the most part paying their rent. What will happen when the emergency financial aid comes to an end?
It’s truly difficult to make sense out of all of these conflicting data points that under normal conditions would be useful in determining the current state of the market.
Ok so the data is confusing to say the least. The question is how are you processing the data and deriving conclusions based on that data?
To answer that question we’re going to look at how people listen. Whether you’re listening, or reading, or watching, you’re processing what is coming at you in one of eight different ways. What I’m going to share with you now is something that I developed a decade ago called the 8 forms of listening.
I’m going to mix a metaphor here. When I’m talking about listening, I’m also talking about reading or viewing. So here we go with the 8 forms of listening.
1. Ignoring listening
2. Partial listening
3. Selective listening
4. Active listening
5. Empathic or sympathetic listening
6. Know it all listening
7. Pretend listening
8. Focused listening
