November 1, 2025 • 10 mins
- 00:08 – My last words on The Block
- 01:50 – Why the market won’t be as hot: this excess supply of stock has already impacted the energy in the market
- 03:54 – You’re not married to your mortgage
- 04:36 – Why I’m against auctioning on 20 December
- 07:05 – There are hidden gems in January
- 08:27 – My response to: “Geez agents have a good life!”
My Clearance Rate: 13/14 SOLD
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_00 (00:00):
You don't make a decision on your life based on
rate.
You make it based on yourcircumstances.
That's a lot more work todaythan I had last Saturday on the
block, where I did one.
Has to be one of the most talkedabout real estate subjects this
(00:22):
week.
The block.
And I've got to say to you,actually, there was an article,
some there was an article todayabout the block talking about
how much people get paid.
Let me tell you one thing.
I'll tell you.
My block invoice is$2,500.
(00:46):
That's my block invoice.
But if I'd stayed in Sydneyinstead of going to Melbourne, I
would have actually done like13, 14 options like today,
because we're in spring.
And let me tell you, it's themost expensive auction I do
every year, going to Melbourne.
And I don't know whether I'mgonna go back there again
(01:08):
because I'm upset because Inever like their edit.
I mean, don't get me wrong,they're decent people, but they
show my auction went for 37minutes, and what did they show?
Like a minute.
I get real.
Anyway, let's move on.
Let's move on from that.
12 out of sorry, 13 out of 14,and it was the last property
(01:34):
that did not sell.
How do you end up doing 14options in a day?
You start early at 9 and youhave finish at 6, 6.30.
That's what you do.
But I'm gonna say something toyou.
I believe that it's not as gonnabe as hot as what people think
(01:55):
now.
And I'm changing my view on thismarket.
And the reason I'm changing myview is I've got to tell you,
while some properties are goingoff, you talk to the honest real
estate agent, they will tell youthis excess supply of stock has
already impacted the momentumand energy of the market.
(02:20):
All this stock that has come onthe market in spring has given
buyers so much choice, andthat's a good thing because
things were getting out ofcontrol.
They were getting out of controlbecause we had a short number of
listings, we had the governmentthat had fast-tracked its 5%
deposit guarantee scheme, and wehad interest rates going down.
(02:42):
Now things are changing.
We've still got the 5% depositscheme in there, but all of a
sudden, the talk on rates afterthe inflation figures that came
out on the 29th of October,which came in higher than
expected, has basically put astop to rates dropping.
This is what is being reportedin the media when they resite
(03:06):
search bankers, and they don'texpect that there will be a rate
cut on the day the MelbourneCup's on.
And there has been talk as wellnow that a number of the banks,
when they interview them, saythere's a good chance we're not
getting any rate cut anytimesoon.
(03:27):
This also has impacted themarket straight away today.
And the reason why, it's affectssentiment.
People start thinking, oh, thankGod, rates aren't going to go
down, so it's not going to gocrazy.
But I've got to say to you, Ibelieve that you should never
make a decision on buying realestate based on current interest
rates because rates go up andrates go down.
(03:47):
And what you have when you takeout a mortgage is you have
you're not marrying themortgage.
You've got a flirty relationshipbecause that goes up and down
all the time.
I mean, would you not,hypothetically speaking, would
you not buy a property?
Would you not buy a property inauction next Saturday because
(04:15):
rates are gonna go up in 15years' time and you'll still
have a mortgage.
Think about that concept.
We marry a house, but we dateinterest rates.
You don't make a decision onyour life based on rates, you
make it based on yourcircumstances.
And in addition to that, I'vegot to tell you, I had a vendor
(04:38):
that tried to book an auctionwith me today for the 20th of
December.
And I said to them, I prefer youdon't option on the 20th of
December.
And they said to me, Well, we'retalking to our real estate
agent, and that agent said to usthat the 20th is fine.
And I said to the vendor, well,get the agent.
(05:00):
The agent normally books me, getthe agent to call me.
So the agent calls me, and theagent says, Why are you talking
my vendor out of doing anauction on the 20th?
I said, Well, for a start, youdon't have that much control
over your vendor because yourvendors called me.
Why weren't you calling me?
But that's another side issue.
