April 1, 2025 • 35 mins
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!🔝
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
Peter, I've got to say how long have I actually
known you, pete?
Peter Diamantidis (00:09):
We did our first interview in 13 and I met
you in, I think, 2009 or 10.
Tom Panos (00:15):
Okay, and I remember you coming to News Corp at
Alexandria and we were sittingin there.
In fact, I was just having alook.
For those of you that want totake this further today, I'm
letting you know that if youcome into the real estate gym
and I'm going to just bring itup here under presenters I'll
(00:43):
bring it up here.
Come into Zoom.
I'd love you all to scroll downafter today, because we've only
got half an hour today, butwhat you need to do is to sit
down.
Scroll down to P PeterDiamantidis, and what I'd love
(01:04):
you to do is have a look at thecontent that we've had for Peter
.
This was this year, making 250deals a year.
This was his ARIC presentation,which he blew off the park.
This is when Susan was involvedin an interview.
This is when you came to myhome and then we went and had
(01:24):
Japanese I don't know if youremember that day Yep, yep.
And this is when you were alittle pup.
Yep, there, right, how manyyears in real estate, peter.
Peter Diamantidis (01:35):
This will be end of the year will be 23 years
.
Tom Panos (01:38):
End of the year will be 23 years.
Okay, years.
Okay, now, peter, tell peoplewho are watching this a little
bit about your background inreal estate.
You in fact worked for one realestate office for a couple of
decades before you actually wentout on your own.
Peter Diamantidis (01:59):
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 thereat that one place for 18 years,
okay.
You know how many offices now.
Tom Panos (02:20):
Yesterday five and today there's another one, which
we're not going to tell peopleat the moment, but yesterday it
was five, Correct, but todayit'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 howmany sales, did you do, pete?
Peter Diamantidis (02:35):
So this been the year I should crack, settled
between 330 to 350.
Tom Panos (02:41):
Okay, so how many staff in total have you got
across your companies?
Peter Diamantidis (02:49):
All companies now onshore just over 100, and
offshore 25.
Tom Panos (02:55):
Okay, so you're known as being the million-dollar
agent factory because you've gota process and your process is
very simple and I've seen thatwith my own eyes.
Ellie is an example.
Comes in what was he before?
He was a hairdresser working asa hairdresser, cutting people's
hair, comes into real estate.
(03:17):
They start off as junior agentstrying to master two real
skills working buyers andprospecting correct, correct.
And then what you do is youmove them up and they're in an
EBU and during the EBU periodthey're fine tuning
qualification with buyers,following up buyers, showing
(03:42):
property, committing buyers togive an offer.
They're not actually puttingthe offer to the vendor
themselves, they're not puttingthe deal together, they're
actually essentially justlearning great buyer work and at
the same time they're learningprospecting, and that's door
knocking on the phones.
Peter, you showed me the stats.
(04:03):
I saw them with my own eyes.
That last month, where youshowed me the Nurture Cloud
calls, your company's got numberone in the Ray White group in
New South Wales or Australia.
Peter Diamantidis (04:16):
Australia White.
Tom Panos (04:18):
How many calls was it ?
Peter Diamantidis (04:19):
Just under 24,000.
Tom Panos (04:22):
24,000 calls.
So these people, they're onthere doing calls.
You also have people offshoredoing calls for you, correct,
and then you move.
And then the next step is what?
They become a standalone agent.
Peter Diamantidis (04:35):
Yeah, they become a standalone.
So a bit of the process.
If we rewind it back.
Ellie's a good example came onas an associate, of course,
stuck with me like glue prettymuch.
So what I've always found isthat you want them to basically
leverage off your results,leverage off your name.
You know, when somebody startsnew in an area, you always get
(04:58):
this brochure in the letterboxthat says me, I'm new to the
area.
You know what I mean.
We didn't want that.
We wanted it to basically meanPeter's with Ellie, for example,
which means that we're together.
We would go to appraisalstogether, we would show buyers
together, and that started tothen rub off.
Next step to that is even beingan associate.
(05:18):
We wanted to make sure thattheir face was in the community.
They're on signboards, they'reon DL drops with me, everything
like that.
So it started to become atrusted name in the area.
So everyone knew Peter, but nowthey know Ellie.
And then now from Ellie youknow, if we fast forward many
years, he's running technicallyhis EBU and it's the same thing.
(05:38):
His associates are running offhis name.
So it's like a legacy, if youknow what.
Tom Panos (05:45):
I mean.
So who's the main agent, Peter,and how does it work?
The main and the secondaryagent?
Peter Diamantidis (05:55):
So what we normally do is let's say for me
it's a little bit different.
So let's say in the audience ifyou've got a selling principle,
number one rule I've alwaysdone is you need to put your
associate first and you need togo second.
Now sometimes you might feeluncomfortable with that because
they may not know the ropes, butyou're following that, that
campaign right through.
So for me, for my associates,why we don't get too many
associates that will end noassociates that will ever leave
our business, is we make surethat if you're a standalone, if
(06:19):
you're working underneath meunder we call it Pete's Academy
we want to make sure that youknow you, you get a lead in.
If it's an appraisal, weconvert it together.
You go to main agent, I gosecond agent.
So if you go into realestatecomnow, you might say, oh well,
peter's only sold 260 or 270properties in 12 months, but
(06:39):
it's because the the main, themain goal for me is to grow
these agents faster.
And how can you grow agentsfaster if you don't put their
names on anything?
How many times have you seenassociates where they've been an
associate for two years and yougo who's this person?
You're not even an assault sign.
You're not even as an agent, soyou manage the whole process.
You look at the vendor reports,you have the meetings together,
(07:02):
they're answering the calls, soyou're pretty much chucking
them in the deep end faster, butyou're guiding them through the
process.
Tom Panos (07:10):
Okay, pete, have you got any feedback you can give us
on the timing it takes to getsomeone who's a hairdresser or
no experience in real estate,comes through Pete's Academy and
then comes through the funneland becomes a standalone agent?
(07:31):
How long can they do thatprocess in?
Peter Diamantidis (07:34):
The quickest I've had is eight months, and
probably between eight to 15months.
If you said an average thatI've had go through for our
business eight to 15 months.
Tom Panos (07:45):
Okay, so we clearly know that the prospecting side
of your business is them doingcalls and door knocks.
Peter Diamantidis (07:54):
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 thatit's coming onto the market
without commission breath.
So you want to be more of anadvisor advising people when a
property sells, when a propertyis listed, uh, your database,
(08:15):
the good benefit we have is andI don't know if you've got many
um, you know um gym members,anyone watching that's with rain
, white, but our nurture clouduh 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 (08:31):
But apart from the outbound phone calls and
prospecting and the NurtureCloud, your business is really
heavy-duty on marketing, reallyheavy-duty on content, going out
, giving awareness of theDiamond TDs Ray White group, and
that includes digital, I meanobviously social.
(08:54):
And just tell me what is themarketing, what does it look
like and what's the frequencyand the consistency of it.
Peter Diamantidis (09:02):
So it's like a blueprint.
I always believe, you know, instarting this journey, when I
opened the first office in 21,.
You need brand awareness.
Now brand awareness is itdoesn't give you automatic
success.
You're not going to get peopleringing you off a DL drop or
I've seen a signboard, but Iwanted to make sure that it was
consistent.
So from the first moment whenwe started doing, say, 5,000
(09:25):
letterbox drops to now thatwe'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 wesold.
This is what we sold.
