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
Powerhouse Partnership: Diamantidis & Nair Launch Ray White United Group 🔥
It's official: Peter Diamantidis and Shiv Nair are merging. The Ray White United Group will be redefining real estate leadership both in their offices and in the market. 🤝
In this webinar, Tim Snell, CEO of Ray White New South Wales/ACT, also reveals key trends shaping the future of real estate—and why your appraisal numbers are the strongest indicator of your future sales. 📊
A strong brand isn’t just about recognition—it’s about delivering results!🔝
Peter, I've got to say how long have I actually known you, pete?
Peter Diamantidis:We did our first interview in 13 and I met you in, I think, 2009 or 10.
Tom Panos:Okay, and I remember you coming to News Corp at Alexandria and we were sitting in there. In fact, I was just having a look. For those of you that want to take this further today, I'm letting you know that if you come into the real estate gym and I'm going to just bring it up here under presenters I'll bring it up here. Come into Zoom. I'd love you all to scroll down after today, because we've only got half an hour today, but what you need to do is to sit down. Scroll down to P Peter Diamantidis, and what I'd love you to do is have a look at the content that we've had for Peter. This was this year, making 250 deals a year. This was his ARIC presentation, which he blew off the park. This is when Susan was involved in an interview. This is when you came to my home and then we went and had Japanese I don't know if you remember that day Yep, yep. And this is when you were a little pup. Yep, there, right, how many years in real estate, peter.
Peter Diamantidis:This will be end of the year will be 23 years.
Tom Panos:End of the year will be 23 years. Okay, years. Okay, now, peter, tell people who are watching this a little bit about your background in real estate. You in fact worked for one real estate office for a couple of decades before you actually went out on your own.
Peter Diamantidis:Yeah, so a lot of people know my story, but starting at the age of 15, Australian real estate was my first ever job and I was there at that one place for 18 years, okay. You know how many offices now.
Tom Panos:Yesterday five and today there's another one, which we're not going to tell people at the moment, but yesterday it was five, Correct, but today it's six, which we're not going to tell people at the moment. But yesterday it was five, Correct, but today it's six. But you don't know where. We'll tell you in a moment how many sales, did you do, pete?
Peter Diamantidis:So this been the year I should crack, settled between 330 to 350.
Tom Panos:Okay, so how many staff in total have you got across your companies?
Peter Diamantidis:All companies now onshore just over 100, and offshore 25.
Tom Panos:Okay, so you're known as being the million-dollar agent factory because you've got a process and your process is very simple and I've seen that with my own eyes. Ellie is an example. Comes in what was he before?
Tom Panos:He was a hairdresser working as a hairdresser, cutting people's hair, comes into real estate. They start off as junior agents trying to master two real skills working buyers and prospecting correct, correct. And then what you do is you move them up and they're in an EBU and during the EBU period they're fine tuning qualification with buyers, following up buyers, showing property, committing buyers to give an offer. They're not actually putting the offer to the vendor themselves, they're not putting the deal together, they're actually essentially just learning great buyer work and at the same time they're learning prospecting, and that's door knocking on the phones. Peter, you showed me the stats. I saw them with my own eyes. That last month, where you showed me the Nurture Cloud calls, your company's got number one in the Ray White group in New South Wales or Australia.
Peter Diamantidis:Australia White.
Tom Panos:How many calls was it?
Peter Diamantidis:Just under 24,000.
Tom Panos:24,000 calls. So these people, they're on there doing calls. You also have people offshore doing calls for you, correct, and then you move. And then the next step is what? They become a standalone agent.
Peter Diamantidis:Yeah, they become a standalone. So a bit of the process. If we rewind it back. Ellie's a good example came on as an associate, of course, stuck with me like glue pretty much. So what I've always found is that you want them to basically leverage off your results, leverage off your name. You know, when somebody starts new in an area, you always get this brochure in the letterbox that says me, I'm new to the area. You know what I mean.
