November 17, 2025 • 29 mins
What actually stops most agents from hitting seven figures? In this episode, we strip away the fluff and go straight to the real levers — belief, identity, environment and daily execution. You’ll learn why goals must force growth: aiming from 32 to 42 sales changes nothing, but aiming for 75 requires a full upgrade in tonality, questions, energy and systems. We also break down why warm prospecting beats vanity content every time. Past appraisals, neighbours around new listings, local buyers and owners you spoke to 6–24 months ago consistently outperform random cold dials and reel-heavy branding that never asks for the business.
We also tackle the environments and compliance realities that most agents ignore. Your culture matters — big office buzz, boutique focus or tight EBU — and the wrong one will quietly cap your growth. We unpack the three circles that hold agents back (situation, other people and self) and why the self is usually the true bottleneck. Plus, with underquoting under the microscope and AI monitoring campaigns, we outline the simple habits that protect trust: document conversations, update guides as enquiry shifts and deliver transparent vendor reports. If you’re ready to stop playing small and operate like a genuine million-dollar agent, this episode gives you the blueprint.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
John Panos, John McGrath, Troy Malcolm, Million
Dollar Agent the Podcast, yourweekly fix on everything real
estate.
It's unstructured, it's allover the shop, it's chaotic, but
you keep listening to it andit's free.
Right?
John McGrath (00:14):
So that might be the secret.
Might be the secret.
How are you, Cody?
Very good, very good, JM.
So we still have lots of timeto go left this year, but we are
getting ready for next year.
And I think today, shortly,we're going to be talking about
Tommy some of the stuff that youmight want to switch in your
own mind and maybe change a fewhabits because I think the three
(00:37):
of us share the view that thosepeople operating at 15-20%
their potential.
And we don't want to be doingthat in 2026 for sure.
So New Year's resolution time,which I must mention, I was
talking to uh young Ethan He,who I think you and I both agree
is got to be one of the topagents the country has ever
seen.
Um he is our franchisee uh downin Victoria, one of our
(01:01):
franchisees down in uh Clayton,Victoria.
Anyway, he was mentioning tome, which you were just talking
about off air, Tony, you've gota new program.
Is it a black belt program,mastery program?
Tom Panos (01:12):
Yeah, so what I did, John and Troy, I've sat down and
I've spent a lot of timethinking and planning through,
and I look at what other peopleare doing overseas.
And I actually did speak to alot of the coaches in the US and
also people that are incoaching outside of um the real
estate industry, and there's noquestion about it that having an
(01:34):
online, face-to-face hybridversion is far more effective
than just online only.
So as of 2026, Black Belt, aprogram that involves four
quarterly catch-ups.
We go into lockdown, verysimilar to what we did in Byron
(01:56):
Bay um uh a few months ago.
So every quarter, two dayslocked in a room, small group of
people, and then every month atthe end of the month, there's
an accountability one-on-onesession.
In addition to that, there's anapplication that they put in
and send their figures in.
(02:17):
So we're measuring theirnumbers.
In addition to that, John,you've been very kind enough.
I'm gonna bring those peopleover to your office on the 24th
of March.
We're gonna host them andyou're gonna be in that room
there with me.
We're also gonna show them someof the best EBUs.
You've got the best EBUs in thecountry, John.
Your business at McGrath's anduh it's great.
John McGrath (02:39):
I look, I I just uh Ethan was pumped when he when
he was telling me about ittoday.
And um, I know I've beenencouraging you to kind of
slightly change your formatbecause I think you get on too
many planes and race around intoo many parts of the world, and
I think at some point, youknow, it'd be great for you and
great for your clients too.
Just maybe less is more, and soI'm really delighted that you
might be uh focusing a littlebit more on your uh on your VIP
(03:02):
clients.
Tom Panos (03:02):
And that's so it's it's basic, it's basically less
clients but deeper with them.
We're gonna have 40.
It's only uh you can only havean area and be the only agent.
I don't feel comfortable havingtwo agents that go to listing
presentation against each other,sitting in a room two days at a
time.
I don't feel it's right.
(03:24):
So um wherever you listen toyour podcast, we're gonna have a
link for you to actually umapply.
And I want to let you know youcan't just sign up.
So when you press that link, itdoesn't get take you to a
payment because I also got tofeel like you're gonna benefit
out of it.
And I also got to feel like ifI'm gonna be in the room and our
(03:44):
team and the people we've got,they they they everyone gets on
better if the people are thesame style of people.
And I get the impression, Iknow there are different types
of agents.
You got, you know, uh highflies, and various coaches have
got their own genre and owngroup.
For me, I just want to feelcomfortable that the person's
gonna benefit and they're ourstyle of people, and it's gonna
(04:05):
mean I'm gonna have a quickphone call just to find out a
little bit about you.
We've already given um ourfirst uh 15 spots have gone to
our existing members, so wehaven't actually marketed um as
yet, John.
So you only would have foundout by me and talking to you
about Ether.
John McGrath (04:20):
Yeah.
Tom Panos (04:21):
Right?
So check it out.
It'll be all over my socialsover the next month, stout
January 1.
And Susan has just actuallysent me a link there as well,
and I think the link that she'sgot is called
realestategym.com.au forwardslash black belt.
So we'll make sure that it's onyour Spotify.
(04:42):
But enough selling, enoughselling, because that's what
I've just done.
John and Troy, today's topic.
Like I got asked this morningby a guy that doesn't work in
real estate.
He works in photocopies.
He says, I want to get intoreal estate and become like all
these other thousands ofmillion-dollar agents.
(05:03):
I said to him, What makes youthink there's thousands of them?
And he goes, Oh, well, you'vegot a podcast called Million
Dollar Agent.
I said, Well, it doesn't meanthat there's thousands of it.
And he goes, right, he goes,Yeah, but he goes, I get the
impression most people aremillion dollar agents.
I said, No.
I said, I haven't done thenumbers, but I would say they'd
(05:24):
be lucky to be 90%.
John, you probably would gothink they'd be lucky they'd be
lucky to be 10%.
You probably think to yourself,I don't know.
John McGrath (05:31):
I think I think in the greater you know
environment across Australia,um, whilst you know, you we're
we're used to, I guess, youknow, both our teams and go to
ARIC and you know, sort ofgetting to know quite a few of
the high performing agents.
But I think most agents, thenumber, the stat that I read
once was was like they earn100,000 a year, and that that
might be well be gross, whoknows?
(05:52):
So for sure, there is is mthere's a long tail of of great
potential in the industry.
And I think we're going tofocus a bit on how do we unlock
that potential, or how do youunlock that potential in 2026,
right?
Tom Panos (06:07):
Yeah, so I think a good topic is why do 99% of real
estate agents never write amillion dollars?
And I think what we should dois all do a deep, deep dive, and
look at look at the mindset,look at the traps, look at the
excuses, look at the behaviors,look at some of the skills.
