The Elephant in the Room
The Elephant In The Room Property Podcast with Veronica Morgan & Chris Bates

Episodes

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

The science behind real estate auctions & how bidders can take control.

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.