So it was basically every monthin your letterbox, in your
emails, via text message,everywhere that you could look,
we would be on the shopping list.
(09:46):
So that was the number one ruleI've always believed in.
I know with some agents, youknow they may think that doing a
DL drop today, you're going toget a phone call today, but it's
playing the long game.
I've always played the longgame and you know that, tom,
I've never been this one.
That's, you know, looking to.
(10:07):
You know, get somebody rightnow and sell, I'd love that.
But you've got to nurture itand the first thing is your
letterbox drops, uh, your yourdl's, uh, it could be social
media posts.
Now, in social media, you knowI'm not going to get 4 000
people, you know, sending memessages to say to sell your
home, but guess what, when thetime comes?
And they, peter, I've beenfollowing you for three years,
(10:27):
you're doing well.
Now you know, I want you outthere to give me an appraisal.
At least I'm one out of threeagents.
I never had that otheropportunity.
So the key word and everyonetalks about it it is consistent.
Consistent marketing locally.
Consistent marketing digitally.
If it's just your sub-statisticdrops, whatever they are, it
needs to be consistent.
Tom Panos (10:48):
Okay, I want to ask your time.
I think it's a real skill torun a business and to run an EBU
and I think if you've got theability to do it right to run a
business and run an EBU you tickboth boxes, because you can
(11:09):
make a hell of a lot of moneyand show leadership by leading
by example if you run your ownEBU, because when you don't do
that, you're like the dictatordo that, do that, do that.
When you're doing it, you'releading by example.
But, on the same token, mantime and trying to do your EBU
(11:29):
as well as all these otherbodies hey, pete, have you got a
moment?
Hey, pete, have you got amoment?
Hey, pete, have you got amoment?
Pete, have you got a momentright?
Any ideas that you can sharewith people that are principals,
that are also running ourdirectors EBU on managing that?
Peter Diamantidis (11:46):
definitely so .
The first thing they'll bebasically doing is sitting down
like, let's say, tonight, sitdown at seven o'clock.
Make a list of things that youcan delegate, you know?
Does that mean?
You know?
You know the staff are callingyou because they're sick?
That day needs to be delegated.
Are you paying?
you know the payroll yourselfdelegate it um, you need to
(12:06):
delegate anything that uh is nonyou know dollar productive.
Now some people might say we'rerunning a small business, we
can't afford it.
Get a va spend 15,000 10,000 ayear.
Let Let them do the payroll.
I started to eliminate a lot ofthings out of my life, so you
know a lot of my personal stuff.
Where I was doing, you knowproperty development and things
(12:26):
like that I've made sure thatthat's after 6 pm.
Now you know what I mean.
It's not happening at 10o'clock, and then I'm coming for
open houses and things likethat.
So I've structured myself.
Every Sunday I sit down, I lookat my week.
I have one day off, what I callone day off, meaning I'm not
going to be in the office.
This week will be Thursday.
So then I work around that Withmy vendors.
(12:49):
Everyone's on WhatsApp, so itcould be voice recording calls,
messages.
They're getting updated.
My EBU are sending the vendorreports, uh, the ebus that you
know are doing.
You know my associates aredoing.
You know your copyrights, yourvendor marking, whatever it is.
I'm basically listing, selling,negotiating.
(13:09):
That's pretty much it.
That's all I'm doing.
But it just comes down tostructuring your day.
Tom Panos (13:15):
Beautiful.
Now what I'd love to do isbring Tim Snell on and Shiv Nair
on.
Okay, so Susan in thebackground.
I haven't seen Tim in ages.
How are?
Peter Diamantidis (13:30):
you Good to see you.
Tom Panos (13:31):
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, andthere'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 benchpress.
I was looking at you the otherday doing his bench press,
(13:51):
staying fit.
Shiv Nair (13:52):
Just being inspired.
By you, mate.
Tom Panos (13:55):
Yeah, 100%.
Now listen, I'm just gettingnervous here.
I've just seen my computer goto low battery.
I'm stressing yes, it's turnedback on, beautiful, turned back
on there.
Let's bring that back there.
Tim, you've got to be terriblyproud as the Chief Executive
(14:15):
Officer of the Ray White Group.
You've got to be terribly proudwhen you see, well, both are
young men.
You know you've had a number ofyoung men join the group New
Business Energy.
Shiv joined.
How long after?
Who joined first, shiv?
Tim Snell (14:35):
or Pete.
Pete was first.
Shiv was a year after.
Yeah, he was the longestonboarding of my entire life.
Shiv Nair (14:41):
I think it took about two years.
Tim Snell (14:42):
Those cupboards behind you took about two years.
Tom Panos (14:45):
Wow, wow.
Frequency builds trust.
But I've got to tell you therewas 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
(15:06):
going to open another office,the first reaction, if you
remember Peter, was, pete, slowdown, there's five in a short
period of time, bet them down.
And then he says it's not aswhat you think, I'm actually
going in with an incredibleoperator.
This guy is one of the best.
(15:27):
He then mentioned the name.
Of course, I know Shiv very,very well.
I've been to Shiv's office forat least 15 training sessions,
or 10 to 15.
And I know what a great riderhe is.
So, shiv, you're still riding afew million in GCI, aren't you?
Yeah?
Shiv Nair (15:43):
yeah, so last year was the best so far.
We finished up in about 3.2.
Yeah, that was good Okay.
Tom Panos (15:50):
Well, let's take this opportunity, because we are
live on social media as well.
Tim, maybe, as a CEO, youformally announced the new joint
venture, or which way you wantto describe that's happening out
there in that part of the world.
Tim Snell (16:06):
Yeah, 100%.
I think this is a reallyexciting thing for a number of
reasons, because there'smultifaceted, obviously, I think
the first thing that's worthmentioning is the Diamantidis
group is no more.
Ray White Diamantidis group isending, but it's happening
because of a really positivemove and we're actually really
happy to announce the new groupformed, called Ray White United
(16:27):
Group, with Peter Diamantidisgood office, and that's going to
be the merger which I'll getthese two to talk about.
But I think what thisrepresents for us as a network
is really the direction of wherewe'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
(16:50):
leadership.
Um, we know when, when, whenpeach joined us, and peach is
one of many of our greatmulti-office leaders.
We believe that leaders, theirprimary purpose, is to create
leaders.
It's not just about beingnumber one, being out in front
and just being a great writer,which Peter is and certainly
Shiv is, and we've got many ofthose inside of our business,
but they're the ones that aspireto make others better.
(17:12):
The first responsibility of ourbusiness owners is to control
their own backyard, to controltheir core market.
Shiv Nair sits there and he'sconstantly between 30, 40 and
upwards of 50, depending on ifhe's had any holidays or not a
percent market share of his coremarket of Glenwood.
Pete started in St Mary's,constantly sitting in that 40,
(17:33):
50 and 60, sometimes dependingon the month market share of St
Mary's as he's expanded into StClair, expanded into Rudy Hill
and everywhere in between MountDruitt, he just continues to
grow market share, not becausehe's a great individual, which
he is, but because of the peoplethat he brings in the business
and develops.
So this Ray White United group,which I think it's probably
(17:54):
better for Pete to explain, is areal celebration of that.
It's not the celebration of theindividual but the celebration
of the many, the collaborationand the power of those people
working in collaboration.
So on behalf of the whole RayWhite group, we're really
excited to announce thatcollaboration, that partnership
and that continued partnershipas we've renewed our
(18:16):
relationship with Peter as partof this union as well.