And, you know, essentially, Iknow that we've all had a view,
(06:30):
and I know John, you've beenheavily shaped that a lot of
people uh have got self-limitingbeliefs.
A lot of people have also got aview in life that, hey, I can't
do it, I may sabotage theirsuccess.
Example, I had someone say tome, Tom, I'll write more, but I
don't want to destroy my family.
Or I'll, I'll, I'll, I'll, I'llvarious stories that people
(06:53):
have, which is it's often if Ido this, I can't have this.
It's it's thinking like that.
So, Troy, John, why do youthink most real estate agents,
nearly all real estate agents,bar 1%, never get to a million
dollars in fees?
John McGrath (07:10):
So let's start the conversation with the premise
that everyone can.
And which I think is prettytrue.
You might say I'm from a town,there's only 20 sales a year or
something.
I mean, there might be the oddperson that actually is just not
in a market that would yieldthat.
But most people are in a marketwhere if they had 15, 20
percent market share, they'redoing seven figures in most
(07:30):
parts of of Australia.
So it should be there for uhvery achievable for each and
every one of our listeners.
I think first thing, Tom, isthey don't aim for it, which
kind of leads to the theLinkedIn second question or or
proposition that they don'tbelieve they're capable.
(07:50):
Now, maybe we're talking to thewrong group because most people
that are listening to this dohave a a different set of
beliefs and they do think a bitbigger than the average.
But yeah, my my whenever I'mcoaching people, you know, I'll
say how many sales did you dolast year?
And you know, oh 33.
Okay.
How do you feel about that?
Oh, I think I can do better.
What's your goal next year?
42.
(08:11):
And I say, Well, what why not75?
And then they look at me asthough, you know, like 75.
I say, Yeah, why not 75?
If you can do 32, you can do75.
So that for me in my coachingis often the beginning is trying
to get someone to stretch theirthinking about what they're
capable of.
And then, as you mentioned, theyou know, the concept of
(08:33):
mooring lines, Tom, then try andwork out, well, why is it up
until this conversation have younot believed you can do a
million dollars or 75 sales?
By the way, 75 sales in mostparts of Australia is probably
going to be way more than amillion.
But um, and then then you know,one by one, I kind of snip off
at at at the core, you know,well, I don't want to be more
(08:54):
stressed.
Well, what if what if 75 isless stressful than 32?
Because 75 represents momentum.
75 you can hire a team, 75 youcan do money, spend money in or
invest money in social mediamarketing.
Um, yeah, 75 you can hire, 75sales, you can hire a coach like
Tommy Panels.
I mean, there's so many thingsyou can do as you grow, I do
(09:16):
believe.
So, but you know, it's no goodme believing that.
The person that I'm coachinghas to believe it.
So I think then it's aboutidentifying for the individuals
what is it that holds them back,Troy.
And I I think that belief, um,not thinking big enough, which
is often attached to belief.
I think identity, which isoften attached to belief.
(09:38):
Oh, I'm just not that guy, I'mnot a I'm not a you know, a
great a gung-ho salesman, I'mI'm you know, like I'm never
gonna make those numbers.
When you stop telling yourselfthat self-limiting story and
start asking the question, well,what would it take?
Who would I have to become?
What would I have to do?
(09:58):
And then I can guarantee youthe same person that's writing
32 ain't gonna be the sameperson that's writing 75 sales.
So then we need to try and workout what's the gap.
What do we have to change so wecan get you, Jenny Jones, who's
writing 32, up to 50 or 75 or100, whatever number you want to
pick.
Um, but it ain't gonna be theJenny Jones 1.0, it's gonna be
(10:22):
Jenny Jones 2.0.
So I think that's the kind ofand I th that's the exciting
thing for me is the change isnot the daunting part, I think
it's actually the exciting part.
It's like, you know, who whocould you become if you start
getting more comfortable inuncomfortable conversations?
Who could you become if youstart actually believing that
(10:43):
you are an elite salesman, anelite mother, father, whatever?
So I think Troy, that'll be mystarting premise.
Well, I mean, you you've beenaround the game a long time.
What what are you?
Under Troy?
Troy Malcolm (10:55):
Yeah, sorry, the alarm's just going off here, and
it's probably going off for afew people on this topic as
well, to be honest.
Um, but John, I I 100% agreewith you.
I think um people get into thatmindset that comfort uh is is
where they want to stay.
They're not prepared to dothose things that make them
uncomfortable, to make themgrow.
(11:15):
Most of the time, growthhappens not because of success,
growth happens because offailure.
And so when you go throughthose learning experiences,
you're going to open yourself upto what's possible.
The other thing that I notice alot with uh people that are not
willing to go that next leveland maybe limiting what they can
achieve is the fact, John, thatthey constantly make excuses.
(11:37):
They find a reason not to dothe activity or the work to get
them back in front.
It can be market, it can betechnology, it can be their
database, it can be they're toobusy, they're not busy enough,
the market conditions of aspecific type of product they're
trying to sell.
And so when you take away thoseexcuses and you realize that
there's others in the marketthat are performing, then you're
(11:58):
right.
It's a hundred percent aprocess, and it's a process that
you need to follow and beconsistent with that'll get you
to that next level.
John McGrath (12:06):
Simplifying it too, Troy.
I, you know, I'm I love Hormosyat the moment, Alex Hormosy,
and and I I think he's just gotsome really great, great
concepts.
And one of the yeah, one ofthem I've shared, I think, on
this podcast before, which is ifyou want to achieve greatness,
you need um unreasonable goals,you need a plan, and you need
not enough time.
(12:26):
Yeah, unreasonable goals mean,you know, seriously, I reckon
you've got a better chance ifyour goal is to go from 200,000
to 2 million than it is from200,000 to 400.
Because you're gonna have to dosome serious soul searching and
serious reinventing to getthere.
Uh, and then once you start thethe ball rolling, it gets mega
exciting once you start reallyramping up your numbers.
(12:47):
Um so I think that's really a akey thing.
The other thing he said that Iheard too just a few days ago,
and he said, if you're not ifyou're not making enough sales,
you're either not saying theright things or you're not
saying them in the right way.
So you think about sales, youknow, prospecting, listing,
selling, prospecting, pick upthe phone, anyone can do that,
(13:08):
dial a number, someone answers.
So what do you say then?
And how do you say it?
So what's the energy, what'sthe you know, tonality?
And you can sound like atelemarketer and you won't get
very far, or you can sound likean interesting human being who's
interested in their situationand love to share some ideas
with them, and with some goodenergy attached to it, and all
(13:30):
of a sudden people are going towant to stay on the phone and
talk to you.
Um so I think it's about youknow it's a process.
It's a process.
If anyone listening to thishasn't been prospecting and
decides to pick up the phone foran hour a day, five days a week
for in 2026, right the waythrough the year, and with a
good energy and and a good and agood pitch or a good opening
(13:52):
statement, and you want to do itall day, every day for the
whole year, Monday to Friday,you're gonna double your
business.
