7 Dec 2025 · 1 min
Tom Ferry delivers a short Mindset Monday podcast emphasizing that market conditions depend on perspective. He recounts a 1930s Bata Shoe Company anecdote: two salespeople reported "here in Africa, no one wears shoes" but drew opposite conclusions—no opportunity vs. huge opportunity—then applies this to today's real estate market, asking listeners to choose their perspective.
How many times you get asked the question, how's the market? Well, I would argue that today's market requires the right perspective, the right point of view. It reminds me of a story I heard years ago about the Bata Shoe Company out of India back in the 1930s, looking to expand their business. Just like you. They sent out two salespeople to go do some recon, to go figure out, can we sell some shoes here in Africa. And once you do your recon, you talk to enough people, you explore enough the territories, write us a telegraph and let us know. Know what we should know. Well, two salespeople not talking to each other, both reported in at the same exact day, and both of their telegraphs started the same exact way. It said, here in Africa, no one wears shoes. And of course, the first person, when he wrote, here in Africa, no one wears shoes, he wrote down below, no sales opportunities here. I'm coming home. The second person had a different perspective. He said, here in Africa, no one wears shoes. Send me as many shoes as you can. Nothing but sales opportunities here. Well, doesn't that summarize how many people look at the real estate marketplace today? Yes. Transactions are flat. Yes. Depending upon the marketplace you're in, it's going to require a different perspective. For some people, this is the greatest market on the planet. And for others, interest rates and tariffs and everything is getting in their way. I guess my question for you on this Monday is, what's your perspective? Because last time I checked, no one here wears shoes.