5 Unbelievable Auction Tales: Crypto Offers & Kitchen Concerns

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Transcript

Tom Panos: 0:00

the buyer that bought the property and then came over and said we want to pay the deposit with crypto. This last market wrap to tell you about a few events, maybe five events. Five events that happened this year that gave me a big chuckle. Hey, zach, good to see you. The first one that gave me a big chuckle, ladies and gentlemen, was the car. It was around the middle of this year and it happens a lot. It happens in Greenacre mainly. By the way, a big shout-out, mark Sully and his team I've got to hand it to them, mate Over 300 deals for the year in that Greenacre area. Anyway, so this was in the Canterbury, bankstown area. This property and a car would do burnouts during the auction and it ran out of petrol. It ran out of petrol. So that happens a lot of the time. You'll get a buyer that'll say, hey, while the auction's going on, come up and down the street and do a burnout, and while you're doing the burnout it'll scare people away. They'll think it's a really bad street. Well, they did that. There's only one problem he went once, he went twice, he went a third time, but unfortunately, on the fourth time he stopped and had run out of petrol. Not so smart. The second, most fascinating one of all was when I was negotiating with a buyer on a deal. When I was negotiating with a buyer on a deal and we were just about to get the deal done and the partner looked at her partner I don't know if they were, I couldn't remember if they were married, so let's just call them partners and said I really want it, but the fridge won't fit in the kitchen. And I just looked at them and I said I want to get this clear you really want it, but your biggest concern, the deal breaker, is that your fridge won't fit into this kitchen. She goes yes. I said do you think you should buy the fridge after you've bought a house that suits the kitchen, or do you think it's better to go looking for a house that fits your fridge? And they both agreed it's probably better. The third funniest thing that happened this year was the buyer that bought the property and then came over and said we want to pay the deposit with crypto. Let's move on to the fourth. One Was the vendor who somehow came up with a strategy that their reserve was $1.2 million, but they wanted to make their Vendor bid $1.5 million and then go back to the people and say the Vendor has made a bid on their own home of $1.5, but now they're prepared to give it to you for $300,000 less. They're prepared to give it to you for 300 grand less.

Tom Panos: 3:58

And I'm just sitting here at a place called Liverpool in Sydney, and I've just finished a townhouse, a townhouse that went up for auction and it has sold for $805,000. And what's interesting about that property was the buyer got cold feet at the last moment and did not want to buy the property before the hammer went down. And I know that there are some auctioneers and real estate people that you know. When they sense that a buyer's going cold, they go and knock the hammer down. That's not my style. I don't do that. If I know that someone doesn't want the property, I'll respect their wishes and whether they are aware about retracting their bid or not, I'll actually say to them if you don't want it, just let me know. And that's what actually happened. And we went to the person that they were bidding against, who was only a little bit less, and we were able to get them up and they bought the property at the same price. And that was sale number six out of 10 for the day.

Tom Panos: 5:23

So, after having a few weeks where the results were two out of 13, one out of 12, or thereabouts, last week was significantly better, where it was around 60, 70% sold, and today was also better. Please don't read into that meaning anything, because we clearly know that one hot day does not make a summer. A lot of the results are influenced by a lot of factors the kind of property, the real estate agents and how they actually handled the whole campaign, the motivation of vendors. There are so many factors involved. So quite easily next week I could do one out of 20. Actually, I won't be doing one out of 20. I won't be doing any because this was my last Saturday of auctions for 2024.

Tom Panos: 6:15

And I'm really looking forward. In fact, I did have auctions booked for the 21st. But in light of the, there's a little bit of fatigue in the market and I do also accept that next Saturday there's going to be a lot of people at Westfield. Next Saturday there's going to be a lot of people at Westfield and there's going to be a lot of people that are in a lot of modes shopping mode, hangover, christmas party mode, chill out, family mode. That might not be real estate mode and I decided that what I'll do is do what matters. Thank you, nicholas. And that is spend time with family, and I'm actually taking both my two daughters to New Zealand. We're going to go to Rotorua and we're going to go to Queenstown to get a real feel of Kiwi life and outdoor adventures of Queenstown.

Tom Panos: 7:10

So it's really clear to me that the shift in the Australian real estate market that has seen for a very long time Sydney market and Melbourne market lead the way 2024 and most likely in 2025. No, it is Perth, it is Adelaide, it is Brisbane. That's where it is, and I've got to say to you that I also wanted to use, but I've got to let you know that in 2025, I've opened up my real estate gym. So many of you that join me here I don't talk about it much on my rap, but I've opened up my real estate gym, which is now going for well over a decade, and one of the things that I'm really proud of is we've been able to actually train more real estate agents than anyone else in Australia over the last 40 years. And I've got to tell you that Real Estate Gym 2025 version will include John McGrath as my co-coach and every month we're going to be having an accountability seminar where our members, our Real Estate gym members, will be able to come in and report their numbers calls, connects, appointments, listings, sales what you measure, you manage. In addition to that, I've got to let you know we teach our agents the best way to actually get more deals at higher prices, best days on market. And I'm terribly proud because when I look at the averages in the Australian industry and I look at my real estate gym members, we top about 20 to 25% better than the median. We have real estate gym members that are doing over 300 deals a year when you look at the average agent doing 20 right. So I've got to tell you terribly proud.

Tom Panos: 9:16

If you go to realestategymcomau it is open now susan, my co-pilot, has opened that up it's about 65 a or you can pay up front for $6.50 and you get a bit of a discount. You'll train for the rest of this year for free and in addition to that, you'll be joining me in January where I will work with you and create a business plan, a prospecting plan, a marketing plan, and you're going to be given the total GPS unit, the blueprint for you to actually have your best year ever. We teach you the best dialogue and scripts. I mean, I was using them today. I had one buyer said, oh no, I'm not buying now. I said to them I'd buy if I were you right now, because when you go to Europe in July and you buy a ticket in July, you pay top dollar. You buy your ticket now and in real estate, you buy the real estate now, not in June when rates have dropped and there is three times as many buyers in there. That's what you do, ladies and gentlemen. So, realestategymcomau, if you want to make 2025 your best year ever and you need accountability, particularly on your prospecting.

Tom Panos: 10:34

It's been an absolute pleasure and privilege to come and thank you so much to Be Right Agent. Thank you so much for your nice comments about the real estate gym. You know some of my gym members that have gone off to do our credible work Marcus Ciminello, gavin Rubenstein, josh Teslin the list goes on. Ladies and gentlemen, enough said I want to watch Sydney FC tonight. So, signing off, may you all, if you are Christian, merry Christmas. If you're not, enjoy your time away during this break. Stay well and always remember, have an attitude of gratitude. A happy agent is a successful agent. Let's be happy.