I will guarantee you.
But you've got to do it.
You gotta do it.
Tom Panos (14:04):
So I've got a Troy and John.
Murdoch once had sent us avideo at the start of the thin
year to all the managers, youknow, wishing us all the best.
Thank you for everything you'vedone, another thin year.
And then in the video, he says,It's your job as a manager to
get the current people that arestuck unstuck.
(14:28):
And I clearly remember he said,generally speaking, if someone
is at A and they want to go toB, there are normally three
circles that are the blockages.
He says, it's one of three.
And I uh for some reason itjust came up into my mind now.
He said, These are the three.
He said, the first one is it'sa situation.
(14:49):
There's a situation, and thatsituation is causing a block.
The second one is it's anotherperson, an external person.
And the third one is it's theself.
That person has an issue, andthat person needs to change the
view of the way that they lookat things.
And then he went on to say 90%of the times it's the self.
(15:11):
90% of the times he goes, it'sthe self.
And it's your job as a managerto help that person come up with
what is wrong with the storythat they have, right?
What is wrong with it, right?
But then he also did say thereis a possibility that there's
the other two, which is asituation.
And I remember someone askedthe situation, and he he says,
(15:33):
Look, they might actually beworking in something that they
don't love, you know, and thatto me could be an example.
Like we had a salesperson thatwas an inner city person that
lived in in lived inDarlinghurst, and I don't know,
we had them selling printadvertising out in Penrith,
right?
And what happened is as soon aswe moved that person to work
(15:53):
into the city central where theyhad clients that they used to
hang out with, right?
They were that kind of uh um uhthe the demographic suited that
person, right?
And I can I can picture thatsometimes you got you could be
working in it in a wrongenvironment.
That does happen, right?
And there are there are times,and we've got to accept it.
There are, I have a lot of mygym members who talk to me
(16:16):
privately, they wouldn't do itlike publicly, where they say,
I'm so unhappy about thesethings in my office, and it
drains me on a Sunday night.
And there are situations whereyou've got to change the
environment of that person, it'snot suited to that environment.
I do, and I am mindful, this isthis is the time of year that
there is environment changes.
(16:36):
If you notice every November,December, you notice a group of
people start moving and they'relooking at that.
What are your what are yourviews on the with your view on
those three circles?
And and the other with the bigbeing another person, it could
be you've got a person that'snot, I don't know, they're not
supporting you, they're notguiding you, they're not making
(16:56):
you feel happy about yourself.
What are your views on thosethree circles?
Troy Malcolm (17:01):
Troy, over to you and I'll continue on.
I think first and foremost, Tomenvironment is so important.
You've got to be an environmentwhere you don't have to be best
friends with every singleperson in your environment, but
you do have to feel as if you'resupported, you're nurtured, and
you are actually in a kind ofplace that you can do your best
work.
Now, for some people, that's areally large office and they do
(17:24):
have a lot of social things.
For others, that might be areally quiet office, a little
boutique agency where they canjust go about their business,
have a couple of key coremembers that are working with
them on a daily basis, andpeople like that.
Um, the second one youmentioned, situationship and
that kind of environment thatyou see.
Sometimes there is conflict,sometimes there is, you know, uh
(17:44):
in the old days we used to callthem a gorilla, um, you know, a
really big performer thatseemed to dominate the
workspace.
Um, you do get into thatsituation, and sometimes that is
a really bad environment to bein.
And so taking that person andreallocating them somewhere or
getting them to focus somewhereelse can make a big difference.
But Tom, where I always comeback to is a lot of agents right
(18:06):
now, they're stopping going tothe next level because they're
forgetting what really matters.
They're forgetting about thefundamentals of what we do.
They get caught up in tweakingtheir database till it's
perfect.
They get caught up in thescript and the dialogue, or they
need to go and do anothercourse, or they need to listen
to another podcast, or they needto do a social media reel.
When really, when you strip itright back, like John said
(18:28):
earlier, genuinely connectingwith people, having deep and
meaningful conversations withenergy and tonality that really
resonates with them, and beingconsistent around prospect list,
negotiate, sell, you are goingto get to that 1% club very
quickly.
Tom Panos (18:42):
So, John, before we go on, I want to talk about I I
posted a video, uh, posted, itwasn't a video, I posted a post
about a guy who walked slowlythrough a social media advert,
and this actually happened,right?
And I said to him, I said,mate, that looks like you're
doing an ad for some cologne,right?
(19:03):
And he goes to me, mate, hesaid, I spent a whole day with a
videographer doing that video.
And I said, I need you to knowwe get paid to sell a property.
Explain to me how this video,like, do you think this video is
gonna get someone to pick upthe phone and say, I saw the way
(19:27):
you moved in that video, and Iwant you to come to my house and
I want you to list my house.
And do you think it's gonna dothat?
Right?
I said, because right at themoment, you need to get a
listing and make a sale.
Like, what's the plan for that?
Right.
And I think you're right, Troy.
I mean, at the end of the day,if you just have a look at it,
(19:48):
what should we be doing on adaily basis in real estate?
Talking to our next listingthat's gonna come on, that's
called your chase list.
Talking to your current vendor,giving them service and help
them understand the reality ofthe marketplace, and talking to
hot buyers because we get paid alot of money to put deals
together, right?
(20:08):
We get paid handsomely to dothat.
Yet you're right, there are somany other people that move away
from those, you know, threemain conversations.
And I think a lot of peoplewant to be wannabe celebrities.
I think a lot of people sortof, you know, like they lose
track of this whole thing.
John McGrath (20:27):
Yeah, Reese Withersman was talking about
that a few years ago and Ericabout you gotta think who your
audience is, what's interestingto them and what are they
looking to you for, and thencompare it with your output.
I'm I I look at a lot of socialmedia real estate agency stuff
as you guys do to keep a keep atrack on things, and and there's
a lot of people I don't thinkhave ever asked themselves that
(20:49):
question.
It's more about ego.
So I think it's reallycritical.
Just going back to theenvironmental stuff and getting
unstuck too, Tom.
Funny, I yeah, I was coachingsomeone in the last few weeks,
and we yeah, we had a reallygood session and went through
and gave him some advice andstuff.
He rang me um a couple weeksago on the weekend and he said,
Um, how would you deal withthis?
And uh there was some tensionin the household.
(21:10):
And it kind of just remindedme, you know, and it was it
wasn't it wasn't divorce or theterritory, but it was
uncomfortable, and probably bothparties, by the sound of it,
would being irritating, wereirritating each other.
And yeah, so it's funny thatit's not just in the work
environment you've got to look.
You might have issueselsewhere, you might be hanging
out with the wrong people.
Um, you know, your your famousuh saying, I mean, you know, if
(21:34):
you don't want to slip over,don't go to slippery spots.
Tom Panos (21:37):
Um, better one if you don't want to if you hang out
with four dickheads, you'llbecome the fifth.
