The property market is shifting, and here’s what’s making waves:
đź“Š Auction results are mixed as interest rate tweaks keep buyers on their toes.
🏠Political campaigns are zeroing in on housing affordability—big changes could be ahead!
đź’° Interest rate cuts might still happen, despite official statements saying otherwise.
🤖 AI is transforming real estate—agents who adapt will thrive!
đź“Ť Zoning law changes matter more than ever for accurate property valuations.
My Clearance Rate: 8/11 SOLD
What was it like in your market?
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
Yes, michelle Bollock did say that rates might not be
coming down again because we'vegot inflation.
But hey, I'm going to saysomething to you Don't listen to
what they say, look at whatthey do.
Hey, to everyone that's comingon.
So today there was 11 auctionsand 8 sold out of the 11.
Last week there was 10 auctionsand 10 sold out of 10.
(00:24):
Last week.
And obviously, like I said, Imean don't think that one rate
cut of 0.25% changes the market.
And I did have a buyer todaysay to me oh, I don't think
there's going to be any morerate cuts.
I don't agree with that.
I think there will be more ratecuts because rate cuts are not
one-offs.
They they're done as a tool,they're used as a mechanism to
(00:46):
actually influence behaviour.
And he said to me oh yeah, butI can play you this video that
the Reserve Bank Governor,michelle Bollock, has turned
around and said that don't thinkthat there's going to be more
rate cuts this year.
There could be a rate cut nextyear.
Thank you, jared.
So the bottom line is yes,michelle Bollock did say that
(01:06):
rates might not be coming downagain because we've got
inflation.
But hey, I'm going to saysomething to you, don't listen
to what they say, look at whatthey do.
You see, it would be stupid ofMichelle Bollock to say, yes,
we're going to start havingrates dropping on a consistent
basis.
(01:26):
And I'll tell you why it'sgoing to be stupid.
Because if she did, peoplewould go off and spend money and
then that would defeat thepurpose.
So they're conditioning us as asociety Same way that Dr Lowe,
who was the previous boss of theRBA, would say oh, rates are
(01:48):
not going up.
Rates are not going up.
Borrow money, buy.
He was scared during COVID thatthe whole place was going to
collapse.
So he wanted people to throwmoney right, like they were
throwing money with their job,keep job, whatever.
But what did they do?
Rates went up 13 times, eventhough he said they're not going
(02:09):
to go up.
And she's saying, oh, they'renot going to go down, but they
will, right, they've started theprocess and there's a lot of
pain out there.
So 8 out of 11 um.
And I've got to say I do thinkrates are going to continue to
go down.
I think now it's any day, anymoment.
Now we are going to have an godown.
I think now it's any day, anymoment.
Now we are going to have anelection announced.
I can already see the socialmedia ads on all the platforms
(02:33):
from the two political parties,the Liberal and Labor.
They have started to flow overthe last 48 hours.
And, what's interesting, if youlisten to what Dutton and Albo
are saying, everything thatthey're talking about about
swinging the election to them isnow moved to property.
Albo was talking about interestrates and what he's done with
(02:56):
them that they're dropping.
Dutton is talking about housingunaffordability and the fact
that the average house is now amillion dollars and it's dearer
to buy a property here than itis in pretty much every country
in the world.
So I've got to tell you thatelection expected any moment,
(03:16):
any moment.
So Malcolm Quinn is saying,barring a gaffe, the coalition
is poised to win the electionwith its 50,000 superannuation
policy.
So let's talk about that for amoment.
So so if Liberal gets in,dutton has said you will be able
to get $50,000 out of yoursuperannuation to use as a
(03:40):
deposit if you're a first homebuyer.
And I've got to tell youthere's a lot of people that
post a federal election ifLiberal wins are going to have
$80,000 in their bank accountand they're automatically a
buyer for good real estate right30 grand that they might have
in the bank account already, andanother 50, gives it 80 grand
(04:01):
right.