Peter Diamantidis:We didn't want that. We wanted it to basically mean Peter's with Ellie, for example, which means that we're together. We would go to appraisals together, we would show buyers together, and that started to then rub off. Next step to that is even being an associate. We wanted to make sure that their face was in the community. They're on signboards, they're on DL drops with me, everything like that. So it started to become a trusted name in the area. So everyone knew Peter, but now they know Ellie. And then now from Ellie you know, if we fast forward many years, he's running technically his EBU and it's the same thing. His associates are running off his name. So it's like a legacy, if you know what.
Tom Panos:I mean. So who's the main agent, Peter, and how does it work? The main and the secondary agent?
Peter Diamantidis:So what we normally do is let's say for me it's a little bit different. So let's say in the audience if you've got a selling principle, number one rule I've always done is you need to put your associate first and you need to go second. Now sometimes you might feel uncomfortable with that because they may not know the ropes, but you're following that, that campaign right through. So for me, for my associates, why we don't get too many associates that will end no associates that will ever leave our business, is we make sure that if you're a standalone, if you're working underneath me under we call it Pete's Academy we want to make sure that you know you, you get a lead in. If it's an appraisal, we convert it together.
Peter Diamantidis:You go to main agent, I go second agent. So if you go into realestatecom now, you might say, oh well, peter's only sold 260 or 270 properties in 12 months, but it's because the the main, the main goal for me is to grow these agents faster. And how can you grow agents faster if you don't put their names on anything? How many times have you seen associates where they've been an associate for two years and you go who's this person? You're not even an assault sign. You're not even as an agent, so you manage the whole process. You look at the vendor reports, you have the meetings together, they're answering the calls, so you're pretty much chucking them in the deep end faster, but you're guiding them through the process.
Tom Panos:Okay, pete, have you got any feedback you can give us on the timing it takes to get someone who's a hairdresser or no experience in real estate, comes through Pete's Academy and then comes through the funnel and becomes a standalone agent? How long can they do that process in?
Peter Diamantidis:The quickest I've had is eight months, and probably between eight to 15 months. If you said an average that I've had go through for our business eight to 15 months.
Tom Panos:Okay, so we clearly know that the prospecting side of your business is them doing calls and door knocks.
Peter Diamantidis:Calls, door knocks, so if I start the process, you know coming soon, so I don't call them just listed coming soon. Knocking around properties. You know advising them that it's coming onto the market without commission breath. So you want to be more of an advisor advising people when a property sells, when a property is listed, uh, your database, the good benefit we have is and I don't know if you've got many um, you know um gym members, anyone watching that's with rain, white, but our nurture cloud uh system, uh, it just tells us what to do every day pretty much, so we don't have to do things manually, okay.
Tom Panos:But apart from the outbound phone calls and prospecting and the Nurture Cloud, your business is really heavy-duty on marketing, really heavy-duty on content, going out, giving awareness of the Diamond TDs Ray White group, and that includes digital, I mean obviously social. And just tell me what is the marketing, what does it look like and what's the frequency and the consistency of it.
Peter Diamantidis:So it's like a blueprint. I always believe, you know, in starting this journey, when I opened the first office in 21,. You need brand awareness. Now brand awareness is it doesn't give you automatic success. You're not going to get people ringing you off a DL drop or I've seen a signboard, but I wanted to make sure that it was consistent. So from the first moment when we started doing, say, 5,000 letterbox drops to now that we're doing, say, over 100,000 in one month, it was consistent. So it was the same thing. It'd be Bray White, diamond, tidus Group. It would be these are what we sold. This is what we sold. So it was basically every month in your letterbox, in your emails, via text message, everywhere that you could look, we would be on the shopping list. So that was the number one rule I've always believed in.
Peter Diamantidis:I know with some agents, you know they may think that doing a DL drop today, you're going to get a phone call today, but it's playing the long game. I've always played the long game and you know that, tom, I've never been this one. That's, you know, looking to. You know, get somebody right now and sell, I'd love that. But you've got to nurture it and the first thing is your letterbox drops, uh, your your dl's, uh, it could be social media posts. Now, in social media, you know I'm not going to get 4 000 people, you know, sending me messages to say to sell your home, but guess what, when the time comes? And they, peter, I've been following you for three years, you're doing well. Now you know, I want you out there to give me an appraisal. At least I'm one out of three agents. I never had that other opportunity. So the key word and everyone talks about it it is consistent. Consistent marketing locally. Consistent marketing digitally. If it's just your sub-statistic drops, whatever they are, it needs to be consistent.
