Property
Beware Of Social Proof When It Comes To Buying Property
By Stacked Homes  •  May 12, 2020
It’s a Saturday morning. You have your cup of coffee before heading down to open the letterbox (wearing a mask, of course). Among the usual mass of property advertisements, there are 3 in particular that catches your eye – each with its own catchy headline: The most luxurious development in Orchard!Launch of the cheapest freehold condo in Orchard!85% sold on launch day in Orchard! Which headline do you think is the most effective to you? Well, if you’re anything like most people, number 3 would surely be the standout choice. Why? It’s all because of one simple yet powerful concept: Everyone is doing it, so it cannot be wrong.  Psychologists call this social proof. So what is social proof? Social proof is a psychological phenomenon where we use what other people think is correct to decide what constitutes correct behaviour. In other words, we view a behaviour as more correct...
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By Stacked Homes
The Stacked Homes editorial began in February 2017 to provide the latest news and analysis on property in Singapore.
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