7 figure Attraction Agent
Tom Panos interviews leading real estate attraction agents. These agents share their strategies for writing 7 figures year after year. Simple, powerful and effective - you can apply these tips to grow your real estate business today. For more FREE tools visit: www.tompanos.com.au
7 figure Attraction Agent
Real Estate Market Wrap 🗞️ Shifty Banks are now doing this...
There are 3 types of agents, which one are you?
And if you’re a vendor – I would pause listing now and launch on Boxing Day
My Clearance Rate: 8/13 SOLD
I'm going to hand it to those banks, mate. It happened on two occasions today. Listen to this Two vendors I had today have used their current home to go off and borrow extra money and in both instances I saw the valuations instances. I saw the valuations. The valuations were far higher than what those properties were worth by a long shot. So you know what the banks have done. On these two occasions they have allowed Avendor to have their home revalued at a higher price so they can lend them money. And everyone's happy, isn't it? The bank's happy because they make their money out of lending money. The vendor was happy because they were able to take that extra money and do what they wanted to do with it, which I'm not quite sure Buy a boat, pay off their gambling debt, I don't know. But guess what? It's all good till it's not, till you have to sell, and then you're not getting your price. And then you look at it and you realize I owe more money than what the property is worth, more money than what the property is worth. The greedy banks, they know what they're doing. They know what they're doing. Beware, beware. And I can tell you there's another one at the moment. They've done exactly the same in the inner west. And you know what they've done They've taken the property and they're selling it as a mortgagee sale. That's correct.
TOM PANOS:The other thing I'm going to say to you hi Shane, hey John. The other thing I'm going to say to you is that I'm convinced there are three types of real estate agents I meet. The first type is the one I like. They're good, they get it and they tell the truth, and I wish there was so more of them. Then there's the second type, and they, they get it, they can read the play, but they're shifty. They're shifty and they're conniving. And what happens with these agents is they do get some duels across the line, but the word gets out into the market that they're not a good girl or guy in real estate. So unfortunately, they're playing the short game, not the long game. And the short game worked years ago because there were no reviews, there were no social media, but not now. Everyone is educated and recommendations, good or bad, go on steroids with the review platforms, whether you're talking about realestatecom or any of the reviews. So, team, the second type of agent, the one that is reading the play, the one that's smart but is shifty, don't like those either and I don't like having them as clients. Why? Because they're going to be a short-term client. They're not going to be doing well in the long-term. I want to grow with people long-term.
TOM PANOS:And then you've got the other type of agent. They're not shifty, they're just clueless. They have no idea. And I met one today. They just don't get it. They don't get it. They can be working on a listing for five weeks, they could be working on a campaign, taking it to auction, and they have no idea at all that those two vendors you were dealing with were separating. How could you have a relationship with an owner for nearly two months, from the time you go out there looking at it to the time of auction day and it could be three months. They have no idea. They have no idea that they're getting divorced no idea.
TOM PANOS:You know what the guy said to me today, this clueless agent. I go to him, did you know that they're separating? And he goes no, I didn't know that. And I said you've been having vendor meetings, you've been seeing them all the time, you've been talking to them and you had no idea. No, no, they didn't say anything to me. I said I know they didn't say anything to you, but couldn't you put the jigsaw puzzle together? Couldn't you see that they're upset? And you know what he said to me he goes yeah, I did notice that, and he goes.
TOM PANOS:I thought they were tired. I thought they were tired. Did you hear that? I thought they were tired. Did you hear that? I thought they were tired? I'm tired every day of the week, mate. I thought they were tired and then I said to him can I ask you, couldn't you see the two kids he had, a boy and a girl? They're crying because they're upset, that mummy and daddy are splitting up and they're leaving the family home and he goes. Oh, now it's making sense. You see, some agents, they just don't get it. They just don't get it.
TOM PANOS:Anyway, team, it is November 2 and it is important that I tell you and I know the real estate agents aren't going to like what I'm going to say but I actually think we're about a week away from not putting homes on the market this year. No, I wouldn't be doing it. I wouldn't be doing it. I would. Actually, if you're a good real estate agent, you will advise your owner by around November, let's say November 15.
TOM PANOS:Don't go on the market, put your market, put the home on the market next year. And the only reason I say it is there's so much stock in the marketplaces that I'm aware of right, so you always should be selling in isolation, not in competition. In fact, what I would do is I actually used to do this in my own business and I train all my clients to do it, and now there are other people that have started doing it. The offices on the Gold Coast were doing it first. Now there's agents in Sydney doing it, and that that is. You should actually be launching your properties as a soft launch on Boxing Day. In fact, that's what I would do if I was a seller.
TOM PANOS:If I was a seller right now, I would say to my real estate agent I'm not launching now, but I'm happy to list it now. And what I'd like you to do is on Boxing Day, when there are no other homes on the market and when I know because realestatecom tell us this there are more eyeballs on Boxing Day than most other days of the year on their website. I want to be there when people are at home after Christmas day, sitting on the sofa on their iPads, on their mobile phones, looking at real estate and then your property comes up. I'm not even saying you launch it, but it comes up because it'll stand out, because there won't be any other properties on the market. Not only that, think about this for a moment.
TOM PANOS:What about all the other vendors that are thinking of selling in January, that are trying to work out which agent to call? Obviously, if you're the main agent on realestatecom in your area, because you launch stuff on Boxing Day, you're going to actually even get those listings, because listings get your listings. That's what I would be doing right now, team Real Estate. I would be using the strategy list now, launch Boxing Day. That's what I would be doing and then I would start my opens in the first week of January because all the other vendors are saying we'll wait till after Australia Day, we'll finish the Australian Open and then all the buyers are gonna come out and we'll put it on the market. Then you know the problem with that stupid strategy is. So is the rest of Australia, and we clearly know an oversupply of listings is the killer to price growth and that's why right now, vendors are dropping prices.
TOM PANOS:Do you want to know why? Because six months ago I'd say to a buyer when I was negotiating with them. You've got to pay 30 grand and you know they'd say I'm not paying an extra 30. I'll pay an extra 15. And then I'd go back and forth with the vendor and we would probably put the deal together. That was then, not now. You know what happens now. You've got to pay an extra 30 grand. You know what the buyer says Ta-ta, I have one down the road to look at. They didn't have one down the road to look at six months ago. Anyway, team, those of you that are in real estate, I'd be really curious. Who are you? Are you the first agent I spoke about? Gets it and is good and has got decent values? Are you the second agent? You get it, you can read the play, but you're shifty. Commission breath. And then the third agent, the clueless one, has zero idea on what has actually happened. Anyway, team, it's 7.02 pm. I want to go home.