Tom Panos:Okay, I want to ask your time. I think it's a real skill to run a business and to run an EBU and I think if you've got the ability to do it right to run a business and run an EBU you tick both boxes, because you can make a hell of a lot of money and show leadership by leading by example if you run your own EBU, because when you don't do that, you're like the dictator do that, do that, do that. When you're doing it, you're leading by example. But, on the same token, man time and trying to do your EBU as well as all these other bodies hey, pete, have you got a moment? Hey, pete, have you got a moment? Hey, pete, have you got a moment? Pete, have you got a moment right? Any ideas that you can share with people that are principals, that are also running our directors EBU on managing that?
Peter Diamantidis:definitely so. The first thing they'll be basically doing is sitting down like, let's say, tonight, sit down at seven o'clock. Make a list of things that you can delegate, you know? Does that mean? You know? You know the staff are calling you because they're sick? That day needs to be delegated. Are you paying?
Peter Diamantidis:you know the payroll yourself delegate it um, you need to delegate anything that uh is non you know dollar productive. Now some people might say we're running a small business, we can't afford it. Get a va spend 15,000 10,000 a year. Let Let them do the payroll.
Peter Diamantidis:I started to eliminate a lot of things out of my life, so you know a lot of my personal stuff. Where I was doing, you know property development and things like that I've made sure that that's after 6 pm. Now you know what I mean. It's not happening at 10 o'clock, and then I'm coming for open houses and things like that. So I've structured myself. Every Sunday I sit down, I look at my week. I have one day off, what I call one day off, meaning I'm not going to be in the office. This week will be Thursday. So then I work around that With my vendors. Everyone's on WhatsApp, so it could be voice recording calls, messages. They're getting updated. My EBU are sending the vendor reports, uh, the ebus that you know are doing. You know my associates are doing. You know your copyrights, your vendor marking, whatever it is. I'm basically listing, selling, negotiating. That's pretty much it. That's all I'm doing. But it just comes down to structuring your day.
Tom Panos:Beautiful. Now what I'd love to do is bring Tim Snell on and Shiv Nair on. Okay, so Susan in the background. I haven't seen Tim in ages. How are?
Peter Diamantidis:you Good to see you.
Tom Panos:Tom, good to see you. Tim, good to see you. Let's bring Shiv in as well, susan, and I hope it's not confusing because no, it is, and there's the great man. Wow, good to see you, shiv, good to see you. You too, mate, I saw you. You're still doing your bench press. I was looking at you the other day doing his bench press, staying fit.
Shiv Nair :Just being inspired. By you, mate.
Tom Panos:Yeah, 100%. Now listen, I'm just getting nervous here. I've just seen my computer go to low battery. I'm stressing yes, it's turned back on, beautiful, turned back on there. Let's bring that back there. Tim, you've got to be terribly proud as the Chief Executive Officer of the Ray White Group. You've got to be terribly proud when you see, well, both are young men. You know you've had a number of young men join the group New Business Energy. Shiv joined. How long after? Who joined first, shiv?
Tim Snell :or Pete. Pete was first. Shiv was a year after. Yeah, he was the longest onboarding of my entire life.
Shiv Nair :I think it took about two years.
Tim Snell :Those cupboards behind you took about two years.
Tom Panos:Wow, wow. Frequency builds trust. But I've got to tell you there was a lot of frequency there by the sounds of it. So I've got to tell you, tim, when Peter said to me, tom, I'm going to open another office, the first reaction, if you remember Peter, was, pete, slow down, there's five in a short period of time, bet them down. And then he says it's not as what you think, I'm actually going in with an incredible operator. This guy is one of the best. He then mentioned the name. Of course, I know Shiv very, very well. I've been to Shiv's office for at least 15 training sessions, or 10 to 15. And I know what a great rider he is. So, shiv, you're still riding a few million in GCI, aren't you? Yeah?
