Real Estate Market Wrap 🗞️ Agents keep forgetting this simple thing...

• 00:29 - Surprisingly, the market has become stronger since rates have gone down
• 01:34 – Real estate agents keep forgetting this simple thing
  
  My Clearance Rate: 6/11 SOLD

Chapters

• 0:00 Today's Auction Results Analysis
• 0:37 Market Conditions Post-Rate Cuts
• 0:58 Supply vs Interest Rate Algorithm
• 1:45 Real Estate's Role in Politics
• 3:14 Criticism of Agent Self-Promotion

Transcript

Speaker 1: 0:00

Today I had 11 auctions and out of the 11 auctions, six have sold. I've got to tell you, it's patchy, it's fascinating, it's really interesting. I've got to say to you that for me, even though we've had rates that have come down and historically, rates going down means that buyers should be feeling more bullish However, when I speak to the real estate agents across the various markets, generally speaking, they're telling me this marketplace is not any stronger since rates have gone up. They're saying to me that, hey, listen, some of the prices that we were getting three core months ago, look, were probably a touch better. But I'm generalizing here. Hey, michael, and Michael has a photo one of the great real estate agents in Brisbane, so proud of what that guy's done from place. I have to say to you, the algorithm in real estate is normally rates go down, prices go up. However, I believe that there's even a more accurate algorithm in real estate, and that is when there's a lot of stock on the market, prices don't go up. When there's no stock on the market, prices go up. It's a demand and supply algorithm versus an interest rate algorithm. Good to see you as well, tass.

Speaker 1: 1:28

However, the one thing I want to speak about right now is to real estate agents who continue to forget that the last election was won and was campaigned on purely real estate. And I'll tell you why. Because if you're a tenant, real estate matters. If you're looking to buy real estate matters. If you're a vendor, you've been paying off a mortgage. Real estate matters. Cost of living is what the big election decider was based on, yet our real estate industry continue to just throw it in people's faces. The biggest issue that we have in our industry is cost of living. That is what people care about in Australia. Yet I've got to tell you, these low IQ estate agents continue to decide to tell people how well they're personally going in a country that is in pain and suffering generally because of prices and the cost of ownership and also renting. So the golden opportunity is there for the real estate agent who decides that I'm not going to start participating in that stupid game.

Speaker 1: 3:10

And let's be honest, real estate social media has become an ecosystem where real estate agents communicate to each other. I mean, like I have to say to you go look at the followers of the real estate agents on social media. You'll notice their other real estate agents are their followers. Team, grow up, wake up and you know what. Posting off. You know my GCI right this that this Mate listen, if you're so cool, why don't you post your P&L, mr Smarty Pants or Mrs Smarty Pants? Anyway, what's the point? Just show some damn empathy in an economy where people are hurting due to real estate. Yet we have the same people who are supposed to be the ambassadors of the marketplace just laughing at the punters.