April 5, 2025 • 9 mins
00:00 – How the Election affects auction day
01:34 – Supply & demand
03:56 – My Clearance Rate: 7/11
05:07 – I’m concerned that appraisal numbers are this low
06:16 – West Tigers will beat the Brisbane Broncos
06:51 – Elon Musk has learnt his lesson
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
And whilst we're talking about the federal
election, during the week I hadone, two, three auctions sorry,
four auctions where the vendorsturned around and said we want
to cancel our auction, that'sthe day of the election.
We don't want to risk it.
Can we make it the followingweek?
Listen, it takes five minutesto vote.
(00:26):
Right, it takes five minutes tovote on a Saturday.
It's not going to affect yourauction result if you actually
move it to the day after, right?
Look, easter, I'd say, isdifferent.
(00:48):
Long weekend people might hitByron Bay Blues Festival, if
that's on, I'm not sure, right,people go away.
But on election day they getinto their cars, they put their
Birkenstocks on, they put a pairof shorts on, they go, tick a
(01:09):
box and then that takes five,ten minutes.
Right, they can still be at anauction, right?
But anyway, we've moved thoseauctions.
And I'll tell you why we'vemoved those auctions because I
like to close the door ofexcuses.
Because if a home doesn't sellbecause the vendor is not
meeting market value, I don'twant the vendor to turn around
and say oh, it's not our price,it's because we auctioned on
(01:29):
election day.
Close the door of excuses,don't argue with your vendors,
but I've got to tell you, ifyou're a buyer out there, you've
just got to look at basiceconomics, right.
The basic economics is that thecurrent Labor government is way
behind their actuals versustargets for building homes.
(01:50):
I've actually got a few noteshere.
So between 2004 and 2009, thereis a goal to do 1.2 million new
dwellings.
But when you actually breakthat down into per quarter, if
(02:13):
Australia continues at itscurrent run rate by 2029, we
will be short 500,000 houses.
So we've already got a shortageright.
We got a shortage already.
That's why we've got thishousing issue, both in rentals
and sales.
But what I'm saying is, withthe migration that's going in,
(02:39):
the government said oh, we canhandle that, we're going to
build 1.2 million new homes.
Well, guess what?
They're not.
They're nowhere near achievingtheir quarterly targets.
And, quite frankly, if you hadto score like so, I worked for
Rupert Murdoch for close to 20years.
(02:59):
I'm still contracted to NewsCorp A lot of people didn't know
that and I was one of the fewpeople that used to actually
present to Rupert Murdoch.
The CEO did, and I was one of afew others that used to present
to Rupert Murdoch and I cantell you if I sat down in front
of Rupert Murdoch and said tohim our target is this and our
(03:21):
actual is this.
He would say well, give me theplan on how you're going to make
the gap.
But you know what, in politicsthere's no accountability.
And I'll tell you why.
Because in 2029, when we'regoing to look at the result of
target versus actuals, elbowwon't be there, done probably
(03:44):
won't be there anyway either.
So the real issue you've got toturn around and say is why do
governments fail?
Because ultimately, they're notaccountable.
That's why, so far, we have asuccess rate of 7 out of 11
today.
7 out of 11 today Not a badresult.
(04:07):
But I have to tell you, aroundAustralia I have lots of real
estate agents that are tellingme that they need training to
narrow the gap between buyer andseller, which says to me,
things aren't great all round atthe moment and real estate
(04:28):
agents are needing to priceproperly, work by as well and
make sure that they're 10 out of10 in their vendor education,
their 10 out of 10 in theirvendor education.
I've got to say to you, ladiesand gentlemen, I'm also a little
bit concerned because it's beenconfirmed to me by two very
(04:49):
large companies that have gotaccess to appraisals and it was
also confirmed to me by who wasit?
Tim Snell from Ray White headoffice and they've got a really
good helicopter view about realestate as well because of their
size across Australia.
And it's concerning thatappraisal numbers are low and
(05:12):
appraisal numbers are a leadingindicator to listings, and
appraisal numbers are very lowNow.
Are they low because no onewants to get an appraisal during
this election period?
Or are they low because peopleare not having confidence to put
their properties on the market?
But what we clearly know isthat high appraisals equals high
(05:32):
listing numbers coming throughthe following months.
Low appraisals equals lowlisting numbers coming through.
Now I've got to say to you,history shows that after a
federal election, there'snormally an onslaught of
properties that do come onto themarket.
I'm not 100% certain that'sgoing to happen, because our
federal election is leading intothe winter period, which,
(05:53):
generally speaking, is not aperiod where there's an
abundance of of listings goingon.
So all I've got to say to youis watch.
This space Market is all overthe place and it has been for a
while.
Where one thing goes off,another doesn't go off, but at
(06:13):
you know, seven out of 11, andI've been told my last one's
most likely going to sell.
