The Elephant In The Room Property Podcast | Inside Australian Real Estate
Chris Bates
Who's really in control when you buy a property?
The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.
Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.
Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.
In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.
The plan? This property podcast has been created to help us all make better property decisions!
The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.
Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.
Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.
In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.
The plan? This property podcast has been created to help us all make better property decisions!
Episodes
Mentioned books
Jun 9, 2018 • 46min
Ep 5 - Shannan Whitney | The true cost of a lack of trust in the property industry
Confessions of a sales agent; what the future holds and what needs to change. This is quite a philosophical conversation with Shannan Whitney of BresicWhitney about the relevance of real estate agents in our changing world. We talked about many “elephants” and Shannan did not hold back on discussing: Outmoded real estate agent practises How self promotion in the age of social media misses the mark Where industry awards fall short and reward the wrong type of behaviour How the accepted measures of success fail both vendors and buyers Why the current industry structure doesn’t support change The importance of trust in a real estate transaction and how lack of trust hurts both buyers and sellers How published price guides make agents accountable, which is why many won’t commit to them What happens behind the scenes when a low offer is made Decoding “agent-speak” with some handy translations What do auction price guides really mean? The insights in this episode about the offer process will change the way you buy your next property. Links: www.bresicwhitney.com.au Veronica’s blogs on auction quoting: How to decode auction price guides. Video: what do auction price guides mean? See omnystudio.com/listener for privacy information.
Jun 5, 2018 • 43min
Ep 4 - Kate Lumby | How your emotions are targeted before you get to the open house
How your emotions are targeted before you get to the open house. The secret to influencing buyers when selling lifestyle properties. Kate Lumby, sales agent, auctioneer and principal of Lumby Hampson in Sydney’s Hills District, reveals the performance art of property sales. In this episode we learn about: The props used by agents to “sell the dream” How she breaks down the barriers between auctioneer and bidder and gets an opening bid Different buyer behaviour and the buyers who are their own worst enemy How the “elephant” affects agents, vendors and buyers Tips for becoming the favourite buyer of both the agent and the vendor and why some people get to buy a property for less money How she recognizes buyers who are in “peak buying mode” The type of property she refuses to sell How an agent’s mindset will impact the sale price The research property buyers should do How good agents lead a buyer to the negotiation table This episode reveals all the little details that affect the way property buyers behave.Links: Lumby Hampsonhttp://lumbyhampson.com.au/ My Auctioneerhttp://myauctioneer.com.au/ Video - How to set your maximum bid at auction https://gooddeeds.com.au/auction-tips/how-do-you-set-a-maximum-auction-bid/ See omnystudio.com/listener for privacy information.
May 31, 2018 • 40min
Ep 3 - Matt Hayson | What real estate agents say behind the scenes
What do real estate agents really say behind the scenes? This week we interview Matt Hayson, real estate salesperson and director of Cobden & Hayson, which has 5 offices in Sydney’s inner suburbs. Matt is widely known as a straight shooter and doesn’t disappoint in this episode. His insights include: The news buyers should need to listen to in order to make good decisions Different types of buyers and which ones get the best deals How emotion overrides some buyers, even though they’ve done a lot of research How investors manifest emotion in their decision making The challenge buyers have in working out how to deal with different types of agents The conversations top agents have with their vendors behind the scenes Specific buyer influencing strategies used in a buyer’s market Why agents might give buyers “free” advice Why some unscrupulous agents are good for buyers to deal with The danger of relying on auction clearance rates to determine market conditions The truth about pre-auction offers How some vendors cost themselves a good sale price Anybody thinking of buying or selling will find this episode packed full of absolute revelations. How to choose a selling agent cheat sheet (VM to create a form) https://gooddeeds.com.au/how-to-choose-a-selling-agent/ Social Linked In Facebook @teamhayson.com.au √Twitter @cobdenandhaysonSee omnystudio.com/listener for privacy information.
May 27, 2018 • 54min
Ep 2 - Damien Cooley | How successful auctioneers know when to push you to bid more
How successful auctioneers know when to push you to bid more This week we interview Damien Cooley, probably Australia’s most famous property auctioneer, well known for his appearances in nearly every series of The Block. Damien is extremely candid and reveals some absolute gold: How he reads body language and uses it to get buyers to make higher bids. How he creates momentum and urgency How he modifies the way he speaks to different bidders in order to get them to follow his suggestions The signs buyers give that tell him they have more money The circumstances when auctioneers actually want a low bid and why buyers should give them a high one What he thinks about agents quoting “buyer feedback” His hot tip for buyers agents Some of the moral dilemmas he has faced at auctions You really should never bid at auction without listening to this first.See omnystudio.com/listener for privacy information.
May 23, 2018 • 58min
Ep 1 - Simon Russell | Who is really making the decisions when you bid at auction?
In this illuminating interview with behavioural scientist Simon Russell we discover a myriad of ways in which the auction process influences buyer decisions, without them even knowing it. Simon explains how we humans are governed by our emotions, often despite our best intentions and often to our own detriment. When he attended his first ever property auction in Melbourne, he was amazed at how many behavioural biases he saw in action. These are mental shortcuts that human beings take when confronted with complex decision making, and what could be more complex than competing at an auction? In this episode we cover ten biases in an easy to understand, conversational style. Essential listening for anybody who wants to have more control when they are bidding at auction. Free download - behavioural bias checklist: https://www.theelephantintheroom.com.au/podcasts/1 Work with Veronica? info@gooddeeds.com.au Work with Chris? hello@wealthful.com.auSee omnystudio.com/listener for privacy information.
May 14, 2018 • 5min
The Elephant In The Room - Introduction
What's this all about? I’m Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s LLLA & I’m fascinated by consumer behaviour. Hence the elephant: he’s a metaphor for the way our emotions often dictate our actions. I’m joined by Chris Bates, financial planner, mortgage broker and wealth coach and together we’re going to uncover who’s really making the decisions when you buy a property. Each week we’ll get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about why buyers do the things they do. The plan? To help us all make better property decisions!See omnystudio.com/listener for privacy information.
