March 29, 2025 • 11 mins
00:00 – How Trump's tariffs affect Australian Real Estate
04:19 – What IS and ISN’T Underquoting. Why “Quote em low & watch em go!” is stupidÂ
06:35 – My Clearance Rate: 9/11 SOLD. The market has been significantly better since the rate cut
07:21 – If I was a first-home buyer, here’s why I would invest in QueenslandÂ
09:16 – Kamala Harris & Steven Bartlett are speaking at AREC (Conference). My Real Estate Gym members get the best-value tickets!Â
10:12 – 4 out of the 9 properties I auctioned today came from LocalAgentFinder*
*I am a brand ambassador for LocalAgentFinder
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
So I just want you to picture what a tariff what
Donald Trump has done right andI know that most of you should
understand this right, but I'mjust going to spell it out in a
nice easy way what Donald Trumphas done is saying that if
someone goes and buys a car, say, from China, but they're in
(00:25):
America, and let's assume thecar is $100,000.
When they put a tariff of 25%,that car now is $125,000.
So the buyer of that car,instead of paying $100,000, pays
(00:45):
$125,000.
So on first impression, firstglance, the person that loses is
the person that lives inAmerica that buys that car.
However, tariffs are actuallyused in a way to discourage
people to buy that car, becausethey'll say, while you buy that
(01:08):
car for $125,000, when you canbuy this car that's been built
in America for $120,000.
And you see, if they didn't putthat tariff, that Chinese car
would be cheaper.
Tariff, that Chinese car wouldbe cheaper.
So why does the governmentactually use tariffs?
Well, number one, to raisemoney for the country.
(01:41):
They're getting 25%.
Number two that money.
Apart from helping the country,there's another thing it does
by bringing a tariff in.
It means that that buyer thatwas going to go buy that car
that was made in China now saysoh no, well, that's more
expensive or the value is notthere when you have the 25%
(02:03):
tariff.
So what I'll do is I'll buy acar from an American
manufacturer.
And when I buy a car from amanufacturer I'll be better off
because I don't have to pay that25%.
So that country then wins outas well, because more jobs are
created, because more peopleneed more of those cars in
America.
And then there's a third reasonwhy governments use tariffs
(02:30):
because they're negotiationtools.
You see, let's assume thatthere's some issue in two years
time and they're negotiating,donald Trump can say well, if
you do that, donald Trump cansay well, if you do that, I'll
(02:51):
reduce the tariff, I'll take itdown from 25% to 10%, or if you
do this, I'll take the tariffoff completely.
So it's used as negotiationpower.
And how do you work out atariff?
Tariffs are worked out in oneof three ways.
One way is that it's apercentage, like 25%.
Another way, it is partpercentage, part flat fee, or it
(03:17):
can be a straight out flat fee.
So there are plenty of waysthat it can be done.
Paul, don't understand what thisgot anything to do about real
estate.
Well, maybe you should hang on.
Maybe you should hang onBecause if you can understand
the macro picture, you'llunderstand that real estate does
(03:37):
not work in isolation.
It works in combination withthe rest of the economy.
Ladies and gentlemen, that'swhat it does.
So I can tell you that I had abuyer, and I'm just going to
answer the question.
I'm outside a property here inYaguna and the guy was going to
make a bit of 2.2, but he toldme that he's lost X amount of
(03:59):
money in the share market in thelast couple of weeks.
And then he you know, obviouslythe share market's been
extremely volatile and the wholeworld has been volatile because
of Trump and his tariffs.
So, to answer your question,whoever asked it, that's why I'm
mentioning it there, ladies andgentlemen, and I can mention it
because I want to.
In addition to that, ladies andgentlemen, let me just also give
(04:23):
an explanation to underquoting,because I think sometimes
people get confused thedifference between what
underquoting is and what a greatresult is.
So if a real estate agent goesto a vendor to list their
property and says to them yourhouse is worth a million dollars
(04:46):
, and then goes out into themarketplace and tells buyers,
you can buy this for $800, cometo the auction.
They come to the auction andthe whole time the owner wanted
(05:06):
a million dollars.
The agent is saying $800,000.
And, hypothetically, let'sassume, on the day he decides to
put in a vendor bid of, say,$960,000, that's black and white
.
That is under-quoting, quotedlow, and some agents use the
(05:28):
term quote them low, watch themgo.