Tom Panos (18:20):
Beautifully said, tim , beautifully said.
I want to put it to you bothguys.
Why the merger in the firstplace?
Why the merger?
Why are we taking west meetsnorth?
What's the reason?
Because one's north, one's westright.
Why the merger Over to youboys's west right?
Why the merger over to you boys?
Peter Diamantidis (18:39):
well, um, I'll start first, you don't mind
shift.
So so I've known shift for 10years.
Um, you know we both came fromfrom different networks.
You know we're in the ray whitegroup.
Um, you know, if everyone,anyone knows me, I'm very
ambitious, I want to keepgrowing.
Um, and I've known shiv.
Conversations you know tookplace where you know he's also
(19:00):
growing in in the hills marketas well and I thought it was,
you know, a great understanding.
Then, you know, rather than youknow, peter come, you know,
with with his team, to the hills.
We merge with uh, with a greatoperator, a great salesperson, a
great salesperson, a great teamover there off ship.
So, knowing ship for many, manyyears, I thought it would be
(19:20):
the best move to do.
You know and you know United,we are one.
You know we had a good thinkabout it when I opened up this
business.
Diamond Teters Group.
Reason why I used DiamondTeters Group was I was in some
areas.
You know everyone knew PeterDiamond Teters.
They didn't know Ray White atthe time.
Um, reason why I used diamondtitus group was I was in some
areas.
You know we, you know everyoneknew peter diamond titus.
They didn't know ray white atthe time, similar to shiv.
(19:42):
You know shiv will explain.
You know his story with raywhite.
But now that we're growing intoother areas we do have very
good leaders, team members, uh,that we're growing into the
business, um, and it's not justin you know, one or two
locations.
In some cases it's probablymore than double digits and I
think it's the best move for usto do Over to you, shiv Shiv.
Tom Panos (20:05):
why did you do the merger?
Shiv Nair (20:07):
Yeah, like what Pete said, we've known each other
for a very long time, about 10years.
We actually met when we wereworking at Raynard Horn, which
was a very, very long time ago,when I first started real estate
what 10 years ago?
And for me having someone likePete next to me to further grow
is what I was looking for and,like what Pete said as well,
(20:27):
this office is the first of manywhich we can then work on and
further grow in the hills aswell.
So having someone like Petenext to me, who again is a
proven and, you know, verysuccessful business owner as
well and leader, you know,someone I can also learn from as
well and grow with, so hereally 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
(20:49):
and the whole team's pumped youknow to I ask you mentioned
before.
Tom Panos (21:00):
You do have other case studies of franchisees that
have got multiple businesses inthe 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 thatsometimes it can get
overwhelming.
What have you seen as commondenominators of people that are
able to run multiple offices?
Tim Snell (21:22):
Yeah, look, the answer to that is really simple.
It's that you can't do it byyourself.
You know there is someexceptions 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 yearsreally doing it all by
(21:43):
themselves and it's a realcredit to them the amount of
energy and effort and you knowblood, sweat and tears they've
had to put in to get it to thispoint.
But when you get to a certainsize, when you get to a certain
point, and certainly when youactually add the really
difficult part, which is to adda second premise, is how do you
transition culture?
Because it's really easy tomaintain culture when you can
(22:07):
see everyone there around you.
You can listen to them on thephone, you can see how they show
up, how they dress, you knowhow they appear, you know
whether they're actually hungryand humble and smart.
But what happens if they'redown the road and you're in St
Mary's and they're in MountDruitt, you know Well, you need
other people that are investedin the vision.
So number one is you can't doit by yourself.
(22:28):
You need other people that areinvested.
But number two is you need areal clarity of vision, and you
know this concept of unitedgroup, this concept of what that
stands for.
I mean, yeah, it's going on thesign boards, yeah, it's a nice
name, but it actually meanssomething you know it's.
It's a way that we show up, it'sthe way that we treat each
(22:48):
other.
It's a standard that not we,that we don't just hold as
leaders, but it's actually asthe players on the field and the
performers hold each otheraccountable to.
And the clearer that vision is,the more our people are
empowered to actually keep eachother accountable and raise that
bar for each other.
Not only does that actuallywork for the team members we've
already got, but, moreexcitingly, it attracts other
(23:11):
people, people that maybe seethat vision, see that culture,
see that energy, and they don'thave it where they have.
And I'm talking about peoplethat are looking to start in the
industry, people that areinside this gym not that we're
using this for that purpose, butyou know people that suddenly
go man, I can feel what theseguys are about, and it's not
just talk, it's real and it'sbacked up by action.
(23:32):
You know, that's what I wouldsay is really consistent with
all of our shops that succeededthis space.
Tom Panos (23:39):
Tim, or maybe I'll ask better direct was there a
lot of resistance, or was itdifficult for you to come to the
decision that, by name, thename that I'm born with is no
longer defining the companiesthat I've built?
Peter Diamantidis (23:55):
Not at all, and this is where it comes to.
Before we started this aboutbeing a salesperson and letting
the associate be the main agent.
Reason is you need to take yourego, you need to take you away.
Now it doesn't mean that I'mout of the business.
I'm still selling, stilllisting, still managing.
But it's about the team, andthis is where it comes down to.
(24:16):
Leadership comes your team,comes before you.
Just remember that if you can'tdo that, it's like winning
awards they're great, but I'dprefer to have 10 of my team
members be on the stage and I'llbe 11th, because you know for
them, it means a lot more tothem.
You know, winning thoseindividual awards.
And that's what we want to do.
We want to, we want to growleaders, we want to grow winners
(24:38):
.
Um, and and I think that's thebest way to show it is I've
taken my name out of thebusiness, 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 worddirector, you know, because you
know I like using the wordsfounder or leader or something
like that.
You know what I mean, tom.
So for me, definitely, ithasn't affected me one bit.
Tim Snell (25:00):
I think there's a natural maturity to this, though
you know you take a look at alot of our businesses that have
built their business off oftheir name and you're looking at
two directors that have donethis, and we've got plenty of
people in the Ray White shopsthat have had success doing this
.
It really does make sense whenyou are the brand, you are the
name to put that out there, butit shows the maturity of where
(25:23):
this business is at that.
The business has become biggerthan the leader and you know
we've seen a lot of people thatcome into a business like the
Diamantitas Group and you know,leveraging that name.
It's so good for them when theyhave no name themselves.
Tim Snell means nothing in thecommunity of St Mary's.
So for me to pick up the phoneand to say, hey, look, it's Tim
(25:45):
Snell on behalf of Ray White,the Diamantitas Group, I get in
a lot of doors, I get an instantcredibility, 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 tobe able to say, look, I'm Tim
Snell from Ray White, or I'm TimSnell from Ray White, united in
this case, and I'm empowered toactually build up my own
(26:07):
profile, my own team, and I'mnot being sort of seen as second
fiddle to the director.
So I think there's a time and aplace.
But if you look at these longbig businesses that you've asked
about, a lot of them havestarted on this path.
But when you're looking aboutbusinesses that have gone
through longevity, that have gotlegacy and that have grown
beyond just the individual, thisis sort of a really a lasting
(26:29):
model.
Tom Panos (26:30):
Yeah, well, I've got to say I can see Tim already
because I know both thesegentlemen.
Can see Tim already because Iknow both these gentlemen.
And as a proportion of listings, auctions versus private treaty
, shiv's very, very heavy on theauction front right Diamond
Teed is.
He's been growing hisproportion of auction listings
versus private treaty in amarketplace that traditionally
(26:52):
has been a for-sale marketplace.