The second thing is, I said,Listen, would you auction your
(05:21):
house on the 20th?
Would you?
Or would you be at WestfieldBurwood or Westfield Bondi
shopping?
Or will you be at Bondi Beach?
Or will you be waking up with ahangover from your Christmas
party?
I don't think you should auctionon the 20th.
I think you should auction onthe 13th.
(05:41):
And quite frankly, if youhaven't got your act together to
be able to do it by the 13th,you might want to look at doing
it early in January.
Because I'll tell you why.
The buyers are back.
The buyers are back are actuallyon Boxing Day.
Realestate.com tell us thenumber one day on their site is
Boxing Day.
(06:02):
Do you want to know why?
They might physically not be atan open, but they're scrolling.
They're sitting at home watchingthe Boxing Day cricket with new
goals, new resolutions.
They've got time up theirsleeve.
I don't know, they're boredsitting in the mother-in-law's
house, so they're playing aroundand scrolling on their phone.
Margaret, agents don't care.
Well, some do.
Some do.
It's not right to actually justturn around and, you know, just
(06:24):
say every agent doesn't care.
This one didn't care.
He actually said to me, um,mate, don't worry about it.
I'll get another auctioneer.
Well, I don't know what he'sgoing to explain to that Vendor.
But I mean, unless you really,really have to, I wouldn't be
doing it on the 20th, right?
And in fact, I would say comethe 15th of December to the 25th
(06:48):
of December, most buyers aremore interested in the festive
season, holidays, family,shopping, Christmas parties,
beaches.
That's what they're interestedin.
However, having said that,there's a shortage of stock on
the market early in the newyear.
(07:08):
Do you want to know why?
Because real estate's got a lotof nine and a half month-a-year
agents.
That's right, nine and a halfmonths.
That's what I think a lot of thereal estate agents work.
In fact, some work nine months.
You know what they do?
Oh, Melbourne Cup's here, sun'sout, guns out, Christmas is
here.
And then they don't do muchbetween November and December,
(07:32):
and then they turn around andthey say, oh, well, you know
what?
It all kicks off after AustraliaDay, after the Australian Open,
and there's no one else around.
So they basically are working anine-month year, and then they
want to complain.
Listen here.
January is a good time to beputting a property on the market
because you sell with lessproperties on the market.
(07:53):
Why do you think at the moment,I think the heat came off a
little bit because there's a lotof stock.
There's a lot of stock.
As Richard says, you can't evenget a conveyancer after the 19th
anyway.
They're out there.
What do you think?
The solicitors have had a bigyear as well.
They want to be sitting on theirbig boats, on their big fat
bumps, smoking their big fatcigars if they do that stuff.
(08:15):
Anyway, team, that is what Ithink is happening.
Team, it's so good to be back inSydney.
Auctioning, I'm gonna go hardtill the rest of this year, and
I've got to say, you know what aguy said to me today, guys, you
guys have got a good life.
You drive around, nice car, callbingo numbers, and get paid.
(08:36):
Well, let me tell you, somepeople do that.
I have to tell you, Saturday ismy easiest work day of the week.
During the week, I wake up at 4o'clock.
I go to bed at around 8.30.
And I've got to tell you, I'mworking 90% of that day.
I'm up at around 250 days awaythis year.
(08:58):
Do you understand?
Like, man, I get tired lookingat my diary schedule, but it had
to be done because I lost a bitof time this year.
I had to go in for radiation andI lost a bit of time, and I had
that whole, you know, withtreatment.
Then I decided to go overseas,ended up picking up all this
work overseas.
I'm going back again, by theway.
I love the UK.
(09:18):
Going back on the 18th of June.
I'm booking in work left, right,and centre.
I think I'll do six events inEurope and countries next year.
That's what I think.
Anyway, guys and girls, that isthe end of the day.
Of course, busier than the PM.
I'm busier than the PM.
(09:39):
Of course I am, John.
By the way, John, let me tellyou, my company and my business
partner and I sold the PM'shouse.
That's right.
Albo, we sold his house when hewasn't prime minister.
When he wasn't prime minister,we sold his house.
(10:00):
He was going out, or I think hemight have been married to
another politician.
He ended up separating.
He's now with this new partnerthat he's married.