And I can tell you, I told Theofrom Breakfast Point Realty this
morning when I was doing a run.
He was walking around with hismates Stapleton, one of the
Tigers chiefs there.
I told him.
I said to him Parramatta isgoing to win by a couple and
(06:34):
they won by one.
And I'm telling you, you'rehearing it right here, right now
West Tigers will beat BrisbaneBroncos at Suncorp tonight.
Mark that down.
Now I've got to say to you keepyour eyes on the prize and stay
in your swim lane.
Even Elon Musk hey, you want totell you something about Teslas
and Elon Musk.
(06:55):
So I used to.
Before I've had a Tesla, I'vegot a Tesla X and I've had one
for like eight years.
Right before I've had a Tesla,I've got a Tesla X and I've had
one for like eight years.
Right, I've had Tesla eightyears and I still remember the
day that I parked my Tesla.
So the main area that I've beenauctioneering over the last 30
years has been Newtown,chippendale, darlington, that
(07:15):
inner city area, and it's a veryyou know it's, I would say it's
a very you know it's, I wouldsay it's.
Politically, it's on the leftand a very strong strong.
They drift towards the GreenParty, put it that way.
So when I moved from having aPorsche to a Tesla, I've got to
(07:36):
tell you that community atNewtown man like I'll give you
an idea You'd park your car andif you parked it sort of like
one or two, three centimetres ora little bit over towards the
driveway, because the streetsare very narrow in Newtown
people would see this Porschethere.
(07:57):
They'd come out, ah, move it,move it, move it.
When I got the Tesla, when Igot the Tesla, I've got to tell
you parents would come out withtheir little kids in Newtown hey
, can I put the little one inthe Tesla?
They'd love to get in the car.
They loved it, loved it.
But guess what?
It's the same people that haveturned on Elon Musk and Tesla.
(08:21):
Now it's that same demographicthat's turned on them.
It is the environmentalfriendly, green left side of
politics.
The irony of it all is Elon Musk, though he is the boss of Tesla
.
He owns about 13% of Tesla.
So when they're smashing Tesla,they're smashing a lot of other
(08:44):
people before Elon.
But I hope Elon's learned alesson as well.
Elon's learned a lesson in thelast few months and that is,
make the main thing.
The main thing and what's themain thing your business, your
family.
When you get sidetracked andyou get distracted and you do
other things, something's goingto cop it and that's what we've
(09:07):
seen happen in the USA.
But he's done the intelligentdecision to go back and focus on
his business, signing off.
And whilst we're talking about the federal
election, during the week I hadone, two, three auctions sorry,
four auctions where the vendorsturned around and said we want
to cancel our auction, that'sthe day of the election.
We don't want to risk it.
Can we make it the followingweek?
Listen, it takes five minutesto vote.
(00:26):
Right, it takes five minutes tovote on a Saturday.
It's not going to affect yourauction result if you actually
move it to the day after, right?
Look, easter, I'd say, isdifferent.
(00:48):
Long weekend people might hitByron Bay Blues Festival, if
that's on, I'm not sure, right,people go away.
But on election day they getinto their cars, they put their
Birkenstocks on, they put a pairof shorts on, they go, tick a
(01:09):
box and then that takes five,ten minutes.
Right, they can still be at anauction, right?
But anyway, we've moved thoseauctions.
And I'll tell you why we'vemoved those auctions because I
like to close the door ofexcuses.
Because if a home doesn't sellbecause the vendor is not
meeting market value, I don'twant the vendor to turn around
and say oh, it's not our price,it's because we auctioned on
(01:29):
election day.
Close the door of excuses,don't argue with your vendors,
but I've got to tell you, ifyou're a buyer out there, you've
just got to look at basiceconomics, right.
The basic economics is that thecurrent Labor government is way
behind their actuals versustargets for building homes.
(01:50):
I've actually got a few noteshere.
So between 2004 and 2009, thereis a goal to do 1.2 million new
dwellings.
But when you actually breakthat down into per quarter, if
(02:13):
Australia continues at itscurrent run rate by 2029, we
will be short 500,000 houses.
So we've already got a shortageright.
We got a shortage already.
That's why we've got thishousing issue, both in rentals
and sales.
But what I'm saying is, withthe migration that's going in,
(02:39):
the government said oh, we canhandle that, we're going to
build 1.2 million new homes.
Well, guess what?
They're not.
They're nowhere near achievingtheir quarterly targets.
And, quite frankly, if you hadto score like so, I worked for
Rupert Murdoch for close to 20years.
(02:59):
I'm still contracted to NewsCorp A lot of people didn't know
that and I was one of the fewpeople that used to actually
present to Rupert Murdoch.