Shiv Nair :yeah, so last year was the best so far. We finished up in about 3.2. Yeah, that was good Okay.
Tom Panos:Well, let's take this opportunity, because we are live on social media as well. Tim, maybe, as a CEO, you formally announced the new joint venture, or which way you want to describe that's happening out there in that part of the world.
Tim Snell :Yeah, 100%. I think this is a really exciting thing for a number of reasons, because there's multifaceted, obviously, I think the first thing that's worth mentioning is the Diamantidis group is no more. Ray White Diamantidis group is ending, but it's happening because of a really positive move and we're actually really happy to announce the new group formed, called Ray White United Group, with Peter Diamantidis good office, and that's going to be the merger which I'll get these two to talk about. But I think what this represents for us as a network is really the direction of where we've been going as a franchise for the last four or five years, which is support of scalable business, of big business and, ultimately, the support of leadership. Um, we know when, when, when peach joined us, and peach is one of many of our great multi-office leaders.
Tim Snell :We believe that leaders, their primary purpose, is to create leaders. It's not just about being number one, being out in front and just being a great writer, which Peter is and certainly Shiv is, and we've got many of those inside of our business, but they're the ones that aspire to make others better. The first responsibility of our business owners is to control their own backyard, to control their core market. Shiv Nair sits there and he's constantly between 30, 40 and upwards of 50, depending on if he's had any holidays or not a percent market share of his core market of Glenwood.
Tim Snell :Pete started in St Mary's, constantly sitting in that 40, 50 and 60, sometimes depending on the month market share of St Mary's as he's expanded into St Clair, expanded into Rudy Hill and everywhere in between Mount Druitt, he just continues to grow market share, not because he's a great individual, which he is, but because of the people that he brings in the business and develops. So this Ray White United group, which I think it's probably better for Pete to explain, is a real celebration of that. It's not the celebration of the individual but the celebration of the many, the collaboration and the power of those people working in collaboration. So on behalf of the whole Ray White group, we're really excited to announce that collaboration, that partnership and that continued partnership as we've renewed our relationship with Peter as part of this union as well.
Tom Panos:Beautifully said, tim, beautifully said. I want to put it to you both guys. Why the merger in the first place? Why the merger? Why are we taking west meets north? What's the reason? Because one's north, one's west right. Why the merger Over to you boys's west right? Why the merger over to you boys?
Peter Diamantidis:well, um, I'll start first, you don't mind shift. So so I've known shift for 10 years. Um, you know we both came from from different networks. You know we're in the ray white group. Um, you know, if everyone, anyone knows me, I'm very ambitious, I want to keep growing. Um, and I've known shiv.
Peter Diamantidis:Conversations you know took place where you know he's also growing in in the hills market as well and I thought it was, you know, a great understanding. Then, you know, rather than you know, peter come, you know, with with his team, to the hills. We merge with uh, with a great operator, a great salesperson, a great salesperson, a great team over there off ship. So, knowing ship for many, many years, I thought it would be the best move to do. You know and you know United, we are one. You know we had a good think about it when I opened up this business.
Peter Diamantidis:Diamond Teters Group. Reason why I used Diamond Teters Group was I was in some areas. You know everyone knew Peter Diamond Teters. They didn't know Ray White at the time. Um, reason why I used diamond titus group was I was in some areas. You know we, you know everyone knew peter diamond titus. They didn't know ray white at the time, similar to shiv. You know shiv will explain. You know his story with ray white. But now that we're growing into other areas we do have very good leaders, team members, uh, that we're growing into the business, um, and it's not just in you know, one or two locations. In some cases it's probably more than double digits and I think it's the best move for us to do Over to you, shiv Shiv.
Tom Panos:why did you do the merger?
Shiv Nair :Yeah, like what Pete said, we've known each other for a very long time, about 10 years. We actually met when we were working at Raynard Horn, which was a very, very long time ago, when I first started real estate what 10 years ago?
