September 13, 2025 • 9 mins
00:08 - Market Predictions
04:08 - Agent Red Flags
My Clearance Rate: 7/7 SOLD
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
People pay you a fee, but it's value that they get
back.
You want to improve your fee,improve your value.
I have never seen a real estatemarket like this, at least
since 2021, 22, during the COVIDyears, when there was very
little stock on the market andthe place was booming.
As you all know, we hadprobably the biggest boom in
(00:22):
real estate since 1988 duringthe COVID period, so much that
the media had got it wrongThey'd had front page stories in
the media was prices were goingto drop by 35%.
They actually probably did theopposite.
So I've got to tell you theseresults are hot.
And why are they hot?
Let's go through why they'rehot.
They're hot number one becausepeople think prices are going to
(00:46):
go up.
Well, I've got news for youThey've gone up.
They've gone up.
When you're in Newtown andyou're seeing houses sell, hey,
luke, when you're seeing housessell for two, 300 grand more
every week and that's in theinner city, that's telling me
that it's going out to thesuburbs.
(01:08):
This market's hot.
We all know that Perth andAdelaide have been hot
regardless, and we know thatBrisbane's pretty hot.
Now we're beginning to seeSydney's hot and I can tell you,
whilst Melbourne has still gotthe hangover from those property
taxes.
And, dan, I've got to tell youmy clients are telling me that
(01:30):
even they're getting swallowedup now.
And I've got to tell you it'sonly going to get worse for
buyers.
I'll tell you why On October 1,there's going to be
significantly more buyers in thelower price points around the
country With a 5% depositguarantee scheme.
I've got to tell you there ispeople lining up.
(01:50):
There are people within my ownfamily who are now thinking
about property because they justthought to themselves we'll
never get to a 20% deposit.
Now they're thinking, hey, 5%deposit on a $700,000 property,
hey, that's doable.
The Perth market is hot.
The Perth market is hot.
The Perth market I'm answeringa question here.
(02:10):
The Perth market stock levelshave gone down to unprecedented
levels.
It is an absolute seller'smarket.
So I'm getting a lot of.
By the way, auctions scheduledfor September the 27th are
having the vendors contact theiragents asking them to delay
their auctions till October withthe view that they'll get more
(02:35):
buyers, because buyers can'tqualify to do the 5% deposit
till October 1.
So if you're auctioning onSeptember 27, you don't get
those buyers.
So here's my advice If you're avendor at the moment.
Who's watching this and istrying to work out whether I
should delay my auction.
The answer is most likely no,but for some of you the answer
(02:56):
is yes.
For those of you that know is ifyour price point is higher than
the threshold set by thegovernment where they'll give
you the 5% deposit scheme.
Example in Sydney it's $1.5million.
In Brisbane, I think it's a mil.
In Melbourne, I think it'saround a mil or $9.50.
(03:18):
So all I've got to say to youis if you're not in that price
point, it's irrelevant.
But if you are in that pricepoint, it's irrelevant.
But if you are in that pricepoint and let's assume you've
got zero buyers at the momentyou might want to look at doing
that right.
But you also need to know ifyou delayed your auction by a
(03:39):
week and you're in New SouthWales and I know New South Wales
has got a long weekend therelike you're going to delay it
for a long weekend, which isgrand final weekend as well, but
if you're delaying it for aweek, it's neither here nor
there.
Do you honestly think a buyeris going to see their property
on October 1st?
Then go off, get the lawyer tolook at the contract, get a loan
(04:00):
approved and buy it on October3rd.
It doesn't work that way, so Iwouldn't be too concerned about
it.
So a couple of other things Iwant to touch on.
And that is when I was inAdelaide this week.
I just couldn't believe it whena client of mine showed me what
other agents are actuallycharging in Adelaide and I just
(04:22):
was gobsmacked.
I mean, I would have thoughtAdelaide, which you know,
typically in Adelaide there's alot of real estate that sells
there under a million dollars,right, even though prices have
gone up.
Adelaide is not a high pricepoint when you look at the rest
of Australia.
But to doing it 0.7%, and all Ican figure is that real estate
(04:42):
agents in South Australia andthere's some really good trained
agents there.
However, all I can think of isthat they just weren't skilled
in working in a marketplace thathad a shortage of stock For the
first time.
Prices were booming, agentswould do anything to get a
listing and obviously droppingtheir fees was one of the
(05:03):
strategies to getting thelistings and they just had never
been trained up to understandhow to actually sell your fee.
I mean, I've never, really ever.
I was in real estate for a verylong time.
So I've been in the world of feenegotiation and I can tell you,
(05:23):
whenever I was asked about feenegotiation, I used to remind
people that if another agentthat they'd spoken to had
dropped their fee after theagent asked them to, that was a
red flag.
That was the first of the redflags.
I mean here we had a realestate agent who was prepared to
actually drop sometimes 25% oftheir fee.
(05:46):
If that's not a red flag aboutwhat they're going to do to the
price of the vendor's house, Idon't know what is.
That's the first thing.
