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Real Estate Market Wrap: Why agents have a bad name

• Tom Panos - Real Estate Coach & Trainer

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00:00 – The dumbest things I’ve seen agents do today
01:45 – There was no brochure at the auction!
04:12 – Easter, ANZAC Day & Elections

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Speaker 1:

Officially, I can tell you one of the dumbest things I've seen a real estate agent do happened today and the reason I know it happened is because the buyer told me. Here is the context Buyer goes to an auction is the underbidder misses out. About an hour later gets a phone call from the real estate agent who says listen, I'm giving you a call to let you know that we've got an offer of X dollars and our owner is going to sell it. We're just letting you know, right, and they've accepted the figure. The buyer turns around and says well, I'm not prepared to go to that price so they can have it. Sell it to them. Call finishes five minutes later. The agent rings back and actually says to them the vendor really liked you as people and I've painted a nice picture of who you are. He really would like to sell it to you. Can you tell us what is the maximum price you're going to pay? How dumb is that? Like seriously. Do you honestly think you're going to ring up a buyer let them know we've got this offer, oh, don't worry, we'll sell it to you for less because the vendor likes you. Will you pay something? Get real, get real. Absolutely dumb stuff and that's why real estate agents have a bad name.

Speaker 1:

I want to let you know also today, when I asked for a brochure from one of the real estate agents because, if you notice, I like to hold the brochure in my hand. It reminds me, during the auction, to make reference to the key points of the home and the key features and benefits of it. And it's just a habitual thing, and I actually don't use a hammer. I use a brochure as my hammer. And what happens is there's no brochure on the property, and the reason why is the vendor actually did not invest in any marketing. They wanted to do a zero marketing campaign. And I've got to say to you listen, if you're going to cut anything, try and cut a little bit of the fee, but don't cut the marketing. Ladies and gentlemen, real estate is about getting bums on seats. Real estate is a numbers games. It's arithmetic More buyers equals more competition, competition wins the grand final and competition optimizes the price of a house.

Speaker 1:

And I've got to say to you that there are no excuses in 2025 to not do the best possible marketing campaign. There is because there are companies, and the one that I prefer, the one I've been involved in as an ambassador, is called Campaign Agent. Even if you've got no money, they let you pay for the marketing way after the sale is done and you've received your settlement right. So, even if you're cash poor at the moment, even if you don't have the money to advertise, just go to Campaign Agent. Look, it'll probably cost you about 5% more right in your marketing campaign. But what's that? On a five grand marketing campaign, around 300 bucks, whoopie doo. But at least that way you're going to go and attract the local buyer, the out of area buyer, a passive buyer, an active buyer You're going to get and you're going to have a campaign that is both offline and online. Because I've got to tell you, in marketing, you want to have a marketing campaign that is both traditional media and also digital media and they work in combination, not in isolation.

Speaker 1:

Ladies and gentlemen, I've got to say to you do never, ever, scrimp on a marketing campaign, because if marketing didn't work, maccas and Coca-Cola wouldn't be marketing, would they? I'm talking to a lot of real estate agents right around the country and I've got to tell you, even the booming markets of Perth, where I spent the whole weekend, is starting to slow up. Of course we've got Easter and Anzac Day that week. Easter one weekend, anzac Day the other weekend. Don't expect many people to be auctioning around Easter Day. People do take long weekends off. Anzac Day is on a Friday. They probably will be auctioning Election. Well, I've got a full card. I've got a full card. I think I've got 13 auctions because people have worked out. Why would you cancel an auction on election day? It takes five minutes to vote. End of story.

Speaker 1:

Whilst we're talking about the election, I've got to tell you every morning I wake up, I look at sport odds and I've got to tell you, for the last month it was all Liberal. Now, in the last week, labour has hit the lead and this morning the odds were about $1.30 Labor, $3.80 the Coalition. That's just the odds, and I know that over the next few weeks, as the media starts covering front page stories and putting their influence, we may see things change. But I've got to tell you Albo right now has hit the lead, and he's hit the lead by a pretty wide gap, and I can't understand why, because the majority of people are worse off than they were three, four years ago. However, I think what's happening is people have seen the turbulence that's happened with a new government in the USA. You've seen the stock markets go up and down. You're seeing the people react and I think what's happening is Australia is thinking maybe it's safer just to stick with what we've got Now.

Speaker 1:

I haven't even decided who I'll be voting for on this occasion. I'll wait till closer and I'll read all the policies. Anyway, what's the point? The point is I'm not trying to influence anyone, in case anyone wants to jump on and say, oh, tommy's pushing Labour Liberal, not into that sort of stuff. Anyway, ladies and gentlemen, enough said, but I've got to say to you today, 11 out of 13,. I am working tomorrow. I've got four options scheduled tomorrow. There is stock out there, but apart from that, guys and girls signing off.