So you've got to avoid both thedickheads and the slippery
spots.
They're normally they'renormally in the same area, but
generally Totally true.
John McGrath (21:49):
Uh and also, you know, there could there can be
issues, tension, conflict withinthe within the uh the
relationship.
So um, you know, I just said tohim, man, just yeah, no, the
the worst time to try and solvean argument's in the middle of
it.
Um, so you know, try and justwork out what what's what's the
cause of the tension, and thenwhen things are better, the
environment's better, and you'vegot a bit more privacy, have a
(22:12):
productive chat uh about that.
So, yeah, I think it's just umyou've got to look at all parts
of your life and work out what'sholding me back.
Where am I stuck?
Um, where w what are the thingsthat frustrate me, upset me,
um, how do I deal with those?
And and usually the way youdeal with them, you've got 100%
control, you adjust the way youdeal with them.
(22:34):
That's yeah, that's really thekey thing.
You you adjust the way you seethem, you deal with them.
Um, yeah, someone said manyyears ago it's only a problem
because you think it's aproblem.
Um yeah, if you didn't think itwas a problem, it would it
would cease to be one.
And uh, I think that's really,really true.
So yeah, this is the time, youknow, and I know we've still got
plenty of selling to go betweennow and Christmas, and so maybe
(22:56):
I'm referring to over the breakwhen you've got a bit more
personal space and time.
You know, decide who is who doyou want to be in 2026?
What is the stuff you want toleave behind in 2025?
You know, what are the habits,the thoughts, the mindset, the
uh you know, the mooring lines,as we call them, that you want
to leave in 2025?
(23:16):
Because 2026, man, you leaveall that stuff behind in 25, you
tweak your habits, yourprocesses, your dialogue, a few,
you know, little little degreeseither way, you are in for your
best year of your life.
And 2x could be 4x, could be 6xover the next few years.
Tom Panos (23:34):
Johnny, I got off the phone call with Robbie
Christiano, who you've met.
He's an Indonesian guy from uhBrisbane.
Yeah, he's just finished, he'sjust clocked 2 million GCI, been
in real estate for two and ahalf years.
Two million GCI.
I said to him, You're gonna isthat your is that your best?
He goes, It's not finished yet.
I said, What do you mean?
He goes, I'm launching sixproperties today.
(23:55):
And I said, What for Boxing Daylaunch?
He goes, No, no, no, I'mlaunching six.
And he goes, mate, he goes, themarket's hot here in Brisbane,
six properties.
He goes, I go, how many are yougonna sell?
He goes, Well, I've I'll sellall the six properties, like I'm
launching six there.
And then I go, You serious?
He goes, Yeah, absolutely.
And just talking to him, Imean, some simple tweaks with
(24:18):
his team, they were getting theywere struggling with calls and
getting connections.
All it was was a shift, theywere calling random numbers,
very cold lists, outdatedappraisals, and old open for
inspections, and they switchedit up to doing past appraisals,
buyers who are local, startedworking buyers who are local,
(24:38):
started calling neighbors aroundnew listings or recent sales,
whether they're theirs or otheragents, and owners in their
database that they appraisebetween six months and 24
months.
And he says, Man, work startscoming in.
So sometimes it's the approach,and I see this happening a lot.
I see a lot of agents sittingthere, the Manila call center
(25:01):
approach, ringing strangers whodon't want to talk to them.
Wow, we got an owner, they'renot a tenant.
Wow, they might listen to mystory.
I mean, it's better than doingnothing, but not much better.
Like if you look at it, it'snot, it's not significantly
better.
Like calling warmer people,particularly in a world that we
live in now, which I've got tosay, I think John, you've gone
(25:21):
on the do not disturb list.
I saw you do it while we wereon our podcast only about a
month ago.
It takes 30 seconds.
John McGrath (25:28):
Yeah.
Yeah, no, I think I think yeah,that's that world is definitely
changing.
As is, and we're we're notgonna get bang on about too much
today, underquoting, but it'scertainly been in the news, uh,
up and down the east coast ofAustralia, in fact, around the
country.
So um, you know, we're gonna begetting as close to this as we
can to kind of give you as muchguidance, but please don't
(25:49):
delude yourself that it won't beyou.
Nowadays, it's everytransaction, every agent,
whether you do one sale a yearor 250, you are going to be
monitored by AI bots.
They're gonna know every timeyou quote, um, and uh, you know,
you're just in strife.
And it's the greatest change.
(26:10):
Please don't regret it or say,Oh, I can't stand this.
No, this is what the industry'sneeded: transparency,
integrity, uh, openness, uh,accurate guidance, better
conversation because this isgonna lead, Tom, as you know,
better conversation with vendorsbecause you're gonna have that
conversation up front,otherwise, you're gonna be
quoting the wrong figure andyou're gonna be losing all the
(26:30):
buyers or missing all thebuyers.
So I think I think it'll be agreat thing for the industry.
Tom Panos (26:35):
So I don't I think I think Troy and John, you said to
me, John, off-camera once, thereal estate industry needs to
operate in this new world of AI,video cameras, and everything
that's going on with theauthorities with a view that
everything you're doing, likethere's a speed camera every 50
(26:55):
meters.
And the reality is uh they'vegot the ability, and I believe
that this is probably theprocess that a bot is going into
the back end, is having a lookat what price you put it on,
it's then looking at what pricedid it sell for.
And then, I mean, only lastweek there was a lot of agents
right across New South Walesrequested to hand in files.
(27:16):
And I believe those files wereall the properties that there
was a variance of sole price andwhat was on the back end on the
portals, and they've asked forthe files.
Now, you don't have to freakout.
If you've done the right thingand you got a good result,
there's no problems.
They understand that.
What they're looking for is thesystemic, frequent flyer
(27:38):
behavior of people that have anoperating rhythm of quote them
low, watch them go.
That's what it is.
I don't think people have tofreak out if, oh, I'm worried, I
don't know what this is worth.
What if it goes off?
Man, as long as you do thingslegit, right, you've got nothing
to worry about.
Troy Malcolm (27:56):
Totally.
I mean the other thing is, Johnand Tom, during that process as
well, as long as you havedocumented notes and you're
leaning into the process andmaking sure that you're updating
clients, that's what they'relooking for.
Um, you know, we we don't knowwhat the price of a property
will go to and get at day one ofa campaign.
But if it is starting to get alevel of in interest at a higher
(28:19):
level, then we have to have thedocumentation that reflects
that.
I think it's a very simpleprocess.
And those smart agents outthere right now are very being
very diligent with the notesthey're taking, the updates
they're providing, the vendorreports, the way they're
engaging with buyers, becausethey know the process is far
more important than the outcomein many ways.
Tom Panos (28:39):
Well, very true, very true.
We'll we'll make sure that uhwe will use this platform in any
information that we feel thatwe can help, uh, whether it's
education or there's influenceand we've got to nudge people.
