Tom Panos Rants

It's not WHAT vendors want - it's WHY they're selling that really matters. 

And my advice for agents who are doing it tough in this changing market

The Script & Dialogue I used today to get a vendor to accept an offer that was $50k short of the hope-to-get price. 

Plus, Ray White head office share with me their stats and insights on buyer sentiment. 

My clearance rate: 4 (possibly 5) out of 10 SOLD 🔥 

What was it like in your market? Comment below...

What’s different about this market downturn? 

When there is a long-term drop in real estate, you normally see it aligned with unemployment. But that’s not the case in this market where there is a skills shortage. This is why there are almost no signs of distressed selling.

The uncertainty is over. Right now, buyers and sellers are transacting.

My Clearance Rate: 6/11 SOLD 🔥

What was it like in your market? Comment below

I said this 6 months ago, and now it’s official 🗞️ 

The rate of increase in interest rates is overtaking the rate of decline in property prices.

In this current real estate market, buyers have roughly a 25% decrease in borrowing capacity (all other things being equal).

The biggest problem buyers have right now is not the price of the property - it’s that the bank is not lending them the same amount of money they previously would have approved.

My Clearance Rate over the long weekend: 4/8 SOLD (50%)

Market wrap: If you’re looking to buy at the bottom of the market - your time is running out... 🏃 

My clearance rate today: 7/9 SOLD

• 01:47 - Roles and responsibilities of team members (agent, admin, associate)
• 04:34 - When should you hire additional team members?
• 08:20 - Agents tell me this happens when they put on an assistant…
• 09:44 - 5 things to cover in every team morning meeting
• 11:30 - My predictions in the real estate market for the rest of 2022, as confirmed by the Australian Financial Review

For detailed coaching on how to structure your ideal EBU (effective business unit), login to the Real Estate Gym

Real Estate Market Wrap | My clearance rate today is: 5/7 sold

Why I think the RBA will be conservative with interest rate rises leading up to Christmas. 

And what happens to people who try to pick the bottom of the market 🤦‍♂️ (I’m the worst of them)

Every day, buyers are being re-rated which means they may have less purchasing power.

This is the message you need to send to your current and future vendors to get your existing stock sold and to fast-track sellers onto the market.

And for the record, I've been harping on about this for the last 3 months 😛

Click here to access the News article

To access the training on The ‘Re-Rated Buyer’ call to fast-track sellers in The Changing Market Series, login to your Real Estate Gym

You may struggle to make your ideal number of sales unless you have a solid grasp on buyer management. 

From my coaching sessions with some of the top agents across Australia, I've identified the key steps for servicing buyers, and extracting offers from buyers in a changing market:

• Buyer management checklist: What the best agents are doing to create sales
• The 6 questions you need to ask every buyer to qualify them
• How to negotiate with buyers to extract offers

Get the full training on Buyer Servicing in 'The Changing Market Series' course. Only in the Real Estate Gym

Where I think the Reserve Bank of Australia has performed poorly. 

And the Winner of the Vendor Management of the Year Award goes to... 🏆 

My Clearance Rate: 8/12 SOLD

What do you do when the neighbours try to sabotage the sale of the property? 

As an agent, it is your responsibility to mitigate potential legal risks starting from day one of the campaign. 

Jared Zak, Principal Solicitor and Founder of Dott & Crossitt reveals:

• How agents and vendors can resolve neighbour disputes without the intervention of a solicitor 
• Essential questions to ask your vendor upfront to identify and mitigate legal risks
• How to prevent collusive practices prior to auction day

And, I share my best advice on how to handle hecklers at an auction ;) 

Jared's advice is crucial you're running an auction campaign, and it can save you the heartache of seeing sales fall apart at the last minute.

Connect with Jared Zak at Dott & Crossitt



*DISCLAIMER: All content featured in this podcast is for educational purposes only. If you are a real estate agent seeking legal advice, please contact 'Dott & Crossitt' (or other solicitors) in relation to any particular matters you or your real estate organisation may have. Tom Panos Pty Ltd will not accept any liability in respect of this communication. 

It’s clear - buyers are anxious about the upcoming interest rate rise. My clearance rate today is 3/6 sold. This is the lowest number of auctions I have conducted on an opening Spring day in recent memory.

Here is the most important thing you need to do if you’re an auction agent wanting to get stock sold…

I don't think we will have frenzied selling in Spring... but let's see!

My clearance rate: 4/11 SOLD

Here is my real estate forecast: We are heading towards the end of this real estate market correction. These are the 4 factors that will influence and dictate how close we are to the bottom of this real estate market cycle.

Bookmark this to see how accurate my predictions turn out to be. 

My Clearance Rate: 8/9 SOLD

Inspiring story! Around 5 years ago Ryan Houston was a plumber. Today, this Real Estate Gym member is writing $1m in GCI and building incredible personal wealth as a property developer. If you've ever considered how you can balance real estate sales with property development, Ryan reveals all: 

05:45 – Project marketing vs traditional real estate
09:55 – How to build personal wealth as a property developer
17:56 – How to balance real estate sales and property development
18:33 – Winning rituals and habits

You can learn from and train with the top 1% of agents like Ryan Houston in the Real Estate Gym

Incredible success story! When Amit Nayak arrived in Australia, he worked as a kitchenhand. Today, he is the Partner & Sales Agent at McGrath Parramatta. 

Amit has sold 200+ properties in the last financial year, writing $3m in GCI. The average sales price in his market is $780K. 

In this interview, Amit reveals:

• His systems, processes and habits
• Why he uses auctions (even though he is mostly selling units, villas, townhouses)
• His vendor management process
• How he uses Pest & Building Inspection Reports to make the sale frictionless 
• How the Real Estate Gym helped him fast-track his career

00:17 - #1. They're interested, but not committed
03:49 - #2. They lack worth ethic
07:08 - #3. They personalise things
09:41 - #4. They run their life and business based on their feelings
11:49 - #5. They have an external locus of control
14:10 - #6. They lack self-belief
15:28 - #7. They hang out with other loser agents
17:34 - #8. They don’t factor in failure
19:34 - #9. They suck at prospecting


Join me for our weekly Prospecting Blitz in the Real Estate Gym

As the market gets tougher, agents are starting to play dirtier. They're attacking their competitors and spreading lies.

In fact, I’ve had several agents contact me lately, who have become quite distressed after their competitors have been slagging them off in the marketplace. 

This is the advice I gave on how to handle the haters…

00:29 – The psychological profile of an agent who attacks their competitor
05:43 – The 4 strategies and solutions to combat the haters

Remember, no one ever attacks someone they consider irrelevant.

To have me as your coach 24/7, login to the Real Estate Gym

Let go of this addiction to rescue them. You cannot control the market. There are 2 prices you need to give your vendors... 

Plus, what I predict will happen to the #realestatemarket in September.

My clearance rate: 5/10 SOLD (50%) 

 Scripts & Dialogues are the truth told efficiently. Here are 13 of the most brilliant, tried and tested one-liners to use in a changing market:

• How to negotiate your commission and get the listing signed in one go
• How to reframe a negative outcome into a valuable learning experience with your vendors
• How to present your vendor with an offer that is below their expectations
• Getting your vendor to accept a lower offer (that is a good offer or market value)
• What to do next when your vendor won’t accept your offer
• Getting VPA with ease
• Dialogue I use at auctions to get the buyer to increase their own offer. This works even when there is 1 buyer registered and even after I show them the vendor bid (can be used at auction and in private treaty)