So obviously real estate is ademand and supply game.
If you're going to supply aheap more buyers into the
marketplace that are demanding,property prices are going to go
up.
So it's got to the stage whereI rang up my daughter this
morning after I auctioned aproperty in Erskineville that
went for around $850,000.
(04:22):
And I thought to myself sheshould be buying now.
She's 21.
She should be buying realestate now because I can tell
that we're entering that cycleover the next one to two years.
Migration is still happening,you know and yes, we've got the
New South Wales government.
Mins has gone off, as you know.
(04:44):
I reported it yesterday onInstagram that zoning changes
are being changed with a newpolicy and that was gazetted and
it basically means that ifyou're 800 meters from a hub be
it trains, transport hubs 171suburbs have had a change in the
(05:06):
policy and that means if you'rea real estate agent, you better
get smart about it.
If I was an agent selling realestate in an area, first thing
I'd be doing on Monday morningis rocking up to the local
council and just graspingeverything I can about these new
planning changes.
Because when you're going outto a listing presentation, you
have an obligation to haveproduct knowledge.
(05:27):
Product knowledge is going togive you confidence and
confidence is going to give youinfluence and I've got to let
you know.
You have an obligation to thecommunity to go out there.
It's not an Uber driver that'sgoing to advise your vendors on
highest and best use.
It is a real estate agent.
So make sure, make sure thatyou go off and you are fully
(05:47):
aware A to Z on what you can andcan't do with these new zoning
changes in Sydney.
So, getting back to what I wassaying is all the policies that
the governments are talkingabout are to do with housing.
Housing is now the thing.
It doesn't appear to be anelection that's going to be won
on environmental factors.
It appears to be an electionthat's going to be won on cost
(06:09):
of living factors and, inparticular, in the cost of
living factors, what it costsfor a tenant or a buyer to own a
home or a unit in this country.
That is where the election isgoing to win.
I've got to share a story withyou.
I've been told that I'm goingto get reported to the Office of
Fair Trading by a buyer becausehe turned around.
(06:31):
Actually, no, he didn't say hegoes.
Oh, I can't report you to thegovernment because you haven't
done anything wrong.
But I'm going to give you azero star review.
This is a buyer that made a bidon a property that's worth
probably around $900,000 or$850,000 thereabouts, made a bid
at $600,000, then was onlybidding in $1,000 bids.
(06:57):
So I just thought to myselfwe're not getting anywhere here.
Our instructors from our vendorwere put in a vendor bid.
I put in a vendor bid of$850,000.
We passed it in and we're goingto go sell it as a for sale on
Monday.
As the buyer's walking out, hesays I'm, I'm the highest bidder
(07:18):
.
I'd like to speak to the ownerdirect.
I said you're not the highestbidder, sir, I hope he's
watching this.
I said you're not the highestbidder.
I said the Vendor bid is thehighest bid.
I said you weren't the highestbidder.
It's been passed in at 8.50.
Anyway, he goes.
I'd like to speak to the ownerdirect.
(07:42):
I went over and spoke to theowner.
I said look, this buyer wantsto speak to you, so she goes.
Okay, we all go into thekitchen.
I wasn't going to leave thelady there.
She was on her own right.
I wasn't going to leave her onher own, direct face to face
with this buyer, you know look,he was a nice enough guy.
Egyptian heritage, goodnegotiators, egyptian heritage
buyers.
Anyway, cut a long story short.
He starts and listen to what hesays.
(08:02):
Oh, we're a good family, blah,blah, blah, blah, blah, blah,
you know.
And essentially trying to buythe property at a significantly
discounted price.
And she said I'm not preparedto sell under $850,000.
(08:25):
And I said I wouldn't let hersell under $850,000.
I mean, it's worth it.
Where can you buy a house for$850,000 in Sydney?
Now, right, and he flips, heflips, he goes.
You shouldn't be involved inthis.
It's her house.