We think it's very, veryimportant.
We understand that uh buyers,sellers, and agents form the
(28:59):
three stakeholders in theequation, and transparency
between all three is what it'sall about.
John Troy, thank you.
Great time.
It's that time of the year,that's spring turning into
summer, right?
It's all good.
We'd love to watch a few NRLgames on a Friday, Saturday,
Sunday.
We don't have that, but we cango for walks out there.
The weather's great, life isgood.
(29:19):
We'll see you all then nextweek.
We're gonna best to go right tothe end.
John Panos, John McGrath, Troy Malcolm, Million
Dollar Agent the Podcast, yourweekly fix on everything real
estate.
It's unstructured, it's allover the shop, it's chaotic, but
you keep listening to it andit's free.
Right?
John McGrath (00:14):
So that might be the secret.
Might be the secret.
How are you, Cody?
Very good, very good, JM.
So we still have lots of timeto go left this year, but we are
getting ready for next year.
And I think today, shortly,we're going to be talking about
Tommy some of the stuff that youmight want to switch in your
own mind and maybe change a fewhabits because I think the three
(00:37):
of us share the view that thosepeople operating at 15-20%
their potential.
And we don't want to be doingthat in 2026 for sure.
So New Year's resolution time,which I must mention, I was
talking to uh young Ethan He,who I think you and I both agree
is got to be one of the topagents the country has ever
seen.
Um he is our franchisee uh downin Victoria, one of our
(01:01):
franchisees down in uh Clayton,Victoria.
Anyway, he was mentioning tome, which you were just talking
about off air, Tony, you've gota new program.
Is it a black belt program,mastery program?
Tom Panos (01:12):
Yeah, so what I did, John and Troy, I've sat down and
I've spent a lot of timethinking and planning through,
and I look at what other peopleare doing overseas.
And I actually did speak to alot of the coaches in the US and
also people that are incoaching outside of um the real
estate industry, and there's noquestion about it that having an
(01:34):
online, face-to-face hybridversion is far more effective
than just online only.
So as of 2026, Black Belt, aprogram that involves four
quarterly catch-ups.
We go into lockdown, verysimilar to what we did in Byron
(01:56):
Bay um uh a few months ago.
So every quarter, two dayslocked in a room, small group of
people, and then every month atthe end of the month, there's
an accountability one-on-onesession.
In addition to that, there's anapplication that they put in
and send their figures in.
(02:17):
So we're measuring theirnumbers.
In addition to that, John,you've been very kind enough.
I'm gonna bring those peopleover to your office on the 24th
of March.
We're gonna host them andyou're gonna be in that room
there with me.
We're also gonna show them someof the best EBUs.
You've got the best EBUs in thecountry, John.
Your business at McGrath's anduh it's great.
John McGrath (02:39):
I look, I I just uh Ethan was pumped when he when
he was telling me about ittoday.
And um, I know I've beenencouraging you to kind of
slightly change your formatbecause I think you get on too
many planes and race around intoo many parts of the world, and
I think at some point, youknow, it'd be great for you and
great for your clients too.
Just maybe less is more, and soI'm really delighted that you
might be uh focusing a littlebit more on your uh on your VIP
(03:02):
clients.
Tom Panos (03:02):
And that's so it's it's basic, it's basically less
clients but deeper with them.
We're gonna have 40.
It's only uh you can only havean area and be the only agent.
I don't feel comfortable havingtwo agents that go to listing
presentation against each other,sitting in a room two days at a
time.
I don't feel it's right.
(03:24):
So um wherever you listen toyour podcast, we're gonna have a
link for you to actually umapply.
And I want to let you know youcan't just sign up.
So when you press that link, itdoesn't get take you to a
payment because I also got tofeel like you're gonna benefit
out of it.
And I also got to feel like ifI'm gonna be in the room and our
(03:44):
team and the people we've got,they they they everyone gets on
better if the people are thesame style of people.
And I get the impression, Iknow there are different types
of agents.
You got, you know, uh highflies, and various coaches have
got their own genre and owngroup.
For me, I just want to feelcomfortable that the person's
gonna benefit and they're ourstyle of people, and it's gonna
(04:05):
mean I'm gonna have a quickphone call just to find out a
little bit about you.
We've already given um ourfirst uh 15 spots have gone to
our existing members, so wehaven't actually marketed um as
yet, John.
So you only would have foundout by me and talking to you
about Ether.
John McGrath (04:20):
Yeah.
Tom Panos (04:21):
Right?
So check it out.
It'll be all over my socialsover the next month, stout
January 1.
And Susan has just actuallysent me a link there as well,
and I think the link that she'sgot is called
realestategym.com.au forwardslash black belt.
So we'll make sure that it's onyour Spotify.
(04:42):
But enough selling, enoughselling, because that's what
I've just done.
John and Troy, today's topic.
Like I got asked this morningby a guy that doesn't work in
real estate.
He works in photocopies.
He says, I want to get intoreal estate and become like all
these other thousands ofmillion-dollar agents.
(05:03):
I said to him, What makes youthink there's thousands of them?
And he goes, Oh, well, you'vegot a podcast called Million
Dollar Agent.
I said, Well, it doesn't meanthat there's thousands of it.
And he goes, right, he goes,Yeah, but he goes, I get the
impression most people aremillion dollar agents.
I said, No.
I said, I haven't done thenumbers, but I would say they'd
(05:24):
be lucky to be 90%.
John, you probably would gothink they'd be lucky they'd be
lucky to be 10%.
You probably think to yourself,I don't know.
John McGrath (05:31):
I think I think in the greater you know
environment across Australia,um, whilst you know, you we're
we're used to, I guess, youknow, both our teams and go to
ARIC and you know, sort ofgetting to know quite a few of
the high performing agents.
But I think most agents, thenumber, the stat that I read
once was was like they earn100,000 a year, and that that
might be well be gross, whoknows?
(05:52):
So for sure, there is is mthere's a long tail of of great
potential in the industry.
And I think we're going tofocus a bit on how do we unlock
that potential, or how do youunlock that potential in 2026,
right?
Tom Panos (06:07):
Yeah, so I think a good topic is why do 99% of real
estate agents never write amillion dollars?
And I think what we should dois all do a deep, deep dive, and
look at look at the mindset,look at the traps, look at the
excuses, look at the behaviors,look at some of the skills.
And, you know, essentially, Iknow that we've all had a view,
(06:30):
and I know John, you've beenheavily shaped that a lot of
people uh have got self-limitingbeliefs.
A lot of people have also got aview in life that, hey, I can't
do it, I may sabotage theirsuccess.
Example, I had someone say tome, Tom, I'll write more, but I
don't want to destroy my family.
Or I'll, I'll, I'll, I'll, I'llvarious stories that people
(06:53):
have, which is it's often if Ido this, I can't have this.
It's it's thinking like that.