So I can see the benefit there.
I can also see SHIB's pricepoint is about double, I would
assume, or triple or triple,right.
So there are elements therethat I can see the relationship
is going to go two-way.
And you know, quite frankly, Iwould suggest that you know real
(27:15):
estate agents that are shivvingin your marketplace and the
surrounding marketplace wouldknow that they're going to have
what was already a very strongRay 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.
(27:35):
Congratulations and thank youfor the opportunity of using our
real estate gym platform on aTuesday afternoon to share that
message out there.
So outstanding, tim.
One final thing You've got themost.
I mean the Ray White Group isthe largest group in Australia,
in Australasia, australia andNew Zealand.
(27:56):
You've got the data set that noone can match.
What are you seeing, just formy gym members to see and also
the wider community that'swatching it on social media?
The forecast for the future.
You know we've got a few layersof elections, holidays, easter
we've got a lot of things goingon.
What's the view of the RayWhite group and I know you
(28:19):
employ multiple economists inyour group what's the view there
of the future?
Tim Snell (28:25):
Well, I reckon the most value I could probably
provide your people today is notwhat you already know.
We already know what'shappening with listings, with
days on market.
We know that the auctions are alittle 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 interestingthing is our biggest lead
indicator at Ray White.
And when I say lead indicator,listings are already listed,
(28:49):
solds, already sold, like thatstuff's already done.
You can make incrementalchanges to those things but
frankly, that's a reflection ofthe work that was done six to
eight weeks ago, which is ourappraisal numbers.
And so we watch our appraisalnumbers really religiously
because it is a absoluteforesight into the future.
And what's interesting is thisOur appraisal volume has dropped
(29:12):
off a cliff, like not a shortlittle decay, like a sharp
decline.
And there's a reason for thatPeople are needing more energy
to sell stock, so they'reputting more energy into the
sales.
They're having to keep salestogether and spend a little bit
more energy there.
Listings are slowly listingvolumes are slowly starting to
creep up if we're not able toclear them.
(29:32):
So we're seeing a gap startingto grow between those that can
clear stock and those that can't, because some are getting
frustrated with overpricedvendors that have already priced
in maybe the next six to 12 to24 months worth of value.
That perhaps hasn't beenreflected by buyers yet.
But like night comes to day,what we're currently seeing in
(29:54):
the volume of appraisals beingconducted is that we're going to
be heading into a very lightlisting month coming into the
future and maybe that's not aproblem if you've got heaps of
stock that you can't sell.
But naturally that's going tobecome a stock shortage, heading
into the sort of cooler monthsif something doesn't change
quickly.
So we're really worried aboutthat.
(30:16):
Worried's not the right word,you know, but we're really.
We're talking about that a lotbecause you know, if we saw a
small decay, naturally we'd headinto winter months and that's
normal.
But we just know that we needconsistency, we need stock in
and stock out and as soon as ourguys 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 actuallydon't have enough to sell.
(30:38):
So I think there's plenty ofopportunities.
Clearance isn't 80%, but we'respoiled in New South Wales.
If things aren't 80%, we thinkthe market's bad, the market's
balanced.
You can do a deal.
It's a little bit harder butfrankly, buyers are buying and
sellers are selling.
If you can do a, can do goodstock management process, but
our best businesses are stillfocusing on keeping consistency
(31:01):
in pipeline, because we knowthat some businesses aren't and
those businesses are going toend up with a cold winter.
Tom Panos (31:07):
Well, that's a very, very I mean.
I'm not happy hearing theobservation because I myself
also know when I'm dealing withagents at a micro level, not a
macro level.
All I know is if you've got agood listing month, in March's
going to be a significant dropin gci commissions in real
(31:33):
estate across the country.
The only thing is tim is ifthere's an election result that
favors property more, right, I'mnot 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 ofpeople that decide that's it,
(31:54):
we're going to put it on themarket centre.
It is good, but they're goingto have to do it pretty much
soon in May, because you knowwhat June and July look like,
don't they?
Tim Snell (32:04):
Well, like, here's what we know.
Right, here's what we know isthat the Sydney marketplace is
the most volatile, and that's areally positive thing, I think,
because we're always the firstto be hit negatively when you
know interest rates go up orthere's uncertainty.
You know, you take a look atwhat's happening in the stock
(32:24):
market in terms of uncertaintyaround global tariffs and all
that kind of stuff, and Sydneyand New South Wales are usually
the most impacted by that and Idon't really know the reason why
, but we just are.
But the really positive thingto that is that we're also the
first to bounce, we're alwaysthe first to respond, and if you
recall the last time propertywas such a hot topic of the
(32:48):
election, I would say I mean,it's hot every year, but it's
not so much the last electionbut the one before.
If you've been around longenough to remember that, you'll
remember in the weeks leading upto that auction like if you
were lucky to even have thevendor at your auction, let
alone a buyer and literally theweek after the election, liberal
got in.
(33:08):
When we didn't anticipate, likeeveryone thought that Labor was
getting in, liberal got in andlike all that talk about
negative gearing and all thatwhich seems to pop up every
election that got squashed.
The market just spiked.
And you know, every time themarket spikes, it's the
businesses that have, that aregeared for capacity, that have
actually done the work, done thelegwork, are talking to
(33:29):
prospective vendors where no oneelse is.
They're the ones that win, andthat's kind of the point.
We know that people arespending less energy talking to
prospective vendors.
And, to your point, we don'tknow if the market's going to
spike after the election in fourweeks, but we do know that, if
it does spike, the people thatare speaking to the prospective
vendors, the people that arekeeping them updated, are
(33:49):
talking about the facts talkingabout the facts, talking about
the data, they're the onesgetting the phone calls when the
confidence comes in.
Tom Panos (34:00):
Yeah well, it sounds like, and you know Tim well
enough.
Now, if you're a seller, by thesounds of it, you're probably
going to be better off coming onin May, even June, than in
September, October, isn't it?
Tim Snell (34:11):
Well, look, we were at Macquarie Bank yesterday and
we got to hear a lot of theirforecasts as well, which is
always interesting.
But most economists are sayingthe same thing.
Most economists are suggestingthat no one was surprised with
today's result.
Most economists are pricinginto the marketplace probably
two more rate drops this year Iwould love to say three, but
(34:33):
it's pretty low that three.
But every economist agrees that2026 is going to be pretty
positive for pricing, you know,barring some kind of global
uncertainty.
But you know, all things stayin the way they are.
Interest rates drop a few moretimes over the course of this
year.
2026 is geared to be good forpricing in New South Wales,
according to more projections.
(34:54):
That being said, when was thelast time a projection was
correct?
I don't know.
But that all being the case,you're 100% right.
Once confidence comes into themarketplace, sellers come in
quickly.
So you know you're better offto get involved before they
flood for certain.
Tom Panos (35:11):
All right.
Thank you, Tim, Peter and Shiv.
Congratulations, Welcome to RayWhite United Group.
Peter, congratulations on yoursixth venture.
Shiv, congratulations onmarrying a fantastic business
partner, because that's what itis.
It's there.
(35:32):
An absolute pleasure to see youall, and thank you to all our
listeners coming in.
You've heard it.
I've got to tell you make haywhile the sun's there.
Right now.
There is deals being done.
Maximise it.
We know that April we've gotAnzac Day, Easter, school
holidays, election campaigns.
(35:53):
Anyway, Tim, thank you so much.
Thank you to all.