You shouldn't say that sheshouldn't sell it at this price.
I'm very upset.
(08:46):
I'm going to give you a badreview, right, mate?
Seriously, seriously, seriously.
Listen, I'm going to let youknow if you're a buyer that's
watching this.
The number one way to not get anoffer accepted from a vendor is
to get the vendor to dislikeyou, right, and you know what
(09:09):
that means.
Don't be stupid with the wayyou go about making an offer
right.
So at the end of the day, Isaid to well, you go off and put
a bad Google review on mebecause I told my owner don't
sell at that price, which shewasn't going to sell at anyway.
(09:31):
Right, she actually is the onethat turned around and said no
way.
But why am I sharing this storywith you?
Because sometimes I actuallyfind that when you do connect
the buyer and the seller, it canhelp, because if they're nice
people and they're compassionateand they get a bit of an
understanding, the vendor mightsee them in different context.
(09:55):
But to actually go direct tothe owner, thinking to yourself,
I'm going to be able to try andmanipulate them to sell their
property for 200 grand less,doesn't stand with me, man.
Anyway, gang, the final thing Iwant to let you know is you know
(10:15):
what someone asked me today?
He said to me what percentageof real estate agents, if they
had to do a lie detector testwhat do they call it, a
polygraph test or a drug testwould pass the test.
I don't know the answer to that.
I really don't know.
I'd love to get your views.
(10:36):
What percentage of agents wouldpass a polygraph and drug test
at a listing presentation?
I'd like to know your answersbelow.
But apart from that, ladies andgentlemen, all I can tell you is
the good real estate agentsthat have adopted AI and a lot
of my real estate gym membersnow are using AI for vendor
(10:57):
reports.
They get their agent box andrealestatecom report, put it in
through AI, get an executivesummary, and I've got to tell
you there are real estate agentswho are putting vendors' social
media accounts throughpsychometric testing on AI
before they do a listingpresentation and they've been
told this is the best way toactually present to these
(11:18):
vendors.
I think there have been threemajor revolutions in real estate
.
The first one, ladies andgentlemen, was franchises in the
80s.
The second one wasrealestatecom, changing the
industry.
And the third one, I believe,is AI.
And if you don't like change,you're going to hate extinction.
Yes, michelle Bollock did say that rates might not be
coming down again because we'vegot inflation.
But hey, I'm going to saysomething to you Don't listen to
what they say, look at whatthey do.
Hey, to everyone that's comingon.
So today there was 11 auctionsand 8 sold out of the 11.
Last week there was 10 auctionsand 10 sold out of 10.
(00:24):
Last week.
And obviously, like I said, Imean don't think that one rate
cut of 0.25% changes the market.
And I did have a buyer todaysay to me oh, I don't think
there's going to be any morerate cuts.
I don't agree with that.
I think there will be more ratecuts because rate cuts are not
one-offs.
They they're done as a tool,they're used as a mechanism to
(00:46):
actually influence behaviour.
And he said to me oh yeah, butI can play you this video that
the Reserve Bank Governor,michelle Bollock, has turned
around and said that don't thinkthat there's going to be more
rate cuts this year.
There could be a rate cut nextyear.
Thank you, jared.
So the bottom line is yes,michelle Bollock did say that
(01:06):
rates might not be coming downagain because we've got
inflation.
But hey, I'm going to saysomething to you, don't listen
to what they say, look at whatthey do.
You see, it would be stupid ofMichelle Bollock to say, yes,
we're going to start havingrates dropping on a consistent
basis.
(01:26):
And I'll tell you why it'sgoing to be stupid.
Because if she did, peoplewould go off and spend money and
then that would defeat thepurpose.
So they're conditioning us as asociety Same way that Dr Lowe,
who was the previous boss of theRBA, would say oh, rates are
(01:48):
not going up.
Rates are not going up.
Borrow money, buy.
He was scared during COVID thatthe whole place was going to
collapse.