So, Troy, John, why do youthink most real estate agents,
nearly all real estate agents,bar 1%, never get to a million
dollars in fees?
John McGrath (07:10):
So let's start the conversation with the premise
that everyone can.
And which I think is prettytrue.
You might say I'm from a town,there's only 20 sales a year or
something.
I mean, there might be the oddperson that actually is just not
in a market that would yieldthat.
But most people are in a marketwhere if they had 15, 20
percent market share, they'redoing seven figures in most
(07:30):
parts of of Australia.
So it should be there for uhvery achievable for each and
every one of our listeners.
I think first thing, Tom, isthey don't aim for it, which
kind of leads to the theLinkedIn second question or or
proposition that they don'tbelieve they're capable.
(07:50):
Now, maybe we're talking to thewrong group because most people
that are listening to this dohave a a different set of
beliefs and they do think a bitbigger than the average.
But yeah, my my whenever I'mcoaching people, you know, I'll
say how many sales did you dolast year?
And you know, oh 33.
Okay.
How do you feel about that?
Oh, I think I can do better.
What's your goal next year?
42.
(08:11):
And I say, Well, what why not75?
And then they look at me asthough, you know, like 75.
I say, Yeah, why not 75?
If you can do 32, you can do75.
So that for me in my coachingis often the beginning is trying
to get someone to stretch theirthinking about what they're
capable of.
And then, as you mentioned, theyou know, the concept of
(08:33):
mooring lines, Tom, then try andwork out, well, why is it up
until this conversation have younot believed you can do a
million dollars or 75 sales?
By the way, 75 sales in mostparts of Australia is probably
going to be way more than amillion.
But um, and then then you know,one by one, I kind of snip off
at at at the core, you know,well, I don't want to be more
(08:54):
stressed.
Well, what if what if 75 isless stressful than 32?
Because 75 represents momentum.
75 you can hire a team, 75 youcan do money, spend money in or
invest money in social mediamarketing.
Um, yeah, 75 you can hire, 75sales, you can hire a coach like
Tommy Panels.
I mean, there's so many thingsyou can do as you grow, I do
(09:16):
believe.
So, but you know, it's no goodme believing that.
The person that I'm coachinghas to believe it.
So I think then it's aboutidentifying for the individuals
what is it that holds them back,Troy.
And I I think that belief, um,not thinking big enough, which
is often attached to belief.
I think identity, which isoften attached to belief.
(09:38):
Oh, I'm just not that guy, I'mnot a I'm not a you know, a
great a gung-ho salesman, I'mI'm you know, like I'm never
gonna make those numbers.
When you stop telling yourselfthat self-limiting story and
start asking the question, well,what would it take?
Who would I have to become?
What would I have to do?
(09:58):
And then I can guarantee youthe same person that's writing
32 ain't gonna be the sameperson that's writing 75 sales.
So then we need to try and workout what's the gap.
What do we have to change so wecan get you, Jenny Jones, who's
writing 32, up to 50 or 75 or100, whatever number you want to
pick.
Um, but it ain't gonna be theJenny Jones 1.0, it's gonna be
(10:22):
Jenny Jones 2.0.
So I think that's the kind ofand I th that's the exciting
thing for me is the change isnot the daunting part, I think
it's actually the exciting part.
It's like, you know, who whocould you become if you start
getting more comfortable inuncomfortable conversations?
Who could you become if youstart actually believing that
(10:43):
you are an elite salesman, anelite mother, father, whatever?
So I think Troy, that'll be mystarting premise.
Well, I mean, you you've beenaround the game a long time.
What what are you?
Under Troy?
Troy Malcolm (10:55):
Yeah, sorry, the alarm's just going off here, and
it's probably going off for afew people on this topic as
well, to be honest.
Um, but John, I I 100% agreewith you.
I think um people get into thatmindset that comfort uh is is
where they want to stay.
They're not prepared to dothose things that make them
uncomfortable, to make themgrow.
(11:15):
Most of the time, growthhappens not because of success,
growth happens because offailure.
And so when you go throughthose learning experiences,
you're going to open yourself upto what's possible.
The other thing that I notice alot with uh people that are not
willing to go that next leveland maybe limiting what they can
achieve is the fact, John, thatthey constantly make excuses.
(11:37):
They find a reason not to dothe activity or the work to get
them back in front.
It can be market, it can betechnology, it can be their
database, it can be they're toobusy, they're not busy enough,
the market conditions of aspecific type of product they're
trying to sell.
And so when you take away thoseexcuses and you realize that
there's others in the marketthat are performing, then you're
(11:58):
right.
It's a hundred percent aprocess, and it's a process that
you need to follow and beconsistent with that'll get you
to that next level.
John McGrath (12:06):
Simplifying it too, Troy.
I, you know, I'm I love Hormosyat the moment, Alex Hormosy,
and and I I think he's just gotsome really great, great
concepts.
And one of the yeah, one ofthem I've shared, I think, on
this podcast before, which is ifyou want to achieve greatness,
you need um unreasonable goals,you need a plan, and you need
not enough time.
(12:26):
Yeah, unreasonable goals mean,you know, seriously, I reckon
you've got a better chance ifyour goal is to go from 200,000
to 2 million than it is from200,000 to 400.
Because you're gonna have to dosome serious soul searching and
serious reinventing to getthere.
Uh, and then once you start thethe ball rolling, it gets mega
exciting once you start reallyramping up your numbers.
(12:47):
Um so I think that's really a akey thing.
The other thing he said that Iheard too just a few days ago,
and he said, if you're not ifyou're not making enough sales,
you're either not saying theright things or you're not
saying them in the right way.
So you think about sales, youknow, prospecting, listing,
selling, prospecting, pick upthe phone, anyone can do that,
(13:08):
dial a number, someone answers.
So what do you say then?
And how do you say it?
So what's the energy, what'sthe you know, tonality?
And you can sound like atelemarketer and you won't get
very far, or you can sound likean interesting human being who's
interested in their situationand love to share some ideas
with them, and with some goodenergy attached to it, and all
(13:30):
of a sudden people are going towant to stay on the phone and
talk to you.
Um so I think it's about youknow it's a process.
It's a process.
If anyone listening to thishasn't been prospecting and
decides to pick up the phone foran hour a day, five days a week
for in 2026, right the waythrough the year, and with a
good energy and and a good and agood pitch or a good opening
(13:52):
statement, and you want to do itall day, every day for the
whole year, Monday to Friday,you're gonna double your
business.
I will guarantee you.
But you've got to do it.
You gotta do it.
Tom Panos (14:04):
So I've got a Troy and John.
Murdoch once had sent us avideo at the start of the thin
year to all the managers, youknow, wishing us all the best.
Thank you for everything you'vedone, another thin year.
And then in the video, he says,It's your job as a manager to
get the current people that arestuck unstuck.
(14:28):
And I clearly remember he said,generally speaking, if someone
is at A and they want to go toB, there are normally three
circles that are the blockages.