Shiv Nair :And for me having someone like Pete next to me to further grow is what I was looking for and, like what Pete said as well, this office is the first of many which we can then work on and further grow in the hills as well. So having someone like Pete next to me, who again is a proven and, you know, very successful business owner as well and leader, you know, someone I can also learn from as well and grow with, so he really made sense for us and again with him, like I said, I've known him for a very long time and I trust him as well, and you know we're quite excited and the whole team's pumped you know to I ask you mentioned before.
Tom Panos:You do have other case studies of franchisees that have got multiple businesses in the group and I'll just get you to unmute when that happens, okay, so because I've always Tim, I've always had the view that sometimes it can get overwhelming. What have you seen as common denominators of people that are able to run multiple offices?
Tim Snell :Yeah, look, the answer to that is really simple. It's that you can't do it by yourself. You know there is some exceptions to the rules and you know there is a lot of guys, including our own network, that really do lead from the front. And, to be perfectly clear, both Peter and Shiv have spent the last four or five years really doing it all by themselves and it's a real credit to them the amount of energy and effort and you know blood, sweat and tears they've had to put in to get it to this point. But when you get to a certain size, when you get to a certain point, and certainly when you actually add the really difficult part, which is to add a second premise, is how do you transition culture? Because it's really easy to maintain culture when you can see everyone there around you. You can listen to them on the phone, you can see how they show up, how they dress, you know how they appear, you know whether they're actually hungry and humble and smart. But what happens if they're down the road and you're in St Mary's and they're in Mount Druitt, you know Well, you need other people that are invested in the vision. So number one is you can't do it by yourself. You need other people that are invested.
Tim Snell :But number two is you need a real clarity of vision, and you know this concept of united group, this concept of what that stands for.
Tim Snell :I mean, yeah, it's going on the sign boards, yeah, it's a nice name, but it actually means something you know it's.
Tim Snell :It's a way that we show up, it's the way that we treat each other. It's a standard that not we, that we don't just hold as leaders, but it's actually as the players on the field and the performers hold each other accountable to. And the clearer that vision is, the more our people are empowered to actually keep each other accountable and raise that bar for each other. Not only does that actually work for the team members we've already got, but, more excitingly, it attracts other people, people that maybe see that vision, see that culture, see that energy, and they don't have it where they have. And I'm talking about people that are looking to start in the industry, people that are inside this gym not that we're using this for that purpose, but you know people that suddenly go man, I can feel what these guys are about, and it's not just talk, it's real and it's backed up by action. You know, that's what I would say is really consistent with all of our shops that succeeded this space.
Tom Panos:Tim, or maybe I'll ask better direct was there a lot of resistance, or was it difficult for you to come to the decision that, by name, the name that I'm born with is no longer defining the companies that I've built?
Peter Diamantidis:Not at all, and this is where it comes to. Before we started this about being a salesperson and letting the associate be the main agent. Reason is you need to take your ego, you need to take you away. Now it doesn't mean that I'm out of the business. I'm still selling, still listing, still managing. But it's about the team, and this is where it comes down to. Leadership comes your team, comes before you.
Peter Diamantidis:Just remember that if you can't do that, it's like winning awards they're great, but I'd prefer to have 10 of my team members be on the stage and I'll be 11th, because you know for them, it means a lot more to them. You know, winning those individual awards. And that's what we want to do. We want to, we want to grow leaders, we want to grow winners. Um, and and I think that's the best way to show it is I've taken my name out of the business, she's taken his name out of the business. We're not here to cry and, oh, you know, I wish I did this. I even hate using the word director, you know, because you know I like using the words founder or leader or something like that. You know what I mean, tom. So for me, definitely, it hasn't affected me one bit.