Thank you, thank you, thank you.
Peter, I've got to say how long have I actually
known you, pete?
Peter Diamantidis (00:09):
We did our first interview in 13 and I met
you in, I think, 2009 or 10.
Tom Panos (00:15):
Okay, and I remember you coming to News Corp at
Alexandria and we were sittingin there.
In fact, I was just having alook.
For those of you that want totake this further today, I'm
letting you know that if youcome into the real estate gym
and I'm going to just bring itup here under presenters I'll
(00:43):
bring it up here.
Come into Zoom.
I'd love you all to scroll downafter today, because we've only
got half an hour today, butwhat you need to do is to sit
down.
Scroll down to P PeterDiamantidis, and what I'd love
(01:04):
you to do is have a look at thecontent that we've had for Peter
.
This was this year, making 250deals a year.
This was his ARIC presentation,which he blew off the park.
This is when Susan was involvedin an interview.
This is when you came to myhome and then we went and had
(01:24):
Japanese I don't know if youremember that day Yep, yep.
And this is when you were alittle pup.
Yep, there, right, how manyyears in real estate, peter.
Peter Diamantidis (01:35):
This will be end of the year will be 23 years
.
Tom Panos (01:38):
End of the year will be 23 years.
Okay, years.
Okay, now, peter, tell peoplewho are watching this a little
bit about your background inreal estate.
You in fact worked for one realestate office for a couple of
decades before you actually wentout on your own.
Peter Diamantidis (01:59):
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 thereat that one place for 18 years,
okay.
You know how many offices now.
Tom Panos (02:20):
Yesterday five and today there's another one, which
we're not going to tell peopleat the moment, but yesterday it
was five, Correct, but todayit'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 howmany sales, did you do, pete?
Peter Diamantidis (02:35):
So this been the year I should crack, settled
between 330 to 350.
Tom Panos (02:41):
Okay, so how many staff in total have you got
across your companies?
Peter Diamantidis (02:49):
All companies now onshore just over 100, and
offshore 25.
Tom Panos (02:55):
Okay, so you're known as being the million-dollar
agent factory because you've gota process and your process is
very simple and I've seen thatwith my own eyes.
Ellie is an example.
Comes in what was he before?
He was a hairdresser working asa hairdresser, cutting people's
hair, comes into real estate.
(03:17):
They start off as junior agentstrying to master two real
skills working buyers andprospecting correct, correct.
And then what you do is youmove them up and they're in an
EBU and during the EBU periodthey're fine tuning
qualification with buyers,following up buyers, showing
(03:42):
property, committing buyers togive an offer.
They're not actually puttingthe offer to the vendor
themselves, they're not puttingthe deal together, they're
actually essentially justlearning great buyer work and at
the same time they're learningprospecting, and that's door
knocking on the phones.
Peter, you showed me the stats.
(04:03):
I saw them with my own eyes.
That last month, where youshowed me the Nurture Cloud
calls, your company's got numberone in the Ray White group in
New South Wales or Australia.
Peter Diamantidis (04:16):
Australia White.
Tom Panos (04:18):
How many calls was it ?
Peter Diamantidis (04:19):
Just under 24,000.
Tom Panos (04:22):
24,000 calls.
So these people, they're onthere doing calls.
You also have people offshoredoing calls for you, correct,
and then you move.
And then the next step is what?
They become a standalone agent.
Peter Diamantidis (04:35):
Yeah, they become a standalone.
So a bit of the process.
If we rewind it back.
Ellie's a good example came onas an associate, of course,
stuck with me like glue prettymuch.
So what I've always found isthat you want them to basically
leverage off your results,leverage off your name.
You know, when somebody startsnew in an area, you always get
(04:58):
this brochure in the letterboxthat says me, I'm new to the
area.
You know what I mean.
We didn't want that.
We wanted it to basically meanPeter's with Ellie, for example,
which means that we're together.
We would go to appraisalstogether, we would show buyers
together, and that started tothen rub off.
Next step to that is even beingan associate.
(05:18):
We wanted to make sure thattheir face was in the community.
They're on signboards, they'reon DL drops with me, everything
like that.
So it started to become atrusted name in the area.
So everyone knew Peter, but nowthey know Ellie.
And then now from Ellie youknow, if we fast forward many
years, he's running technicallyhis EBU and it's the same thing.
(05:38):
His associates are running offhis name.
So it's like a legacy, if youknow what.
Tom Panos (05:45):
I mean.
So who's the main agent, Peter,and how does it work?
The main and the secondaryagent?
Peter Diamantidis (05:55):
So what we normally do is let's say for me
it's a little bit different.
So let's say in the audience ifyou've got a selling principle,
number one rule I've alwaysdone is you need to put your
associate first and you need togo second.
Now sometimes you might feeluncomfortable with that because
they may not know the ropes, butyou're following that, that
campaign right through.
So for me, for my associates,why we don't get too many
associates that will end noassociates that will ever leave
our business, is we make surethat if you're a standalone, if
(06:19):
you're working underneath meunder we call it Pete's Academy
we want to make sure that youknow you, you get a lead in.
If it's an appraisal, weconvert it together.
You go to main agent, I gosecond agent.
So if you go into realestatecomnow, you might say, oh well,
peter's only sold 260 or 270properties in 12 months, but
(06:39):
it's because the the main, themain goal for me is to grow
these agents faster.
And how can you grow agentsfaster if you don't put their
names on anything?
How many times have you seenassociates where they've been an
associate for two years and yougo who's this person?
You're not even an assault sign.
You're not even as an agent, soyou manage the whole process.
You look at the vendor reports,you have the meetings together,
(07:02):
they're answering the calls, soyou're pretty much chucking
them in the deep end faster, butyou're guiding them through the
process.
Tom Panos (07:10):
Okay, pete, have you got any feedback you can give us
on the timing it takes to getsomeone who's a hairdresser or
no experience in real estate,comes through Pete's Academy and
then comes through the funneland becomes a standalone agent?
(07:31):
How long can they do thatprocess in?
Peter Diamantidis (07:34):
The quickest I've had is eight months, and
probably between eight to 15months.
If you said an average thatI've had go through for our
business eight to 15 months.
Tom Panos (07:45):
Okay, so we clearly know that the prospecting side
of your business is them doingcalls and door knocks.
Peter Diamantidis (07:54):
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 thatit's coming onto the market
without commission breath.
So you want to be more of anadvisor advising people when a
property sells, when a propertyis listed, uh, your database,
(08:15):
the good benefit we have is andI don't know if you've got many
um, you know um gym members,anyone watching that's with rain
, white, but our nurture clouduh 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 (08:31):
But apart from the outbound phone calls and
prospecting and the NurtureCloud, your business is really
heavy-duty on marketing, reallyheavy-duty on content, going out
, giving awareness of theDiamond TDs Ray White group, and
that includes digital, I meanobviously social.
(08:54):
And just tell me what is themarketing, what does it look
like and what's the frequencyand the consistency of it.
Peter Diamantidis (09:02):
So it's like a blueprint.
I always believe, you know, instarting this journey, when I
opened the first office in 21,.
You need brand awareness.
Now brand awareness is itdoesn't give you automatic
success.
You're not going to get peopleringing you off a DL drop or
I've seen a signboard, but Iwanted to make sure that it was
consistent.
So from the first moment whenwe started doing, say, 5,000
(09:25):
letterbox drops to now thatwe'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 wesold.
This is what we sold.