He says, it's one of three.
And I uh for some reason itjust came up into my mind now.
He said, These are the three.
He said, the first one is it'sa situation.
(14:49):
There's a situation, and thatsituation is causing a block.
The second one is it's anotherperson, an external person.
And the third one is it's theself.
That person has an issue, andthat person needs to change the
view of the way that they lookat things.
And then he went on to say 90%of the times it's the self.
(15:11):
90% of the times he goes, it'sthe self.
And it's your job as a managerto help that person come up with
what is wrong with the storythat they have, right?
What is wrong with it, right?
But then he also did say thereis a possibility that there's
the other two, which is asituation.
And I remember someone askedthe situation, and he he says,
(15:33):
Look, they might actually beworking in something that they
don't love, you know, and thatto me could be an example.
Like we had a salesperson thatwas an inner city person that
lived in in lived inDarlinghurst, and I don't know,
we had them selling printadvertising out in Penrith,
right?
And what happened is as soon aswe moved that person to work
(15:53):
into the city central where theyhad clients that they used to
hang out with, right?
They were that kind of uh um uhthe the demographic suited that
person, right?
And I can I can picture thatsometimes you got you could be
working in it in a wrongenvironment.
That does happen, right?
And there are there are times,and we've got to accept it.
There are, I have a lot of mygym members who talk to me
(16:16):
privately, they wouldn't do itlike publicly, where they say,
I'm so unhappy about thesethings in my office, and it
drains me on a Sunday night.
And there are situations whereyou've got to change the
environment of that person, it'snot suited to that environment.
I do, and I am mindful, this isthis is the time of year that
there is environment changes.
(16:36):
If you notice every November,December, you notice a group of
people start moving and they'relooking at that.
What are your what are yourviews on the with your view on
those three circles?
And and the other with the bigbeing another person, it could
be you've got a person that'snot, I don't know, they're not
supporting you, they're notguiding you, they're not making
(16:56):
you feel happy about yourself.
What are your views on thosethree circles?
Troy Malcolm (17:01):
Troy, over to you and I'll continue on.
I think first and foremost, Tomenvironment is so important.
You've got to be an environmentwhere you don't have to be best
friends with every singleperson in your environment, but
you do have to feel as if you'resupported, you're nurtured, and
you are actually in a kind ofplace that you can do your best
work.
Now, for some people, that's areally large office and they do
(17:24):
have a lot of social things.
For others, that might be areally quiet office, a little
boutique agency where they canjust go about their business,
have a couple of key coremembers that are working with
them on a daily basis, andpeople like that.
Um, the second one youmentioned, situationship and
that kind of environment thatyou see.
Sometimes there is conflict,sometimes there is, you know, uh
(17:44):
in the old days we used to callthem a gorilla, um, you know, a
really big performer thatseemed to dominate the
workspace.
Um, you do get into thatsituation, and sometimes that is
a really bad environment to bein.
And so taking that person andreallocating them somewhere or
getting them to focus somewhereelse can make a big difference.
But Tom, where I always comeback to is a lot of agents right
(18:06):
now, they're stopping going tothe next level because they're
forgetting what really matters.
They're forgetting about thefundamentals of what we do.
They get caught up in tweakingtheir database till it's
perfect.
They get caught up in thescript and the dialogue, or they
need to go and do anothercourse, or they need to listen
to another podcast, or they needto do a social media reel.
When really, when you strip itright back, like John said
(18:28):
earlier, genuinely connectingwith people, having deep and
meaningful conversations withenergy and tonality that really
resonates with them, and beingconsistent around prospect list,
negotiate, sell, you are goingto get to that 1% club very
quickly.
Tom Panos (18:42):
So, John, before we go on, I want to talk about I I
posted a video, uh, posted, itwasn't a video, I posted a post
about a guy who walked slowlythrough a social media advert,
and this actually happened,right?
And I said to him, I said,mate, that looks like you're
doing an ad for some cologne,right?
(19:03):
And he goes to me, mate, hesaid, I spent a whole day with a
videographer doing that video.
And I said, I need you to knowwe get paid to sell a property.
Explain to me how this video,like, do you think this video is
gonna get someone to pick upthe phone and say, I saw the way
(19:27):
you moved in that video, and Iwant you to come to my house and
I want you to list my house.
And do you think it's gonna dothat?
Right?
I said, because right at themoment, you need to get a
listing and make a sale.
Like, what's the plan for that?
Right.
And I think you're right, Troy.
I mean, at the end of the day,if you just have a look at it,
(19:48):
what should we be doing on adaily basis in real estate?
Talking to our next listingthat's gonna come on, that's
called your chase list.
Talking to your current vendor,giving them service and help
them understand the reality ofthe marketplace, and talking to
hot buyers because we get paid alot of money to put deals
together, right?
(20:08):
We get paid handsomely to dothat.
Yet you're right, there are somany other people that move away
from those, you know, threemain conversations.
And I think a lot of peoplewant to be wannabe celebrities.
I think a lot of people sortof, you know, like they lose
track of this whole thing.
John McGrath (20:27):
Yeah, Reese Withersman was talking about
that a few years ago and Ericabout you gotta think who your
audience is, what's interestingto them and what are they
looking to you for, and thencompare it with your output.
I'm I I look at a lot of socialmedia real estate agency stuff
as you guys do to keep a keep atrack on things, and and there's
a lot of people I don't thinkhave ever asked themselves that
(20:49):
question.
It's more about ego.
So I think it's reallycritical.
Just going back to theenvironmental stuff and getting
unstuck too, Tom.
Funny, I yeah, I was coachingsomeone in the last few weeks,
and we yeah, we had a reallygood session and went through
and gave him some advice andstuff.
He rang me um a couple weeksago on the weekend and he said,
Um, how would you deal withthis?
And uh there was some tensionin the household.
(21:10):
And it kind of just remindedme, you know, and it was it
wasn't it wasn't divorce or theterritory, but it was
uncomfortable, and probably bothparties, by the sound of it,
would being irritating, wereirritating each other.
And yeah, so it's funny thatit's not just in the work
environment you've got to look.
You might have issueselsewhere, you might be hanging
out with the wrong people.
Um, you know, your your famousuh saying, I mean, you know, if
(21:34):
you don't want to slip over,don't go to slippery spots.
Tom Panos (21:37):
Um, better one if you don't want to if you hang out
with four dickheads, you'llbecome the fifth.
So you've got to avoid both thedickheads and the slippery
spots.
They're normally they'renormally in the same area, but
generally Totally true.
John McGrath (21:49):
Uh and also, you know, there could there can be
issues, tension, conflict withinthe within the uh the
relationship.
So um, you know, I just said tohim, man, just yeah, no, the
the worst time to try and solvean argument's in the middle of
it.
Um, so you know, try and justwork out what what's what's the
cause of the tension, and thenwhen things are better, the
environment's better, and you'vegot a bit more privacy, have a
(22:12):
productive chat uh about that.
