Episode 7 | Are pre-auction offers really in a buyer's best interests? | Mary Anne Cronin, Phillips Pantzer Donnelly

The inside scoop on why more properties sell before auction in a slowing market.

Mary Anne Cronin, sales agent at PPDRE in Sydney’s Eastern Beaches, talks about buyer behaviour in her patch as well as sharing insights into the whole pre-auction offer process. Here’s what else we talked about:

The precise point in a marketing campaign where buyers lose interest
How she works both buyers and vendors in a slowing market
Meaningful questions buyers should be asking real estate agents
The decisions buyers need to make when trying to upgrade into a house

And we get the answer to that multi-million dollar question: why are prices so high in Sydney’s Eastern Suburbs?

Chris BatesJune 18, 2018de-index

Episode 6 | Learn how to sort through property data and choose what's important | Kent Lardner, JLL Australia

Don't believe the hype! What property statistics can you rely on?

Kent Lardner is a “geek with a personality” and he tells us why knowing a little bit can be dangerous, largely because of the inconsistencies & nuances of data, of which most of us know nothing. In our chat we cover:

The trouble with median sales data
How agent bias can affect vendor price expectations
What goes into an AVM (automated valuation model), when they are used and why automated estimates vary so much from actual sales prices in Australia
Technological advances that might soon mean machines replace property valuers & real estate agents
Short term and long term indicators that predict capital growth
Tips for making an objective assessment of property value so you can work out what to pay

If you want to make better property decisions, this episode is a must-listen-to!

Veronica MorganJune 15, 2018de-index

Episode 5 | The true cost of a lack of trust in the property industry | Shannan Whitney, BresicWhitney

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:

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
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

Chris BatesJune 10, 2018de-index

Episode 4 | How your emotions are targeted before you get to the open house | Kate Lumby, Lumby Hampson

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.

The props used by agents to “sell the dream”
Different buyer behaviour and the buyers who are their own worst enemy
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 good agents lead a buyer to the negotiation table

This episode reveals all the little details that affect the way property buyers behave.

Veronica MorganJune 6, 2018de-index

Episode 3 | What do real estate agents really say behind the scenes? | Matt Hayson, Cobden & Hayson

Matt Hayson, real estate salesperson and director of Cobden & Hayson gives insights including:

Different types of buyers and which ones get the best deals
The conversations top agents have with their vendors behind the scenes
Specific buyer influencing strategies used in a buyer’s market
Why some unscrupulous agents are good for buyers to deal with
The truth about pre-auction offers
How some vendors cost themselves a good sale price

Veronica MorganJune 1, 2018de-index

Episode 2 | How successful auctioneers know when to push you to bid more | Damien Cooley, Cooley Auctions

Damien Cooley, probably Australia’s most famous property auctioneer, reveals some absolute gold:

How he reads body language and uses it to get buyers to make higher bids.
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
Some of the moral dilemmas he has faced at auctions

Chris BatesMay 28, 2018Property Minds

Episode 1 | Who is really making the decisions when you bid at auction? | Simon Russell, Behavioural Finance Australia

Behavioural scientist Simon Russell shares 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 property auction he saw clearly how the whole auction process is designed to tap into our hidden biases.

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.

Chris BatesMay 26, 2018Property Minds

Episode 0 | The Elephant In The Room: What’s this all about?

Welcome to The Elephant in the Room, where we'll talk about the things that nobody talks about...

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia is joined by Chris Bates, financial planner, mortgage broker and wealth coach. Together They’re going to uncover who’s really making the decisions when you buy a property.

The elephant is a metaphor for the way our emotions often dictate our actions and the unbeknown to us, the elephant is often the one in control.

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!

Chris BatesMay 18, 2018PROPERTY MINDS

Episodes