Real Estate Market Wrap 🗞️ I met the worst buyers today!

01:47 – The 2025 Real Estate Market Forecast 
02:46 – W*nker Agents do this! 

My Clearance Rate: 2/10 SOLD

Transcript

Speaker 1: 0:00

And then today, a buyer opens up a fridge. Why would you open up a fridge? When you're coming through a property and you're a buyer, why would you open up someone's fridge? I actually told him I go, what are you looking for? He actually said I don't know, I just opened it up. What are you looking for? To see whether they drink soy milk or almond milk, because you're trying to work out whether they're lactose tolerant. What were you looking for? Why would you open up a fridge? Why would you open up a fridge and in fact, I'm actually putting it out there.

Speaker 1: 0:32

As far as I'm concerned, I think that they should change the auction laws in Australia and what they should do is actually say every property that's for auction. They should do is actually say every property that's for auction. You have to show the agency agreement to the buyers if they ask for it. If they ask how much have you quoted? Here's the agency agreement. That would be great practice. Here's the agency agreement. This is what they want. Okay, bang, right, this is what they want, and I would also put down the comparables that you've given to the owner.

Speaker 1: 1:07

You have one story that's talked about transparency. Right, talks about transparency, anyway. So I also got to tell you I'm sick and tired of the buyers that make 57 changes and don't show up. Are buyers that make 57 changes and don't show up? I mean there are buyers and those that are in real estate that are watching this. You know what it's like. They'll sit there on a Friday, they'll make change after change after change to a contract and then they don't show up. I mean they're wasting time and they're wasting their money. Lawyers aren't going to do that for nothing, right? Anyway, the forecast is really, really clear. The forecast is that we're going to have a challenging period and it will probably remain challenging till there's a rate change Two out of 10. So that makes it two out of 10. So, 100%, we're seeing the urgency in the marketplace has gone in Sydney and Melbourne. But I've got to tell you, you know, motivated vendors, motivated vendors that want to do a deal, are still selling. Right, they're still selling. But I have to say to you, the forecast that we had from Louis Christopher from SQM on the other night is basically tipping. Perth is going to be the standout market next year. Then Adelaide and Brisbane will do well. Sydney, melbourne, tassie are going to find it hard and Darwin is actually doing okay at the moment, right, you know, not great, but he's doing okay.

Speaker 1: 2:47

I want to make it very clear when I talk about numbers, I talk facts. I don't go off and talk about properties that have been sold prior and then fudge the figures. I talk facts, right, and I know that a lot of people don't talk facts, and that's the problem with our industry. You've got a lot of people that have two stories a story that they tell the market wow, everything's great. And then, when it doesn't suit them, bang, they're hitting the vendors, take your price down, wake up to yourselves, wake up to yourself. So it is getting harder, the auctions are taking a lot longer and I've got to say to you that at the end of the day we have, you know you 100% can do world-class vendor management. You can actually send reports every week, you can have vendor meetings every week, you can talk to your clients every day. You can do BIW best in world vendor management.

Speaker 1: 3:52

But let me tell you one thing. Let me tell you one thing there's going to be a group of people that won't sell. End of story. That's life, and those that are in real estate know what I'm talking about, and I've got to also say hey, guys and girls, listen, those of you that are in real estate, whether you're trainers, auctioneers, real estate consultants, property managers talk facts, don't talk crap, right, talk facts.

Speaker 1: 4:18

And as for those, the renter crowds that go off and, you know, buy 2 million followers and get one comment per post, are you seriously thinking that people can't tell? Are you seriously thinking that people can't tell that you're a renter crowd? All you're saying is I have a low self-esteem and I have bought followers, but unfortunately, robots don't comment or like Get real. And as for those that carry on bang, sold this record price, sold it in three days. Listen, I told you before our vendors have had their houses for 20 years. They don't care about you. And your hashtag number one, hashtag killing it.

Speaker 1: 5:02

You don't see plumbers doing it. Hashtag 10 clean sewers today. You don't see dentists doing it. 10 root canals today. You don't see doctors doing it. Best week ever did 150 consoles? Get real, get real. That's the problem. That's the problem with real estate. We actually think to ourselves that nothing else exists except real estate. Let's be honest, gang. What are we? We're glorified telemarketers and we get paid good for it. So shut up and be humble about it.

Speaker 1: 5:39

All I'm going to tell you is that it's good to be back in Sydney. I was in Byron and on the Gold Coast doing conferences and I enjoyed that. But I've got to tell you, those schoolies, man, they were everywhere. They're like cockroaches. You'd walk 10 meters. You thought, ok, that's the end of it, and then another wave of 150 of them came. It just didn't stop. It didn't stop on Johnson Street, byron Bay. They just kept going and going and going. Anyway, team, you know what I realized? I've got to rush to my next option, because I'm doing this in between, I've made up my mind. I'm not going to work on the 21st of December. I'm going to take my two daughters and I'm going to go to New Zealand to actually show them New Zealand. That's what I'm going to be doing. And again, please don't open up people's fridges.