The second thing I used to talkabout in fee negotiation is this
People pay you a fee, but it'svalue that they get back.
I'm going to say that again.
Warren Buffett actually says itbest People pay you a fee, but
(06:10):
it's value that they get back.
You want to improve your fee,improve your value, move away
from being a commodity and startbeing a value-added provider.
Show more, do more, give more,quite.
Simply, 1% more expensive but5% better than another agent
means your client is still 4%better off going with you.
(06:31):
And I've got to tell you, I seea lot of real estate agents that
are very poorly trained.
And the ones that are poorlytrained often are the lowest fee
agents, and you know what I seeit all the time they sell
properties at lower figures thanwhat a good agent could have
sold them at.
That's a fact, and I've got tosay to you that I am so excited
(06:53):
because today I finished early.
And I finished early because Iwas going to go to Manila
tonight, but I'm going to gotomorrow morning for the Wingman
Conference.
I'm an ambassador of Wingmanand a speaker at their
conference.
I'm going to Manila and I'malso going to be seeing my
beautiful virtual assistant,who's been with us for well over
a year now.
Princess, I get to see her.
(07:14):
In addition to that, I've alsogot to let you know 23rd and the
24th, byron Bay.
Here we come, my second home.
I'm having one of my firstevents there, called Thrive.
It's sold out.
23rd and the 24th of SeptemberAn opportunity to look at the
whales, swim in beautiful water,learn a lot about AI and
(07:36):
effective business units, sitwith a group of 78 people who
have got one common goal have anELF life and business
effortless, lucrative and fun.
Don't worry for those of youthat aren't coming.
I am going to hold anotherevent in Byron in probably the
(07:58):
first quarter of 2026.
In addition to that team, I'vegot to say to you it is our
state of origin season in realestate.
It's red hot.
I won't be doing a lot ofauctions over the next month or
so but because I've got a lot ofoverseas work conferences in
London, bulgaria, greece, newZealand and I've got the block
(08:22):
and I want to just confirm, Iwent and saw the block in
Melbourne on Thursday night,caught up with Robbie.
I'm representing Robbie andMatt, house number five.
I was always doing their houseIf I was going to do the block.
Obviously, you all know I wasunwell and I got rid of a lot of
my commitments when I was goingthrough cancer treatment, but
(08:45):
that has now resolved and we'reback in business.
Baby, the 25th of October.
All eyes are on house numberfive, the one with the
pickleball court.
Ladies and gentlemen, that'sthe end.
The sun's out.
You know what I'm going to do.
I'm going to go for my secondrun of the day.
I'm doing the Bay Run.
People pay you a fee, but it's value that they get
back.
You want to improve your fee,improve your value.
I have never seen a real estatemarket like this, at least
since 2021, 22, during the COVIDyears, when there was very
little stock on the market andthe place was booming.
As you all know, we hadprobably the biggest boom in
(00:22):
real estate since 1988 duringthe COVID period, so much that
the media had got it wrongThey'd had front page stories in
the media was prices were goingto drop by 35%.
They actually probably did theopposite.
So I've got to tell you theseresults are hot.
And why are they hot?
Let's go through why they'rehot.
They're hot number one becausepeople think prices are going to
(00:46):
go up.
Well, I've got news for youThey've gone up.
They've gone up.
When you're in Newtown andyou're seeing houses sell, hey,
luke, when you're seeing housessell for two, 300 grand more
every week and that's in theinner city, that's telling me
that it's going out to thesuburbs.
(01:08):
This market's hot.
We all know that Perth andAdelaide have been hot
regardless, and we know thatBrisbane's pretty hot.
Now we're beginning to seeSydney's hot and I can tell you,
whilst Melbourne has still gotthe hangover from those property
taxes.
And, dan, I've got to tell youmy clients are telling me that
(01:30):
even they're getting swallowedup now.
And I've got to tell you it'sonly going to get worse for
buyers.
I'll tell you why On October 1,there's going to be
significantly more buyers in thelower price points around the
country With a 5% depositguarantee scheme.
I've got to tell you there ispeople lining up.
(01:50):
There are people within my ownfamily who are now thinking
about property because they justthought to themselves we'll
never get to a 20% deposit.
Now they're thinking, hey, 5%deposit on a $700,000 property,
hey, that's doable.
The Perth market is hot.
The Perth market is hot.
The Perth market I'm answeringa question here.
(02:10):
The Perth market stock levelshave gone down to unprecedented
levels.
It is an absolute seller'smarket.
So I'm getting a lot of.
By the way, auctions scheduledfor September the 27th are
having the vendors contact theiragents asking them to delay
their auctions till October withthe view that they'll get more
(02:35):
buyers, because buyers can'tqualify to do the 5% deposit
till October 1.
So if you're auctioning onSeptember 27, you don't get
those buyers.
So here's my advice If you're avendor at the moment.
Who's watching this and istrying to work out whether I
should delay my auction.
The answer is most likely no,but for some of you the answer
(02:56):
is yes.