And um I think I work harderthan Albo.
I actually think a lot of peoplework harder than Albo.
But I want to let you know.
(10:22):
Those of us are in real estate,be hungry, but be humble.
Don't carry on.
Think about it.
We show toilets.
You don't make a decision on your life based on
rate.
You make it based on yourcircumstances.
That's a lot more work todaythan I had last Saturday on the
block, where I did one.
Has to be one of the most talkedabout real estate subjects this
(00:22):
week.
The block.
And I've got to say to you,actually, there was an article,
some there was an article todayabout the block talking about
how much people get paid.
Let me tell you one thing.
I'll tell you.
My block invoice is$2,500.
(00:46):
That's my block invoice.
But if I'd stayed in Sydneyinstead of going to Melbourne, I
would have actually done like13, 14 options like today,
because we're in spring.
And let me tell you, it's themost expensive auction I do
every year, going to Melbourne.
And I don't know whether I'mgonna go back there again
(01:08):
because I'm upset because Inever like their edit.
I mean, don't get me wrong,they're decent people, but they
show my auction went for 37minutes, and what did they show?
Like a minute.
I get real.
Anyway, let's move on.
Let's move on from that.
12 out of sorry, 13 out of 14,and it was the last property
(01:34):
that did not sell.
How do you end up doing 14options in a day?
You start early at 9 and youhave finish at 6, 6.30.
That's what you do.
But I'm gonna say something toyou.
I believe that it's not as gonnabe as hot as what people think
(01:55):
now.
And I'm changing my view on thismarket.
And the reason I'm changing myview is I've got to tell you,
while some properties are goingoff, you talk to the honest real
estate agent, they will tell youthis excess supply of stock has
already impacted the momentumand energy of the market.
(02:20):
All this stock that has come onthe market in spring has given
buyers so much choice, andthat's a good thing because
things were getting out ofcontrol.
They were getting out of controlbecause we had a short number of
listings, we had the governmentthat had fast-tracked its 5%
deposit guarantee scheme, and wehad interest rates going down.
(02:42):
Now things are changing.
We've still got the 5% depositscheme in there, but all of a
sudden, the talk on rates afterthe inflation figures that came
out on the 29th of October,which came in higher than
expected, has basically put astop to rates dropping.
This is what is being reportedin the media when they resite
(03:06):
search bankers, and they don'texpect that there will be a rate
cut on the day the MelbourneCup's on.
And there has been talk as wellnow that a number of the banks,
when they interview them, saythere's a good chance we're not
getting any rate cut anytimesoon.
(03:27):
This also has impacted themarket straight away today.
And the reason why, it's affectssentiment.
People start thinking, oh, thankGod, rates aren't going to go
down, so it's not going to gocrazy.
But I've got to say to you, Ibelieve that you should never
make a decision on buying realestate based on current interest
rates because rates go up andrates go down.
(03:47):
And what you have when you takeout a mortgage is you have
you're not marrying themortgage.
You've got a flirty relationshipbecause that goes up and down
all the time.
I mean, would you not,hypothetically speaking, would
you not buy a property?
Would you not buy a property inauction next Saturday because
(04:15):
rates are gonna go up in 15years' time and you'll still
have a mortgage.
Think about that concept.
We marry a house, but we dateinterest rates.
You don't make a decision onyour life based on rates, you
make it based on yourcircumstances.
And in addition to that, I'vegot to tell you, I had a vendor
(04:38):
that tried to book an auctionwith me today for the 20th of
December.
And I said to them, I prefer youdon't option on the 20th of
December.
And they said to me, Well, we'retalking to our real estate
agent, and that agent said to usthat the 20th is fine.
And I said to the vendor, well,get the agent.
(05:00):
The agent normally books me, getthe agent to call me.
So the agent calls me, and theagent says, Why are you talking
my vendor out of doing anauction on the 20th?
I said, Well, for a start, youdon't have that much control
over your vendor because yourvendors called me.
Why weren't you calling me?
But that's another side issue.
The second thing is, I said,Listen, would you auction your
(05:21):
house on the 20th?
Would you?
Or would you be at WestfieldBurwood or Westfield Bondi
shopping?
Or will you be at Bondi Beach?
Or will you be waking up with ahangover from your Christmas
party?
