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When it comes to understanding or anticipating customer needs, we often assume we know more than we do. We often experience biases, such as base rate bias, that may cloud our judgement. Common misperceptions in the self-storage industry include: My customers will move out if rents are raised above the street rate, or above a…

As of this blog, 96.7 million people in the U.S. have been fully vaccinated, or over 29% of the population. 141.8 million people have had at least one dose, and 67.9% of all seniors are fully vaccinated. We can be optimistic in seeing such high vaccination rates in so short period of time. Now may…

Psych and price often don’t mix. Consider, for a moment, the following example: Mark is a hands-on, operationally minded person in the U.S. with a keen interest in real estate. In fact, he has joined a local real estate investment club. The club researches and “games out” which properties to buy, especially commercial properties. Which…