For those of you that know is ifyour price point is higher than
the threshold set by thegovernment where they'll give
you the 5% deposit scheme.
Example in Sydney it's $1.5million.
In Brisbane, I think it's a mil.
In Melbourne, I think it'saround a mil or $9.50.
(03:18):
So all I've got to say to youis if you're not in that price
point, it's irrelevant.
But if you are in that pricepoint, it's irrelevant.
But if you are in that pricepoint and let's assume you've
got zero buyers at the momentyou might want to look at doing
that right.
But you also need to know ifyou delayed your auction by a
(03:39):
week and you're in New SouthWales and I know New South Wales
has got a long weekend therelike you're going to delay it
for a long weekend, which isgrand final weekend as well, but
if you're delaying it for aweek, it's neither here nor
there.
Do you honestly think a buyeris going to see their property
on October 1st?
Then go off, get the lawyer tolook at the contract, get a loan
(04:00):
approved and buy it on October3rd.
It doesn't work that way, so Iwouldn't be too concerned about
it.
So a couple of other things Iwant to touch on.
And that is when I was inAdelaide this week.
I just couldn't believe it whena client of mine showed me what
other agents are actuallycharging in Adelaide and I just
(04:22):
was gobsmacked.
I mean, I would have thoughtAdelaide, which you know,
typically in Adelaide there's alot of real estate that sells
there under a million dollars,right, even though prices have
gone up.
Adelaide is not a high pricepoint when you look at the rest
of Australia.
But to doing it 0.7%, and all Ican figure is that real estate
(04:42):
agents in South Australia andthere's some really good trained
agents there.
However, all I can think of isthat they just weren't skilled
in working in a marketplace thathad a shortage of stock For the
first time.
Prices were booming, agentswould do anything to get a
listing and obviously droppingtheir fees was one of the
(05:03):
strategies to getting thelistings and they just had never
been trained up to understandhow to actually sell your fee.
I mean, I've never, really ever.
I was in real estate for a verylong time.
So I've been in the world of feenegotiation and I can tell you,
(05:23):
whenever I was asked about feenegotiation, I used to remind
people that if another agentthat they'd spoken to had
dropped their fee after theagent asked them to, that was a
red flag.
That was the first of the redflags.
I mean here we had a realestate agent who was prepared to
actually drop sometimes 25% oftheir fee.
(05:46):
If that's not a red flag aboutwhat they're going to do to the
price of the vendor's house, Idon't know what is.
That's the first thing.
The second thing I used to talkabout in fee negotiation is this
People pay you a fee, but it'svalue that they get back.
I'm going to say that again.
Warren Buffett actually says itbest People pay you a fee, but
(06:10):
it's value that they get back.
You want to improve your fee,improve your value, move away
from being a commodity and startbeing a value-added provider.
Show more, do more, give more,quite.
Simply, 1% more expensive but5% better than another agent
means your client is still 4%better off going with you.
(06:31):
And I've got to tell you, I seea lot of real estate agents that
are very poorly trained.
And the ones that are poorlytrained often are the lowest fee
agents, and you know what I seeit all the time they sell
properties at lower figures thanwhat a good agent could have
sold them at.
That's a fact, and I've got tosay to you that I am so excited
(06:53):
because today I finished early.
And I finished early because Iwas going to go to Manila
tonight, but I'm going to gotomorrow morning for the Wingman
Conference.
I'm an ambassador of Wingmanand a speaker at their
conference.
I'm going to Manila and I'malso going to be seeing my
beautiful virtual assistant,who's been with us for well over
a year now.
Princess, I get to see her.
(07:14):
In addition to that, I've alsogot to let you know 23rd and the
24th, byron Bay.
Here we come, my second home.
I'm having one of my firstevents there, called Thrive.
It's sold out.
23rd and the 24th of SeptemberAn opportunity to look at the
whales, swim in beautiful water,learn a lot about AI and
(07:36):
effective business units, sitwith a group of 78 people who
have got one common goal have anELF life and business
effortless, lucrative and fun.
Don't worry for those of youthat aren't coming.
I am going to hold anotherevent in Byron in probably the
(07:58):
first quarter of 2026.
In addition to that team, I'vegot to say to you it is our
state of origin season in realestate.
It's red hot.
I won't be doing a lot ofauctions over the next month or
so but because I've got a lot ofoverseas work conferences in
London, bulgaria, greece, newZealand and I've got the block
(08:22):
and I want to just confirm, Iwent and saw the block in
Melbourne on Thursday night,caught up with Robbie.
I'm representing Robbie andMatt, house number five.
I was always doing their houseIf I was going to do the block.
Obviously, you all know I wasunwell and I got rid of a lot of
my commitments when I was goingthrough cancer treatment, but
(08:45):
that has now resolved and we'reback in business.
Baby, the 25th of October.
All eyes are on house numberfive, the one with the
pickleball court.
Ladies and gentlemen, that'sthe end.
The sun's out.
You know what I'm going to do.
I'm going to go for my secondrun of the day.
I'm doing the Bay Run.
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