I don't think you should auctionon the 20th.
I think you should auction onthe 13th.
(05:41):
And quite frankly, if youhaven't got your act together to
be able to do it by the 13th,you might want to look at doing
it early in January.
Because I'll tell you why.
The buyers are back.
The buyers are back are actuallyon Boxing Day.
Realestate.com tell us thenumber one day on their site is
Boxing Day.
(06:02):
Do you want to know why?
They might physically not be atan open, but they're scrolling.
They're sitting at home watchingthe Boxing Day cricket with new
goals, new resolutions.
They've got time up theirsleeve.
I don't know, they're boredsitting in the mother-in-law's
house, so they're playing aroundand scrolling on their phone.
Margaret, agents don't care.
Well, some do.
Some do.
It's not right to actually justturn around and, you know, just
(06:24):
say every agent doesn't care.
This one didn't care.
He actually said to me, um,mate, don't worry about it.
I'll get another auctioneer.
Well, I don't know what he'sgoing to explain to that Vendor.
But I mean, unless you really,really have to, I wouldn't be
doing it on the 20th, right?
And in fact, I would say comethe 15th of December to the 25th
(06:48):
of December, most buyers aremore interested in the festive
season, holidays, family,shopping, Christmas parties,
beaches.
That's what they're interestedin.
However, having said that,there's a shortage of stock on
the market early in the newyear.
(07:08):
Do you want to know why?
Because real estate's got a lotof nine and a half month-a-year
agents.
That's right, nine and a halfmonths.
That's what I think a lot of thereal estate agents work.
In fact, some work nine months.
You know what they do?
Oh, Melbourne Cup's here, sun'sout, guns out, Christmas is
here.
And then they don't do muchbetween November and December,
(07:32):
and then they turn around andthey say, oh, well, you know
what?
It all kicks off after AustraliaDay, after the Australian Open,
and there's no one else around.
So they basically are working anine-month year, and then they
want to complain.
Listen here.
January is a good time to beputting a property on the market
because you sell with lessproperties on the market.
(07:53):
Why do you think at the moment,I think the heat came off a
little bit because there's a lotof stock.
There's a lot of stock.
As Richard says, you can't evenget a conveyancer after the 19th
anyway.
They're out there.
What do you think?
The solicitors have had a bigyear as well.
They want to be sitting on theirbig boats, on their big fat
bumps, smoking their big fatcigars if they do that stuff.
(08:15):
Anyway, team, that is what Ithink is happening.
Team, it's so good to be back inSydney.
Auctioning, I'm gonna go hardtill the rest of this year, and
I've got to say, you know what aguy said to me today, guys, you
guys have got a good life.
You drive around, nice car, callbingo numbers, and get paid.
(08:36):
Well, let me tell you, somepeople do that.
I have to tell you, Saturday ismy easiest work day of the week.
During the week, I wake up at 4o'clock.
I go to bed at around 8.30.
And I've got to tell you, I'mworking 90% of that day.
I'm up at around 250 days awaythis year.
(08:58):
Do you understand?
Like, man, I get tired lookingat my diary schedule, but it had
to be done because I lost a bitof time this year.
I had to go in for radiation andI lost a bit of time, and I had
that whole, you know, withtreatment.
Then I decided to go overseas,ended up picking up all this
work overseas.
I'm going back again, by theway.
I love the UK.
(09:18):
Going back on the 18th of June.
I'm booking in work left, right,and centre.
I think I'll do six events inEurope and countries next year.
That's what I think.
Anyway, guys and girls, that isthe end of the day.
Of course, busier than the PM.
I'm busier than the PM.
(09:39):
Of course I am, John.
By the way, John, let me tellyou, my company and my business
partner and I sold the PM'shouse.
That's right.
Albo, we sold his house when hewasn't prime minister.
When he wasn't prime minister,we sold his house.
(10:00):
He was going out, or I think hemight have been married to
another politician.
He ended up separating.
He's now with this new partnerthat he's married.
And um I think I work harderthan Albo.
I actually think a lot of peoplework harder than Albo.
But I want to let you know.
(10:22):
Those of us are in real estate,be hungry, but be humble.
Don't carry on.
Think about it.
We show toilets.
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