“Ignorance more frequently begets confidence than does knowledge.”
– Charles Darwin
The “Dunning-Kruger Effect” is a simple, yet brilliant notion, but not because my name is attached to it (I am not related to David Dunning, who was one of the Cornell researchers behind this concept). It states that people tend to overestimate their competence and underestimate their incompetence in various areas.
Another way of saying this is that many folks don’t know what they don’t know and they think they know more than they really do. This is the definition of ignorance.
There are fundamental aspects of the real estate business that were not understood by buyers and sellers when I began over 33 years ago. They continue to be disregarded today. Ignoring these basics can be a costly mistake.Read More