The CEO did, and I was one of afew others that used to present
to Rupert Murdoch and I cantell you if I sat down in front
of Rupert Murdoch and said tohim our target is this and our
(03:21):
actual is this.
He would say well, give me theplan on how you're going to make
the gap.
But you know what, in politicsthere's no accountability.
And I'll tell you why.
Because in 2029, when we'regoing to look at the result of
target versus actuals, elbowwon't be there, done probably
(03:44):
won't be there anyway either.
So the real issue you've got toturn around and say is why do
governments fail?
Because ultimately, they're notaccountable.
That's why, so far, we have asuccess rate of 7 out of 11
today.
7 out of 11 today Not a badresult.
(04:07):
But I have to tell you, aroundAustralia I have lots of real
estate agents that are tellingme that they need training to
narrow the gap between buyer andseller, which says to me,
things aren't great all round atthe moment and real estate
(04:28):
agents are needing to priceproperly, work by as well and
make sure that they're 10 out of10 in their vendor education,
their 10 out of 10 in theirvendor education.
I've got to say to you, ladiesand gentlemen, I'm also a little
bit concerned because it's beenconfirmed to me by two very
(04:49):
large companies that have gotaccess to appraisals and it was
also confirmed to me by who wasit?
Tim Snell from Ray White headoffice and they've got a really
good helicopter view about realestate as well because of their
size across Australia.
And it's concerning thatappraisal numbers are low and
(05:12):
appraisal numbers are a leadingindicator to listings, and
appraisal numbers are very lowNow.
Are they low because no onewants to get an appraisal during
this election period?
Or are they low because peopleare not having confidence to put
their properties on the market?
But what we clearly know isthat high appraisals equals high
(05:32):
listing numbers coming throughthe following months.
Low appraisals equals lowlisting numbers coming through.
Now I've got to say to you,history shows that after a
federal election, there'snormally an onslaught of
properties that do come onto themarket.
I'm not 100% certain that'sgoing to happen, because our
federal election is leading intothe winter period, which,
(05:53):
generally speaking, is not aperiod where there's an
abundance of of listings goingon.
So all I've got to say to youis watch.
This space Market is all overthe place and it has been for a
while.
Where one thing goes off,another doesn't go off, but at
(06:13):
you know, seven out of 11, andI've been told my last one's
most likely going to sell.
And I can tell you, I told Theofrom Breakfast Point Realty this
morning when I was doing a run.
He was walking around with hismates Stapleton, one of the
Tigers chiefs there.
I told him.
I said to him Parramatta isgoing to win by a couple and
(06:34):
they won by one.
And I'm telling you, you'rehearing it right here, right now
West Tigers will beat BrisbaneBroncos at Suncorp tonight.
Mark that down.
Now I've got to say to you keepyour eyes on the prize and stay
in your swim lane.
Even Elon Musk hey, you want totell you something about Teslas
and Elon Musk.
(06:55):
So I used to.
Before I've had a Tesla, I'vegot a Tesla X and I've had one
for like eight years.
Right before I've had a Tesla,I've got a Tesla X and I've had
one for like eight years.
Right, I've had Tesla eightyears and I still remember the
day that I parked my Tesla.
So the main area that I've beenauctioneering over the last 30
years has been Newtown,chippendale, darlington, that
(07:15):
inner city area, and it's a veryyou know it's, I would say it's
a very you know it's, I wouldsay it's.
Politically, it's on the leftand a very strong strong.
They drift towards the GreenParty, put it that way.
So when I moved from having aPorsche to a Tesla, I've got to
(07:36):
tell you that community atNewtown man like I'll give you
an idea You'd park your car andif you parked it sort of like
one or two, three centimetres ora little bit over towards the
driveway, because the streetsare very narrow in Newtown
people would see this Porschethere.
(07:57):
They'd come out, ah, move it,move it, move it.
When I got the Tesla, when Igot the Tesla, I've got to tell
you parents would come out withtheir little kids in Newtown hey
, can I put the little one inthe Tesla?
They'd love to get in the car.
They loved it, loved it.
But guess what?
It's the same people that haveturned on Elon Musk and Tesla.
(08:21):
Now it's that same demographicthat's turned on them.
It is the environmentalfriendly, green left side of
politics.
The irony of it all is Elon Musk, though he is the boss of Tesla
.
He owns about 13% of Tesla.
So when they're smashing Tesla,they're smashing a lot of other
(08:44):
people before Elon.
But I hope Elon's learned alesson as well.
Elon's learned a lesson in thelast few months and that is,
make the main thing.
The main thing and what's themain thing your business, your
family.
When you get sidetracked andyou get distracted and you do
other things, something's goingto cop it and that's what we've
(09:07):
seen happen in the USA.
But he's done the intelligentdecision to go back and focus on
his business, signing off.
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