Stupid thing to say, stupidthing to say.
So let me tell you what underquoting is not.
When an agent is being quotinga million dollars on a property
that they told the owner amillion dollars and then at
(05:50):
auction it goes crazy and sellsfor $1.2 million, that is not
underquoting.
That is a property that hassold $200,000 more than the
reserve, $200,000 more than whatthe owner wanted.
It had competition, people gotcarried away and that is not
(06:14):
underquoting.
So what happens in real estate?
Is that underquoting or is itjust competition?
Well, it's a combination ofboth.
There are some properties thatare underquoted, there are some
properties that are quotedcorrectly, except two or three
people get over emotional andthey go for it as great for some
(06:36):
properties and patchy forothers.
But overall I would probablysay a marketplace that is
significantly better since therate cut and I believe that we
(07:02):
have another Reserve Bankmeeting coming up very soon, I
think in the next week or two.
Hey, johnny Caglionotis, goodluck with your team.
The Bulldogs are playing.
I think they're playingtomorrow or they might even be
playing today, but I want to letyou know that I got asked today
(07:24):
by someone if I was a firsthome buyer and I didn't care
about anywhere to invest, wherewould I invest?
And I'll tell you what.
The answer I gave him wasQueensland.
That's where I would go.
A few reasons.
Reason number one no stamp dutyfor first home buyers.
(07:49):
Reason number two as of March.
Reason number two I think thatmarket is going to benefit a lot
out of the Olympic Games.
Reason number three come March3, now that we know that we've
got an election day, on that day, if the coalition were to win
(08:13):
and don't take that me sayingyou should vote for the
coalition, because I don't evenknow who I'm voting for Hi,
johnny, we'll talk about landtax in a moment, but I've got to
say to you, if people getaccess to the superannuation,
that's 50 grand, and then, inaddition to that, if they don't
have to pay stamp duty, brisbanelooks like a beautiful
(08:37):
marketplace to invest in andalso lots of other parts of
Queensland, and I got to hand it.
I got to hand it to thatgovernment.
They're having a go to win thepopularity contest with home
buyers.
Mate, that guy there I don'teven know who the Premier of
Queensland is, but I'm going totell you they're the opposite to
the old Premier of Victoria.
(08:59):
They want people to go there.
What the old Premier, dictatorDan, wanted, he wanted people.
Well, I don't know.
I was about to say he wantedpeople to leave the state.
I think he just wanted peopleto stay inside their houses for
two years.
In addition to that, ladies andgentlemen, I'm going to finish
(09:19):
off here because I want to gowatch Sydney FC play, but I want
to let everyone know,particularly the real estate
fraternity Arik Brocha is comingout.
Arik started posting speakersthere.
Kamala Harris she is live.
She's coming in, and I knowthat there have been a lot of
people that have thought thatshe has been a strange choice.
(09:43):
Have been a lot of people thathave thought that she has been a
strange choice.
Most people are actuallydelighted to have someone in the
actual room of that calibre,but for me, the guy that I'm
really pumped to see is StephenBartlett, that podcaster and
author of the Diary of a CEO.
So that's on the 25th and the26th of May.
(10:05):
Good to see you.
Michael has a photos.
And apart from that, ladies andgentlemen, oh, by the way, I've
got to tell you I had fourproperties today that were leads
that had come from local agentfinder.
I really don't know why morereal estate agents are not
(10:28):
actually using that.
They'll go out.
Today, john, there was, I think, nine out of 11 sold.
Local agent finder has got twothings I love about Number one
they've got a tool called theprospecting tool.
When someone goes onto theirwebsite to actually suss out
(10:49):
real estate agents and doesn'ttake the next step, local
AgentFinder has got a tool thatthey're able to sell you and
they get so many leads in everysuburb every month of those
people.
They won't give you the exactperson, but they'll say it's
amongst these 25 homes andthat's done on a subscription
basis and it's one agent perarea.
(11:10):
Yes, morris, I do see a ratecoming out.
I'm not quite sure if it'sgoing to happen next week, but
so in addition to that, ladiesand gentlemen, I've got to say
oh, I just had a mental blank onwhat I was talking about.
I was talking about local agentfinder.
But I've got to tell you anyreal estate agent that wants to
(11:30):
get more listings, I've got totell you.