So it was basically every monthin your letterbox, in your
emails, via text message,everywhere that you could look,
we would be on the shopping list.
(09:46):
So that was the number one ruleI've always believed in.
I know with some agents, youknow they may think that doing a
DL drop today, you're going toget a phone call today, but it's
playing the long game.
I've always played the longgame and you know that, tom,
I've never been this one.
That's, you know, looking to.
(10:07):
You know, get somebody rightnow and sell, I'd love that.
But you've got to nurture itand the first thing is your
letterbox drops, uh, your yourdl's, uh, it could be social
media posts.
Now, in social media, you knowI'm not going to get 4 000
people, you know, sending memessages to say to sell your
home, but guess what, when thetime comes?
And they, peter, I've beenfollowing you for three years,
(10:27):
you're doing well.
Now you know, I want you outthere to give me an appraisal.
At least I'm one out of threeagents.
I never had that otheropportunity.
So the key word and everyonetalks about it it is consistent.
Consistent marketing locally.
Consistent marketing digitally.
If it's just your sub-statisticdrops, whatever they are, it
needs to be consistent.
Tom Panos (10:48):
Okay, I want to ask your time.
I think it's a real skill torun a business and to run an EBU
and I think if you've got theability to do it right to run a
business and run an EBU you tickboth boxes, because you can
(11:09):
make a hell of a lot of moneyand show leadership by leading
by example if you run your ownEBU, because when you don't do
that, you're like the dictatordo that, do that, do that.
When you're doing it, you'releading by example.
But, on the same token, mantime and trying to do your EBU
(11:29):
as well as all these otherbodies hey, pete, have you got a
moment?
Hey, pete, have you got amoment?
Hey, pete, have you got amoment?
Pete, have you got a momentright?
Any ideas that you can sharewith people that are principals,
that are also running ourdirectors EBU on managing that?
Peter Diamantidis (11:46):
definitely so .
The first thing they'll bebasically doing is sitting down
like, let's say, tonight, sitdown at seven o'clock.
Make a list of things that youcan delegate, you know?
Does that mean?
You know?
You know the staff are callingyou because they're sick?
That day needs to be delegated.
Are you paying?
you know the payroll yourselfdelegate it um, you need to
(12:06):
delegate anything that uh is nonyou know dollar productive.
Now some people might say we'rerunning a small business, we
can't afford it.
Get a va spend 15,000 10,000 ayear.
Let Let them do the payroll.
I started to eliminate a lot ofthings out of my life, so you
know a lot of my personal stuff.
Where I was doing, you knowproperty development and things
(12:26):
like that I've made sure thatthat's after 6 pm.
Now you know what I mean.
It's not happening at 10o'clock, and then I'm coming for
open houses and things likethat.
So I've structured myself.
Every Sunday I sit down, I lookat my week.
I have one day off, what I callone day off, meaning I'm not
going to be in the office.
This week will be Thursday.
So then I work around that Withmy vendors.
(12:49):
Everyone's on WhatsApp, so itcould be voice recording calls,
messages.
They're getting updated.
My EBU are sending the vendorreports, uh, the ebus that you
know are doing.
You know my associates aredoing.
You know your copyrights, yourvendor marking, whatever it is.
I'm basically listing, selling,negotiating.
(13:09):
That's pretty much it.
That's all I'm doing.
But it just comes down tostructuring your day.
Tom Panos (13:15):
Beautiful.
Now what I'd love to do isbring Tim Snell on and Shiv Nair
on.
Okay, so Susan in thebackground.
I haven't seen Tim in ages.
How are?
Peter Diamantidis (13:30):
you Good to see you.
Tom Panos (13:31):
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, andthere'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 benchpress.
I was looking at you the otherday doing his bench press,
(13:51):
staying fit.
Shiv Nair (13:52):
Just being inspired.
By you, mate.
Tom Panos (13:55):
Yeah, 100%.
Now listen, I'm just gettingnervous here.
I've just seen my computer goto low battery.
I'm stressing yes, it's turnedback on, beautiful, turned back
on there.
Let's bring that back there.
Tim, you've got to be terriblyproud as the Chief Executive
(14:15):
Officer of the Ray White Group.
You've got to be terribly proudwhen you see, well, both are
young men.
You know you've had a number ofyoung men join the group New
Business Energy.
Shiv joined.
How long after?
Who joined first, shiv?
Tim Snell (14:35):
or Pete.
Pete was first.
Shiv was a year after.
Yeah, he was the longestonboarding of my entire life.
Shiv Nair (14:41):
I think it took about two years.
Tim Snell (14:42):
Those cupboards behind you took about two years.
Tom Panos (14:45):
Wow, wow.
Frequency builds trust.
But I've got to tell you therewas 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
(15:06):
going to open another office,the first reaction, if you
remember Peter, was, pete, slowdown, there's five in a short
period of time, bet them down.
And then he says it's not aswhat you think, I'm actually
going in with an incredibleoperator.
This guy is one of the best.
(15:27):
He then mentioned the name.
Of course, I know Shiv very,very well.
I've been to Shiv's office forat least 15 training sessions,
or 10 to 15.
And I know what a great riderhe is.
So, shiv, you're still riding afew million in GCI, aren't you?
Yeah?
Shiv Nair (15:43):
yeah, so last year was the best so far.
We finished up in about 3.2.
Yeah, that was good Okay.
Tom Panos (15:50):
Well, let's take this opportunity, because we are
live on social media as well.
Tim, maybe, as a CEO, youformally announced the new joint
venture, or which way you wantto describe that's happening out
there in that part of the world.
Tim Snell (16:06):
Yeah, 100%.
I think this is a reallyexciting thing for a number of
reasons, because there'smultifaceted, obviously, I think
the first thing that's worthmentioning is the Diamantidis
group is no more.
Ray White Diamantidis group isending, but it's happening
because of a really positivemove and we're actually really
happy to announce the new groupformed, called Ray White United
(16:27):
Group, with Peter Diamantidisgood office, and that's going to
be the merger which I'll getthese two to talk about.
But I think what thisrepresents for us as a network
is really the direction of wherewe'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
(16:50):
leadership.
Um, we know when, when, whenpeach joined us, and peach is
one of many of our greatmulti-office leaders.
We believe that leaders, theirprimary purpose, is to create
leaders.
It's not just about beingnumber one, being out in front
and just being a great writer,which Peter is and certainly
Shiv is, and we've got many ofthose inside of our business,
but they're the ones that aspireto make others better.
(17:12):
The first responsibility of ourbusiness owners is to control
their own backyard, to controltheir core market.
Shiv Nair sits there and he'sconstantly between 30, 40 and
upwards of 50, depending on ifhe's had any holidays or not a
percent market share of his coremarket of Glenwood.
Pete started in St Mary's,constantly sitting in that 40,
(17:33):
50 and 60, sometimes dependingon the month market share of St
Mary's as he's expanded into StClair, expanded into Rudy Hill
and everywhere in between MountDruitt, he just continues to
grow market share, not becausehe's a great individual, which
he is, but because of the peoplethat he brings in the business
and develops.
So this Ray White United group,which I think it's probably
(17:54):
better for Pete to explain, is areal celebration of that.
It's not the celebration of theindividual but the celebration
of the many, the collaborationand the power of those people
working in collaboration.
So on behalf of the whole RayWhite group, we're really
excited to announce thatcollaboration, that partnership
and that continued partnershipas we've renewed our
(18:16):
relationship with Peter as partof this union as well.
Tom Panos (18:20):
Beautifully said, tim , beautifully said.