Tim Snell :I think there's a natural maturity to this, though you know you take a look at a lot of our businesses that have built their business off of their name and you're looking at two directors that have done this, and we've got plenty of people in the Ray White shops that have had success doing this. It really does make sense when you are the brand, you are the name to put that out there, but it shows the maturity of where this business is at that. The business has become bigger than the leader and you know we've seen a lot of people that come into a business like the Diamantitas Group and you know, leveraging that name. It's so good for them when they have no name themselves. Tim Snell means nothing in the community of St Mary's. So for me to pick up the phone and to say, hey, look, it's Tim Snell on behalf of Ray White, the Diamantitas Group, I get in a lot of doors, I get an instant credibility, but I get to a natural point where I go well, I'm Tim Snell and I'm my own man or woman and I really want to be able to say, look, I'm Tim Snell from Ray White, or I'm Tim Snell from Ray White, united in this case, and I'm empowered to actually build up my own profile, my own team, and I'm not being sort of seen as second fiddle to the director. So I think there's a time and a place. But if you look at these long big businesses that you've asked about, a lot of them have started on this path. But when you're looking about businesses that have gone through longevity, that have got legacy and that have grown beyond just the individual, this is sort of a really a lasting model.
Tom Panos:Yeah, well, I've got to say I can see Tim already because I know both these gentlemen. Can see Tim already because I know both these gentlemen. And as a proportion of listings, auctions versus private treaty, shiv's very, very heavy on the auction front right Diamond Teed is. He's been growing his proportion of auction listings versus private treaty in a marketplace that traditionally has been a for-sale marketplace. So I can see the benefit there. I can also see SHIB's price point is about double, I would assume, or triple or triple, right. So there are elements there that I can see the relationship is going to go two-way. And you know, quite frankly, I would suggest that you know real estate agents that are shivving in your marketplace and the surrounding marketplace would know that they're going to have what was already a very strong Ray Wyatt office become a super strong Ray Wyatt office. Yeah, 100%, I'd be there. But, gentlemen, it's really, really good to have you. Congratulations and thank you for the opportunity of using our real estate gym platform on a Tuesday afternoon to share that message out there. So outstanding, tim.
Tom Panos:One final thing You've got the most. I mean the Ray White Group is the largest group in Australia, in Australasia, australia and New Zealand. You've got the data set that no one can match. What are you seeing, just for my gym members to see and also the wider community that's watching it on social media? The forecast for the future. You know we've got a few layers of elections, holidays, easter we've got a lot of things going on. What's the view of the Ray White group and I know you employ multiple economists in your group what's the view there of the future?
Tim Snell :Well, I reckon the most value I could probably provide your people today is not what you already know. We already know what's happening with listings, with days on market. We know that the auctions are a little bit tighter, buyers are a little bit more hesitant. There's a little bit of unknown. So we know all that. But here's the most interesting thing is our biggest lead indicator at Ray White. And when I say lead indicator, listings are already listed, solds, already sold, like that stuff's already done. You can make incremental changes to those things but frankly, that's a reflection of the work that was done six to eight weeks ago, which is our appraisal numbers. And so we watch our appraisal numbers really religiously because it is a absolute foresight into the future.
Tim Snell :And what's interesting is this Our appraisal volume has dropped off a cliff, like not a short little decay, like a sharp decline. And there's a reason for that People are needing more energy to sell stock, so they're putting more energy into the sales. They're having to keep sales together and spend a little bit more energy there. Listings are slowly listing volumes are slowly starting to creep up if we're not able to clear them. So we're seeing a gap starting to grow between those that can clear stock and those that can't, because some are getting frustrated with overpriced vendors that have already priced in maybe the next six to 12 to 24 months worth of value. That perhaps hasn't been reflected by buyers yet. But like night comes to day, what we're currently seeing in the volume of appraisals being conducted is that we're going to be heading into a very light listing month coming into the future and maybe that's not a problem if you've got heaps of stock that you can't sell. But naturally that's going to become a stock shortage, heading into the sort of cooler months if something doesn't change quickly.