Get onto local agent finder.
And the thing that I love abouttheir model is that every
listing that they refer you intheir normal product, you know
you might have to pay 20% Ithink it maxed up to five grand
but 20% of something or sorry,80%, you got to pay 20%.
(11:50):
So you get 80%.
80% of something is better thanyou know 0% of nothing.
So I just want you to picture what a tariff what
Donald Trump has done right andI know that most of you should
understand this right, but I'mjust going to spell it out in a
nice easy way what Donald Trumphas done is saying that if
someone goes and buys a car, say, from China, but they're in
(00:25):
America, and let's assume thecar is $100,000.
When they put a tariff of 25%,that car now is $125,000.
So the buyer of that car,instead of paying $100,000, pays
(00:45):
$125,000.
So on first impression, firstglance, the person that loses is
the person that lives inAmerica that buys that car.
However, tariffs are actuallyused in a way to discourage
people to buy that car, becausethey'll say, while you buy that
(01:08):
car for $125,000, when you canbuy this car that's been built
in America for $120,000.
And you see, if they didn't putthat tariff, that Chinese car
would be cheaper.
Tariff, that Chinese car wouldbe cheaper.
So why does the governmentactually use tariffs?
Well, number one, to raisemoney for the country.
(01:41):
They're getting 25%.
Number two that money.
Apart from helping the country,there's another thing it does
by bringing a tariff in.
It means that that buyer thatwas going to go buy that car
that was made in China now saysoh no, well, that's more
expensive or the value is notthere when you have the 25%
(02:03):
tariff.
So what I'll do is I'll buy acar from an American
manufacturer.
And when I buy a car from amanufacturer I'll be better off
because I don't have to pay that25%.
So that country then wins outas well, because more jobs are
created, because more peopleneed more of those cars in
America.
And then there's a third reasonwhy governments use tariffs
(02:30):
because they're negotiationtools.
You see, let's assume thatthere's some issue in two years
time and they're negotiating,donald Trump can say well, if
you do that, donald Trump cansay well, if you do that, I'll
(02:51):
reduce the tariff, I'll take itdown from 25% to 10%, or if you
do this, I'll take the tariffoff completely.
So it's used as negotiationpower.
And how do you work out atariff?
Tariffs are worked out in oneof three ways.
One way is that it's apercentage, like 25%.
Another way, it is partpercentage, part flat fee, or it
(03:17):
can be a straight out flat fee.
So there are plenty of waysthat it can be done.
Paul, don't understand what thisgot anything to do about real
estate.
Well, maybe you should hang on.
Maybe you should hang onBecause if you can understand
the macro picture, you'llunderstand that real estate does
(03:37):
not work in isolation.
It works in combination withthe rest of the economy.
Ladies and gentlemen, that'swhat it does.
So I can tell you that I had abuyer, and I'm just going to
answer the question.
I'm outside a property here inYaguna and the guy was going to
make a bit of 2.2, but he toldme that he's lost X amount of
(03:59):
money in the share market in thelast couple of weeks.
And then he you know, obviouslythe share market's been
extremely volatile and the wholeworld has been volatile because
of Trump and his tariffs.
So, to answer your question,whoever asked it, that's why I'm
mentioning it there, ladies andgentlemen, and I can mention it
because I want to.
In addition to that, ladies andgentlemen, let me just also give
(04:23):
an explanation to underquoting,because I think sometimes
people get confused thedifference between what
underquoting is and what a greatresult is.
So if a real estate agent goesto a vendor to list their
property and says to them yourhouse is worth a million dollars
(04:46):
, and then goes out into themarketplace and tells buyers,
you can buy this for $800, cometo the auction.
They come to the auction andthe whole time the owner wanted
(05:06):
a million dollars.
The agent is saying $800,000.
And, hypothetically, let'sassume, on the day he decides to
put in a vendor bid of, say,$960,000, that's black and white
.
That is under-quoting, quotedlow, and some agents use the
(05:28):
term quote them low, watch themgo.
Stupid thing to say, stupidthing to say.
So let me tell you what underquoting is not.
When an agent is being quotinga million dollars on a property
that they told the owner amillion dollars and then at
(05:50):
auction it goes crazy and sellsfor $1.2 million, that is not
underquoting.
