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

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

Episode Transcript

Speaker 1 (00:00):
Today I had 11 auctions and out of the 11
auctions, six have sold.
I've got to tell you, it'spatchy, it's fascinating, it's
really interesting.
I've got to say to you that forme, even though we've had rates
that have come down andhistorically, rates going down

(00:20):
means that buyers should befeeling more bullish However,
when I speak to the real estateagents across the various
markets, generally speaking,they're telling me this
marketplace is not any strongersince rates have gone up.
They're saying to me that, hey,listen, some of the prices that

(00:41):
we were getting three coremonths ago, look, were probably
a touch better.
But I'm generalizing here.
Hey, michael, and Michael has aphoto one of the great real
estate agents in Brisbane, soproud of what that guy's done
from place.
I have to say to you, thealgorithm in real estate is

(01:02):
normally rates go down, pricesgo up.
However, I believe that there'seven a more accurate algorithm
in real estate, and that is whenthere's a lot of stock on the
market, prices don't go up.
When there's no stock on themarket, prices go up.
It's a demand and supplyalgorithm versus an interest

(01:24):
rate algorithm.
Good to see you as well, tass.
However, the one thing I want tospeak about right now is to
real estate agents who continueto forget that the last election
was won and was campaigned onpurely real estate.

(01:45):
And I'll tell you why.
Because if you're a tenant,real estate matters.
If you're looking to buy realestate matters.
If you're a vendor, you've beenpaying off a mortgage.
Real estate matters.
Cost of living is what the bigelection decider was based on,

(02:13):
yet our real estate industrycontinue to just throw it in
people's faces.
The biggest issue that we havein our industry is cost of
living.
That is what people care aboutin Australia.
Yet I've got to tell you, theselow IQ estate agents continue

(02:40):
to decide to tell people howwell they're personally going in
a country that is in pain andsuffering generally because of
prices and the cost of ownershipand also renting.
So the golden opportunity isthere for the real estate agent

(03:05):
who decides that I'm not goingto start participating in that
stupid game.
And let's be honest, real estatesocial media has become an
ecosystem where real estateagents communicate to each other
.
I mean, like I have to say toyou go look at the followers of

(03:26):
the real estate agents on socialmedia.
You'll notice their other realestate agents are their
followers.
Team, grow up, wake up and youknow what.
Posting off.
You know my GCI right this thatthis Mate listen, if you're so

(03:46):
cool, why don't you post yourP&L, mr Smarty Pants or Mrs
Smarty Pants?
Anyway, what's the point?
Just show some damn empathy inan economy where people are
hurting due to real estate.
Yet we have the same people whoare supposed to be the
ambassadors of the marketplacejust laughing at the punters.