So he wanted people to throwmoney right, like they were
throwing money with their job,keep job, whatever.
But what did they do?
Rates went up 13 times, eventhough he said they're not going
(02:09):
to go up.
And she's saying, oh, they'renot going to go down, but they
will, right, they've started theprocess and there's a lot of
pain out there.
So 8 out of 11 um.
And I've got to say I do thinkrates are going to continue to
go down.
I think now it's any day, anymoment.
Now we are going to have an godown.
I think now it's any day, anymoment.
Now we are going to have anelection announced.
I can already see the socialmedia ads on all the platforms
(02:33):
from the two political parties,the Liberal and Labor.
They have started to flow overthe last 48 hours.
And, what's interesting, if youlisten to what Dutton and Albo
are saying, everything thatthey're talking about about
swinging the election to them isnow moved to property.
Albo was talking about interestrates and what he's done with
(02:56):
them that they're dropping.
Dutton is talking about housingunaffordability and the fact
that the average house is now amillion dollars and it's dearer
to buy a property here than itis in pretty much every country
in the world.
So I've got to tell you thatelection expected any moment,
(03:16):
any moment.
So Malcolm Quinn is saying,barring a gaffe, the coalition
is poised to win the electionwith its 50,000 superannuation
policy.
So let's talk about that for amoment.
So so if Liberal gets in,dutton has said you will be able
to get $50,000 out of yoursuperannuation to use as a
(03:40):
deposit if you're a first homebuyer.
And I've got to tell youthere's a lot of people that
post a federal election ifLiberal wins are going to have
$80,000 in their bank accountand they're automatically a
buyer for good real estate right30 grand that they might have
in the bank account already, andanother 50, gives it 80 grand
(04:01):
right.
So obviously real estate is ademand and supply game.
If you're going to supply aheap more buyers into the
marketplace that are demanding,property prices are going to go
up.
So it's got to the stage whereI rang up my daughter this
morning after I auctioned aproperty in Erskineville that
went for around $850,000.
(04:22):
And I thought to myself sheshould be buying now.
She's 21.
She should be buying realestate now because I can tell
that we're entering that cycleover the next one to two years.
Migration is still happening,you know and yes, we've got the
New South Wales government.
Mins has gone off, as you know.
(04:44):
I reported it yesterday onInstagram that zoning changes
are being changed with a newpolicy and that was gazetted and
it basically means that ifyou're 800 meters from a hub be
it trains, transport hubs 171suburbs have had a change in the
(05:06):
policy and that means if you'rea real estate agent, you better
get smart about it.
If I was an agent selling realestate in an area, first thing
I'd be doing on Monday morningis rocking up to the local
council and just graspingeverything I can about these new
planning changes.
Because when you're going outto a listing presentation, you
have an obligation to haveproduct knowledge.
(05:27):
Product knowledge is going togive you confidence and
confidence is going to give youinfluence and I've got to let
you know.
You have an obligation to thecommunity to go out there.
It's not an Uber driver that'sgoing to advise your vendors on
highest and best use.
It is a real estate agent.
So make sure, make sure thatyou go off and you are fully
(05:47):
aware A to Z on what you can andcan't do with these new zoning
changes in Sydney.
So, getting back to what I wassaying is all the policies that
the governments are talkingabout are to do with housing.
Housing is now the thing.
It doesn't appear to be anelection that's going to be won
on environmental factors.
It appears to be an electionthat's going to be won on cost
(06:09):
of living factors and, inparticular, in the cost of
living factors, what it costsfor a tenant or a buyer to own a
home or a unit in this country.
That is where the election isgoing to win.
I've got to share a story withyou.
I've been told that I'm goingto get reported to the Office of
Fair Trading by a buyer becausehe turned around.
(06:31):
Actually, no, he didn't say hegoes.
Oh, I can't report you to thegovernment because you haven't
done anything wrong.
But I'm going to give you azero star review.