Tim Snell :So we're really worried about that. Worried's not the right word, you know, but we're really. We're talking about that a lot because you know, if we saw a small decay, naturally we'd head into winter months and that's normal. But we just know that we need consistency, we need stock in and stock out and as soon as our guys focus on just one side, you know unbalanced to the other, we're going to end up in a bit of a crisis where we actually don't have enough to sell. So I think there's plenty of opportunities. Clearance isn't 80%, but we're spoiled in New South Wales. If things aren't 80%, we think the market's bad, the market's balanced. You can do a deal. It's a little bit harder but frankly, buyers are buying and sellers are selling. If you can do a, can do good stock management process, but our best businesses are still focusing on keeping consistency in pipeline, because we know that some businesses aren't and those businesses are going to end up with a cold winter.
Tom Panos:Well, that's a very, very I mean. I'm not happy hearing the observation because I myself also know when I'm dealing with agents at a micro level, not a macro level. All I know is if you've got a good listing month, in March's going to be a significant drop in gci commissions in real estate across the country. The only thing is tim is if there's an election result that favors property more, right, I'm not going to go in and say if this government gets in there, is there a possibility that post may 3 you just get a glut of people that decide that's it, we're going to put it on the market centre. It is good, but they're going to have to do it pretty much soon in May, because you know what June and July look like, don't they?
Tim Snell :Well, like, here's what we know. Right, here's what we know is that the Sydney marketplace is the most volatile, and that's a really positive thing, I think, because we're always the first to be hit negatively when you know interest rates go up or there's uncertainty. You know, you take a look at what's happening in the stock market in terms of uncertainty around global tariffs and all that kind of stuff, and Sydney and New South Wales are usually the most impacted by that and I don't really know the reason why, but we just are. But the really positive thing to that is that we're also the first to bounce, we're always the first to respond, and if you recall the last time property was such a hot topic of the election, I would say I mean, it's hot every year, but it's not so much the last election but the one before. If you've been around long enough to remember that, you'll remember in the weeks leading up to that auction like if you were lucky to even have the vendor at your auction, let alone a buyer and literally the week after the election, liberal got in.
Tim Snell :When we didn't anticipate, like everyone thought that Labor was getting in, liberal got in and like all that talk about negative gearing and all that which seems to pop up every election that got squashed. The market just spiked. And you know, every time the market spikes, it's the businesses that have, that are geared for capacity, that have actually done the work, done the legwork, are talking to prospective vendors where no one else is. They're the ones that win, and that's kind of the point. We know that people are spending less energy talking to prospective vendors. And, to your point, we don't know if the market's going to spike after the election in four weeks, but we do know that, if it does spike, the people that are speaking to the prospective vendors, the people that are keeping them updated, are talking about the facts talking about the facts, talking about the data, they're the ones getting the phone calls when the confidence comes in.
Tom Panos:Yeah well, it sounds like, and you know Tim well enough. Now, if you're a seller, by the sounds of it, you're probably going to be better off coming on in May, even June, than in September, October, isn't it?
Tim Snell :Well, look, we were at Macquarie Bank yesterday and we got to hear a lot of their forecasts as well, which is always interesting. But most economists are saying the same thing. Most economists are suggesting that no one was surprised with today's result. Most economists are pricing into the marketplace probably two more rate drops this year I would love to say three, but it's pretty low that three. But every economist agrees that 2026 is going to be pretty positive for pricing, you know, barring some kind of global uncertainty. But you know, all things stay in the way they are. Interest rates drop a few more times over the course of this year. 2026 is geared to be good for pricing in New South Wales, according to more projections. That being said, when was the last time a projection was correct? I don't know. But that all being the case, you're 100% right. Once confidence comes into the marketplace, sellers come in quickly. So you know you're better off to get involved before they flood for certain.
Tom Panos:All right. Thank you, Tim, Peter and Shiv. Congratulations, Welcome to Ray White United Group. Peter, congratulations on your sixth venture. Shiv, congratulations on marrying a fantastic business partner, because that's what it is. It's there. An absolute pleasure to see you all, and thank you to all our listeners coming in. You've heard it. I've got to tell you make hay while the sun's there. Right now. There is deals being done. Maximise it. We know that April we've got Anzac Day, Easter, school holidays, election campaigns. Anyway, Tim, thank you so much. Thank you to all.
Tom Panos:Thank you, thank you, thank you.