I want to put it to you bothguys.
Why the merger in the firstplace?
Why the merger?
Why are we taking west meetsnorth?
What's the reason?
Because one's north, one's westright.
Why the merger Over to youboys's west right?
Why the merger over to you boys?
Peter Diamantidis (18:39):
well, um, I'll start first, you don't mind
shift.
So so I've known shift for 10years.
Um, you know we both came fromfrom different networks.
You know we're in the ray whitegroup.
Um, you know, if everyone,anyone knows me, I'm very
ambitious, I want to keepgrowing.
Um, and I've known shiv.
Conversations you know tookplace where you know he's also
(19:00):
growing in in the hills marketas well and I thought it was,
you know, a great understanding.
Then, you know, rather than youknow, peter come, you know,
with with his team, to the hills.
We merge with uh, with a greatoperator, a great salesperson, a
great salesperson, a great teamover there off ship.
So, knowing ship for many, manyyears, I thought it would be
(19:20):
the best move to do.
You know and you know United,we are one.
You know we had a good thinkabout it when I opened up this
business.
Diamond Teters Group.
Reason why I used DiamondTeters Group was I was in some
areas.
You know everyone knew PeterDiamond Teters.
They didn't know Ray White atthe time.
Um, reason why I used diamondtitus group was I was in some
areas.
You know we, you know everyoneknew peter diamond titus.
They didn't know ray white atthe time, similar to shiv.
(19:42):
You know shiv will explain.
You know his story with raywhite.
But now that we're growing intoother areas we do have very
good leaders, team members, uh,that we're growing into the
business, um, and it's not justin you know, one or two
locations.
In some cases it's probablymore than double digits and I
think it's the best move for usto do Over to you, shiv Shiv.
Tom Panos (20:05):
why did you do the merger?
Shiv Nair (20:07):
Yeah, like what Pete said, we've known each other
for a very long time, about 10years.
We actually met when we wereworking at Raynard Horn, which
was a very, very long time ago,when I first started real estate
what 10 years ago?
And for me having someone likePete next to me to further grow
is what I was looking for and,like what Pete said as well,
(20:27):
this office is the first of manywhich we can then work on and
further grow in the hills aswell.
So having someone like Petenext to me, who again is a
proven and, you know, verysuccessful business owner as
well and leader, you know,someone I can also learn from as
well and grow with, so hereally 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
(20:49):
and the whole team's pumped youknow to I ask you mentioned
before.
Tom Panos (21:00):
You do have other case studies of franchisees that
have got multiple businesses inthe 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 thatsometimes it can get
overwhelming.
What have you seen as commondenominators of people that are
able to run multiple offices?
Tim Snell (21:22):
Yeah, look, the answer to that is really simple.
It's that you can't do it byyourself.
You know there is someexceptions 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 yearsreally doing it all by
(21:43):
themselves and it's a realcredit to them the amount of
energy and effort and you knowblood, sweat and tears they've
had to put in to get it to thispoint.
But when you get to a certainsize, when you get to a certain
point, and certainly when youactually add the really
difficult part, which is to adda second premise, is how do you
transition culture?
Because it's really easy tomaintain culture when you can
(22:07):
see everyone there around you.
You can listen to them on thephone, you can see how they show
up, how they dress, you knowhow they appear, you know
whether they're actually hungryand humble and smart.
But what happens if they'redown the road and you're in St
Mary's and they're in MountDruitt, you know Well, you need
other people that are investedin the vision.
So number one is you can't doit by yourself.
(22:28):
You need other people that areinvested.
But number two is you need areal clarity of vision, and you
know this concept of unitedgroup, this concept of what that
stands for.
I mean, yeah, it's going on thesign boards, yeah, it's a nice
name, but it actually meanssomething you know it's.
It's a way that we show up, it'sthe way that we treat each
(22:48):
other.
It's a standard that not we,that we don't just hold as
leaders, but it's actually asthe players on the field and the
performers hold each otheraccountable to.
And the clearer that vision is,the more our people are
empowered to actually keep eachother accountable and raise that
bar for each other.
Not only does that actuallywork for the team members we've
already got, but, moreexcitingly, it attracts other
(23:11):
people, people that maybe seethat vision, see that culture,
see that energy, and they don'thave it where they have.
And I'm talking about peoplethat are looking to start in the
industry, people that areinside this gym not that we're
using this for that purpose, butyou know people that suddenly
go man, I can feel what theseguys are about, and it's not
just talk, it's real and it'sbacked up by action.
(23:32):
You know, that's what I wouldsay is really consistent with
all of our shops that succeededthis space.
Tom Panos (23:39):
Tim, or maybe I'll ask better direct was there a
lot of resistance, or was itdifficult for you to come to the
decision that, by name, thename that I'm born with is no
longer defining the companiesthat I've built?
Peter Diamantidis (23:55):
Not at all, and this is where it comes to.
Before we started this aboutbeing a salesperson and letting
the associate be the main agent.
Reason is you need to take yourego, you need to take you away.
Now it doesn't mean that I'mout of the business.
I'm still selling, stilllisting, still managing.
But it's about the team, andthis is where it comes down to.
(24:16):
Leadership comes your team,comes before you.
Just remember that if you can'tdo that, it's like winning
awards they're great, but I'dprefer to have 10 of my team
members be on the stage and I'llbe 11th, because you know for
them, it means a lot more tothem.
You know, winning thoseindividual awards.
And that's what we want to do.
We want to, we want to growleaders, we want to grow winners
(24:38):
.
Um, and and I think that's thebest way to show it is I've
taken my name out of thebusiness, 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 worddirector, you know, because you
know I like using the wordsfounder or leader or something
like that.
You know what I mean, tom.
So for me, definitely, ithasn't affected me one bit.
Tim Snell (25:00):
I think there's a natural maturity to this, though
you know you take a look at alot of our businesses that have
built their business off oftheir name and you're looking at
two directors that have donethis, and we've got plenty of
people in the Ray White shopsthat have had success doing this
.
It really does make sense whenyou are the brand, you are the
name to put that out there, butit shows the maturity of where
(25:23):
this business is at that.
The business has become biggerthan the leader and you know
we've seen a lot of people thatcome into a business like the
Diamantitas Group and you know,leveraging that name.
It's so good for them when theyhave no name themselves.
Tim Snell means nothing in thecommunity of St Mary's.
So for me to pick up the phoneand to say, hey, look, it's Tim
(25:45):
Snell on behalf of Ray White,the Diamantitas Group, I get in
a lot of doors, I get an instantcredibility, 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 tobe able to say, look, I'm Tim
Snell from Ray White, or I'm TimSnell from Ray White, united in
this case, and I'm empowered toactually build up my own
(26:07):
profile, my own team, and I'mnot being sort of seen as second
fiddle to the director.
So I think there's a time and aplace.
But if you look at these longbig businesses that you've asked
about, a lot of them havestarted on this path.
But when you're looking aboutbusinesses that have gone
through longevity, that have gotlegacy and that have grown
beyond just the individual, thisis sort of a really a lasting
(26:29):
model.
Tom Panos (26:30):
Yeah, well, I've got to say I can see Tim already
because I know both thesegentlemen.
Can see Tim already because Iknow both these gentlemen.
And as a proportion of listings, auctions versus private treaty
, shiv's very, very heavy on theauction front right Diamond
Teed is.
He's been growing hisproportion of auction listings
versus private treaty in amarketplace that traditionally
(26:52):
has been a for-sale marketplace.