This is a buyer that made a bidon a property that's worth
probably around $900,000 or$850,000 thereabouts, made a bid
at $600,000, then was onlybidding in $1,000 bids.
(06:57):
So I just thought to myselfwe're not getting anywhere here.
Our instructors from our vendorwere put in a vendor bid.
I put in a vendor bid of$850,000.
We passed it in and we're goingto go sell it as a for sale on
Monday.
As the buyer's walking out, hesays I'm, I'm the highest bidder
(07:18):
.
I'd like to speak to the ownerdirect.
I said you're not the highestbidder, sir, I hope he's
watching this.
I said you're not the highestbidder.
I said the Vendor bid is thehighest bid.
I said you weren't the highestbidder.
It's been passed in at 8.50.
Anyway, he goes.
I'd like to speak to the ownerdirect.
(07:42):
I went over and spoke to theowner.
I said look, this buyer wantsto speak to you, so she goes.
Okay, we all go into thekitchen.
I wasn't going to leave thelady there.
She was on her own right.
I wasn't going to leave her onher own, direct face to face
with this buyer, you know look,he was a nice enough guy.
Egyptian heritage, goodnegotiators, egyptian heritage
buyers.
Anyway, cut a long story short.
He starts and listen to what hesays.
(08:02):
Oh, we're a good family, blah,blah, blah, blah, blah, blah,
you know.
And essentially trying to buythe property at a significantly
discounted price.
And she said I'm not preparedto sell under $850,000.
(08:25):
And I said I wouldn't let hersell under $850,000.
I mean, it's worth it.
Where can you buy a house for$850,000 in Sydney?
Now, right, and he flips, heflips, he goes.
You shouldn't be involved inthis.
It's her house.
You shouldn't say that sheshouldn't sell it at this price.
I'm very upset.
(08:46):
I'm going to give you a badreview, right, mate?
Seriously, seriously, seriously.
Listen, I'm going to let youknow if you're a buyer that's
watching this.
The number one way to not get anoffer accepted from a vendor is
to get the vendor to dislikeyou, right, and you know what
(09:09):
that means.
Don't be stupid with the wayyou go about making an offer
right.
So at the end of the day, Isaid to well, you go off and put
a bad Google review on mebecause I told my owner don't
sell at that price, which shewasn't going to sell at anyway.
(09:31):
Right, she actually is the onethat turned around and said no
way.
But why am I sharing this storywith you?
Because sometimes I actuallyfind that when you do connect
the buyer and the seller, it canhelp, because if they're nice
people and they're compassionateand they get a bit of an
understanding, the vendor mightsee them in different context.
(09:55):
But to actually go direct tothe owner, thinking to yourself,
I'm going to be able to try andmanipulate them to sell their
property for 200 grand less,doesn't stand with me, man.
Anyway, gang, the final thing Iwant to let you know is you know
(10:15):
what someone asked me today?
He said to me what percentageof real estate agents, if they
had to do a lie detector testwhat do they call it, a
polygraph test or a drug testwould pass the test.
I don't know the answer to that.
I really don't know.
I'd love to get your views.
(10:36):
What percentage of agents wouldpass a polygraph and drug test
at a listing presentation?
I'd like to know your answersbelow.
But apart from that, ladies andgentlemen, all I can tell you is
the good real estate agentsthat have adopted AI and a lot
of my real estate gym membersnow are using AI for vendor
(10:57):
reports.
They get their agent box andrealestatecom report, put it in
through AI, get an executivesummary, and I've got to tell
you there are real estate agentswho are putting vendors' social
media accounts throughpsychometric testing on AI
before they do a listingpresentation and they've been
told this is the best way toactually present to these
(11:18):
vendors.
I think there have been threemajor revolutions in real estate
.
The first one, ladies andgentlemen, was franchises in the
80s.
The second one wasrealestatecom, changing the
industry.
And the third one, I believe,is AI.
And if you don't like change,you're going to hate extinction.
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