So, yeah, I think it's just umyou've got to look at all parts
of your life and work out what'sholding me back.
Where am I stuck?
Um, where w what are the thingsthat frustrate me, upset me,
um, how do I deal with those?
And and usually the way youdeal with them, you've got 100%
control, you adjust the way youdeal with them.
(22:34):
That's yeah, that's really thekey thing.
You you adjust the way you seethem, you deal with them.
Um, yeah, someone said manyyears ago it's only a problem
because you think it's aproblem.
Um yeah, if you didn't think itwas a problem, it would it
would cease to be one.
And uh, I think that's really,really true.
So yeah, this is the time, youknow, and I know we've still got
plenty of selling to go betweennow and Christmas, and so maybe
(22:56):
I'm referring to over the breakwhen you've got a bit more
personal space and time.
You know, decide who is who doyou want to be in 2026?
What is the stuff you want toleave behind in 2025?
You know, what are the habits,the thoughts, the mindset, the
uh you know, the mooring lines,as we call them, that you want
to leave in 2025?
(23:16):
Because 2026, man, you leaveall that stuff behind in 25, you
tweak your habits, yourprocesses, your dialogue, a few,
you know, little little degreeseither way, you are in for your
best year of your life.
And 2x could be 4x, could be 6xover the next few years.
Tom Panos (23:34):
Johnny, I got off the phone call with Robbie
Christiano, who you've met.
He's an Indonesian guy from uhBrisbane.
Yeah, he's just finished, he'sjust clocked 2 million GCI, been
in real estate for two and ahalf years.
Two million GCI.
I said to him, You're gonna isthat your is that your best?
He goes, It's not finished yet.
I said, What do you mean?
He goes, I'm launching sixproperties today.
(23:55):
And I said, What for Boxing Daylaunch?
He goes, No, no, no, I'mlaunching six.
And he goes, mate, he goes, themarket's hot here in Brisbane,
six properties.
He goes, I go, how many are yougonna sell?
He goes, Well, I've I'll sellall the six properties, like I'm
launching six there.
And then I go, You serious?
He goes, Yeah, absolutely.
And just talking to him, Imean, some simple tweaks with
(24:18):
his team, they were getting theywere struggling with calls and
getting connections.
All it was was a shift, theywere calling random numbers,
very cold lists, outdatedappraisals, and old open for
inspections, and they switchedit up to doing past appraisals,
buyers who are local, startedworking buyers who are local,
(24:38):
started calling neighbors aroundnew listings or recent sales,
whether they're theirs or otheragents, and owners in their
database that they appraisebetween six months and 24
months.
And he says, Man, work startscoming in.
So sometimes it's the approach,and I see this happening a lot.
I see a lot of agents sittingthere, the Manila call center
(25:01):
approach, ringing strangers whodon't want to talk to them.
Wow, we got an owner, they'renot a tenant.
Wow, they might listen to mystory.
I mean, it's better than doingnothing, but not much better.
Like if you look at it, it'snot, it's not significantly
better.
Like calling warmer people,particularly in a world that we
live in now, which I've got tosay, I think John, you've gone
(25:21):
on the do not disturb list.
I saw you do it while we wereon our podcast only about a
month ago.
It takes 30 seconds.
John McGrath (25:28):
Yeah.
Yeah, no, I think I think yeah,that's that world is definitely
changing.
As is, and we're we're notgonna get bang on about too much
today, underquoting, but it'scertainly been in the news, uh,
up and down the east coast ofAustralia, in fact, around the
country.
So um, you know, we're gonna begetting as close to this as we
can to kind of give you as muchguidance, but please don't
(25:49):
delude yourself that it won't beyou.
Nowadays, it's everytransaction, every agent,
whether you do one sale a yearor 250, you are going to be
monitored by AI bots.
They're gonna know every timeyou quote, um, and uh, you know,
you're just in strife.
And it's the greatest change.
(26:10):
Please don't regret it or say,Oh, I can't stand this.
No, this is what the industry'sneeded: transparency,
integrity, uh, openness, uh,accurate guidance, better
conversation because this isgonna lead, Tom, as you know,
better conversation with vendorsbecause you're gonna have that
conversation up front,otherwise, you're gonna be
quoting the wrong figure andyou're gonna be losing all the
(26:30):
buyers or missing all thebuyers.
So I think I think it'll be agreat thing for the industry.
Tom Panos (26:35):
So I don't I think I think Troy and John, you said to
me, John, off-camera once, thereal estate industry needs to
operate in this new world of AI,video cameras, and everything
that's going on with theauthorities with a view that
everything you're doing, likethere's a speed camera every 50
(26:55):
meters.
And the reality is uh they'vegot the ability, and I believe
that this is probably theprocess that a bot is going into
the back end, is having a lookat what price you put it on,
it's then looking at what pricedid it sell for.
And then, I mean, only lastweek there was a lot of agents
right across New South Walesrequested to hand in files.
(27:16):
And I believe those files wereall the properties that there
was a variance of sole price andwhat was on the back end on the
portals, and they've asked forthe files.
Now, you don't have to freakout.
If you've done the right thingand you got a good result,
there's no problems.
They understand that.
What they're looking for is thesystemic, frequent flyer
(27:38):
behavior of people that have anoperating rhythm of quote them
low, watch them go.
That's what it is.
I don't think people have tofreak out if, oh, I'm worried, I
don't know what this is worth.
What if it goes off?
Man, as long as you do thingslegit, right, you've got nothing
to worry about.
Troy Malcolm (27:56):
Totally.
I mean the other thing is, Johnand Tom, during that process as
well, as long as you havedocumented notes and you're
leaning into the process andmaking sure that you're updating
clients, that's what they'relooking for.
Um, you know, we we don't knowwhat the price of a property
will go to and get at day one ofa campaign.
But if it is starting to get alevel of in interest at a higher
(28:19):
level, then we have to have thedocumentation that reflects
that.
I think it's a very simpleprocess.
And those smart agents outthere right now are very being
very diligent with the notesthey're taking, the updates
they're providing, the vendorreports, the way they're
engaging with buyers, becausethey know the process is far
more important than the outcomein many ways.
Tom Panos (28:39):
Well, very true, very true.
We'll we'll make sure that uhwe will use this platform in any
information that we feel thatwe can help, uh, whether it's
education or there's influenceand we've got to nudge people.
We think it's very, veryimportant.
We understand that uh buyers,sellers, and agents form the
(28:59):
three stakeholders in theequation, and transparency
between all three is what it'sall about.
John Troy, thank you.
Great time.
It's that time of the year,that's spring turning into
summer, right?
It's all good.
We'd love to watch a few NRLgames on a Friday, Saturday,
Sunday.
We don't have that, but we cango for walks out there.
The weather's great, life isgood.
(29:19):
We'll see you all then nextweek.
We're gonna best to go right tothe end.
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