So I can see the benefit there.
I can also see SHIB's pricepoint is about double, I would
assume, or triple or triple,right.
So there are elements therethat I can see the relationship
is going to go two-way.
And you know, quite frankly, Iwould suggest that you know real
(27:15):
estate agents that are shivvingin your marketplace and the
surrounding marketplace wouldknow that they're going to have
what was already a very strongRay 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.
(27:35):
Congratulations and thank youfor the opportunity of using our
real estate gym platform on aTuesday afternoon to share that
message out there.
So outstanding, tim.
One final thing You've got themost.
I mean the Ray White Group isthe largest group in Australia,
in Australasia, australia andNew Zealand.
(27:56):
You've got the data set that noone can match.
What are you seeing, just formy gym members to see and also
the wider community that'swatching it on social media?
The forecast for the future.
You know we've got a few layersof elections, holidays, easter
we've got a lot of things goingon.
What's the view of the RayWhite group and I know you
(28:19):
employ multiple economists inyour group what's the view there
of the future?
Tim Snell (28:25):
Well, I reckon the most value I could probably
provide your people today is notwhat you already know.
We already know what'shappening with listings, with
days on market.
We know that the auctions are alittle 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 interestingthing is our biggest lead
indicator at Ray White.
And when I say lead indicator,listings are already listed,
(28:49):
solds, already sold, like thatstuff's already done.
You can make incrementalchanges to those things but
frankly, that's a reflection ofthe work that was done six to
eight weeks ago, which is ourappraisal numbers.
And so we watch our appraisalnumbers really religiously
because it is a absoluteforesight into the future.
And what's interesting is thisOur appraisal volume has dropped
(29:12):
off a cliff, like not a shortlittle decay, like a sharp
decline.
And there's a reason for thatPeople are needing more energy
to sell stock, so they'reputting more energy into the
sales.
They're having to keep salestogether and spend a little bit
more energy there.
Listings are slowly listingvolumes are slowly starting to
creep up if we're not able toclear them.
(29:32):
So we're seeing a gap startingto grow between those that can
clear stock and those that can't, because some are getting
frustrated with overpricedvendors that have already priced
in maybe the next six to 12 to24 months worth of value.
That perhaps hasn't beenreflected by buyers yet.
But like night comes to day,what we're currently seeing in
(29:54):
the volume of appraisals beingconducted is that we're going to
be heading into a very lightlisting month coming into the
future and maybe that's not aproblem if you've got heaps of
stock that you can't sell.
But naturally that's going tobecome a stock shortage, heading
into the sort of cooler monthsif something doesn't change
quickly.
So we're really worried aboutthat.
(30:16):
Worried's not the right word,you know, but we're really.
We're talking about that a lotbecause you know, if we saw a
small decay, naturally we'd headinto winter months and that's
normal.
But we just know that we needconsistency, we need stock in
and stock out and as soon as ourguys 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 actuallydon't have enough to sell.
(30:38):
So I think there's plenty ofopportunities.
Clearance isn't 80%, but we'respoiled in New South Wales.
If things aren't 80%, we thinkthe market's bad, the market's
balanced.
You can do a deal.
It's a little bit harder butfrankly, buyers are buying and
sellers are selling.
If you can do a, can do goodstock management process, but
our best businesses are stillfocusing on keeping consistency
(31:01):
in pipeline, because we knowthat some businesses aren't and
those businesses are going toend up with a cold winter.
Tom Panos (31:07):
Well, that's a very, very I mean.
I'm not happy hearing theobservation because I myself
also know when I'm dealing withagents at a micro level, not a
macro level.
All I know is if you've got agood listing month, in March's
going to be a significant dropin gci commissions in real
(31:33):
estate across the country.
The only thing is tim is ifthere's an election result that
favors property more, right, I'mnot 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 ofpeople that decide that's it,
(31:54):
we're going to put it on themarket centre.
It is good, but they're goingto have to do it pretty much
soon in May, because you knowwhat June and July look like,
don't they?
Tim Snell (32:04):
Well, like, here's what we know.
Right, here's what we know isthat the Sydney marketplace is
the most volatile, and that's areally positive thing, I think,
because we're always the firstto be hit negatively when you
know interest rates go up orthere's uncertainty.
You know, you take a look atwhat's happening in the stock
(32:24):
market in terms of uncertaintyaround global tariffs and all
that kind of stuff, and Sydneyand New South Wales are usually
the most impacted by that and Idon't really know the reason why
, but we just are.
But the really positive thingto that is that we're also the
first to bounce, we're alwaysthe first to respond, and if you
recall the last time propertywas such a hot topic of the
(32:48):
election, I would say I mean,it's hot every year, but it's
not so much the last electionbut the one before.
If you've been around longenough to remember that, you'll
remember in the weeks leading upto that auction like if you
were lucky to even have thevendor at your auction, let
alone a buyer and literally theweek after the election, liberal
got in.
(33:08):
When we didn't anticipate, likeeveryone thought that Labor was
getting in, liberal got in andlike all that talk about
negative gearing and all thatwhich seems to pop up every
election that got squashed.
The market just spiked.
And you know, every time themarket spikes, it's the
businesses that have, that aregeared for capacity, that have
actually done the work, done thelegwork, are talking to
(33:29):
prospective vendors where no oneelse is.
They're the ones that win, andthat's kind of the point.
We know that people arespending less energy talking to
prospective vendors.
And, to your point, we don'tknow if the market's going to
spike after the election in fourweeks, but we do know that, if
it does spike, the people thatare speaking to the prospective
vendors, the people that arekeeping them updated, are
(33:49):
talking about the facts talkingabout the facts, talking about
the data, they're the onesgetting the phone calls when the
confidence comes in.
Tom Panos (34:00):
Yeah well, it sounds like, and you know Tim well
enough.
Now, if you're a seller, by thesounds of it, you're probably
going to be better off coming onin May, even June, than in
September, October, isn't it?
Tim Snell (34:11):
Well, look, we were at Macquarie Bank yesterday and
we got to hear a lot of theirforecasts as well, which is
always interesting.
But most economists are sayingthe same thing.
Most economists are suggestingthat no one was surprised with
today's result.
Most economists are pricinginto the marketplace probably
two more rate drops this year Iwould love to say three, but
(34:33):
it's pretty low that three.
But every economist agrees that2026 is going to be pretty
positive for pricing, you know,barring some kind of global
uncertainty.
But you know, all things stayin the way they are.
Interest rates drop a few moretimes over the course of this
year.
2026 is geared to be good forpricing in New South Wales,
according to more projections.
(34:54):
That being said, when was thelast time a projection was
correct?
I don't know.
But that all being the case,you're 100% right.
Once confidence comes into themarketplace, sellers come in
quickly.
So you know you're better offto get involved before they
flood for certain.
Tom Panos (35:11):
All right.
Thank you, Tim, Peter and Shiv.
Congratulations, Welcome to RayWhite United Group.
Peter, congratulations on yoursixth venture.
Shiv, congratulations onmarrying a fantastic business
partner, because that's what itis.
It's there.
(35:32):
An absolute pleasure to see youall, and thank you to all our
listeners coming in.
You've heard it.
I've got to tell you make haywhile the sun's there.
Right now.
There is deals being done.
Maximise it.
We know that April we've gotAnzac Day, Easter, school
holidays, election campaigns.
(35:53):
Anyway, Tim, thank you so much.
Thank you to all.
Thank you, thank you, thank you.
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