That is a property that hassold $200,000 more than the
reserve, $200,000 more than whatthe owner wanted.
It had competition, people gotcarried away and that is not
(06:14):
underquoting.
So what happens in real estate?
Is that underquoting or is itjust competition?
Well, it's a combination ofboth.
There are some properties thatare underquoted, there are some
properties that are quotedcorrectly, except two or three
people get over emotional andthey go for it as great for some
(06:36):
properties and patchy forothers.
But overall I would probablysay a marketplace that is
significantly better since therate cut and I believe that we
(07:02):
have another Reserve Bankmeeting coming up very soon, I
think in the next week or two.
Hey, johnny Caglionotis, goodluck with your team.
The Bulldogs are playing.
I think they're playingtomorrow or they might even be
playing today, but I want to letyou know that I got asked today
(07:24):
by someone if I was a firsthome buyer and I didn't care
about anywhere to invest, wherewould I invest?
And I'll tell you what.
The answer I gave him wasQueensland.
That's where I would go.
A few reasons.
Reason number one no stamp dutyfor first home buyers.
(07:49):
Reason number two as of March.
Reason number two I think thatmarket is going to benefit a lot
out of the Olympic Games.
Reason number three come March3, now that we know that we've
got an election day, on that day, if the coalition were to win
(08:13):
and don't take that me sayingyou should vote for the
coalition, because I don't evenknow who I'm voting for Hi,
johnny, we'll talk about landtax in a moment, but I've got to
say to you, if people getaccess to the superannuation,
that's 50 grand, and then, inaddition to that, if they don't
have to pay stamp duty, brisbanelooks like a beautiful
(08:37):
marketplace to invest in andalso lots of other parts of
Queensland, and I got to hand it.
I got to hand it to thatgovernment.
They're having a go to win thepopularity contest with home
buyers.
Mate, that guy there I don'teven know who the Premier of
Queensland is, but I'm going totell you they're the opposite to
the old Premier of Victoria.
(08:59):
They want people to go there.
What the old Premier, dictatorDan, wanted, he wanted people.
Well, I don't know.
I was about to say he wantedpeople to leave the state.
I think he just wanted peopleto stay inside their houses for
two years.
In addition to that, ladies andgentlemen, I'm going to finish
(09:19):
off here because I want to gowatch Sydney FC play, but I want
to let everyone know,particularly the real estate
fraternity Arik Brocha is comingout.
Arik started posting speakersthere.
Kamala Harris she is live.
She's coming in, and I knowthat there have been a lot of
people that have thought thatshe has been a strange choice.
(09:43):
Have been a lot of people thathave thought that she has been a
strange choice.
Most people are actuallydelighted to have someone in the
actual room of that calibre,but for me, the guy that I'm
really pumped to see is StephenBartlett, that podcaster and
author of the Diary of a CEO.
So that's on the 25th and the26th of May.
(10:05):
Good to see you.
Michael has a photos.
And apart from that, ladies andgentlemen, oh, by the way, I've
got to tell you I had fourproperties today that were leads
that had come from local agentfinder.
I really don't know why morereal estate agents are not
(10:28):
actually using that.
They'll go out.
Today, john, there was, I think, nine out of 11 sold.
Local agent finder has got twothings I love about Number one
they've got a tool called theprospecting tool.
When someone goes onto theirwebsite to actually suss out
(10:49):
real estate agents and doesn'ttake the next step, local
AgentFinder has got a tool thatthey're able to sell you and
they get so many leads in everysuburb every month of those
people.
They won't give you the exactperson, but they'll say it's
amongst these 25 homes andthat's done on a subscription
basis and it's one agent perarea.
(11:10):
Yes, morris, I do see a ratecoming out.
I'm not quite sure if it'sgoing to happen next week, but
so in addition to that, ladiesand gentlemen, I've got to say
oh, I just had a mental blank onwhat I was talking about.
I was talking about local agentfinder.
But I've got to tell you anyreal estate agent that wants to
(11:30):
get more listings, I've got totell you.
Get onto local agent finder.
And the thing that I love abouttheir model is that every
listing that they refer you intheir normal product, you know
you might have to pay 20% Ithink it maxed up to five grand
but 20% of something or sorry,80%, you got to pay 20%.
(11:50):
So you get 80%.
80% of something is better thanyou know 0% of nothing.
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