Tom Panos - Sunday Night Rant

If you're a buyer, I'm going to reveal 2 hidden strategies to find out if the agent has underquoted you!03:25 – The “Double-Header” Conflict of Interest

I've had multiple agents say to me lately that they want to leave real estate. They're not getting the listings, they're not making the sales, and it's becoming all too hard. If this is you, listen to me carefully… Before you decide to throw in the towel, let's sit back and let's have a serious chat.Because a listings shortage is NOT your real problem.  

How will this impact everyday Australians with variable home loans? Please Share this 

My Clearance Rate: 7/10 sold

Interest rates have had their impact.And I don't know how this is going to play out…My final Clearance Rate: 9/10 SOLD

We were right in the middle of absolute turmoil... Clearance rates plummeted, buyers weren't pulling the trigger, and prices were dropping.Then, all of a sudden, BANG! Prices start going up. It defies logic. How is it possible? We've had 10 rate rises in a row. On Tuesday there's a chance that there might not be a rate rise. There's no decision that's been made. What would I do right now if I was the seller? I'd put my home on the market. There's not a lot of stock. There's not a lot of stock. You'll get good money.My Clearance Rate today: 7/8 SOLD

My clearance rate: 6/6

My final Clearance Rate: 5/8 SOLD*Apologies for not sounding like my usual self. Still recovering from deviated septum surgery. 

The market is showing strong signs of recovery.The rest of Australia is expected to follow in 6 months.Some of my properties have sold for hundreds of thousands over reserve.My clearance rate: 6/8 SOLD

The market shifted in November 2022. It's bottomed, and it's moving up - especially in Sydney. Here is my advice for buyers and sellers in this market. 

How to have your properties sold in this market.And yes, I'm still confident we've surpassed the bottom of the real estate market.Prices are better now than they were last year. My Clearance Rate today: 7/11 SOLD 

100 Clearance Rate today! 7 out of 7. My best result since May 2022. My rant about the RBA The confusing part about borrowing capacity dropping by 25%  Why have prices not dropped further?How was it in your market?

Interest rates are high, buyer energy has changed, and vendors aren't getting record prices. You need the right mindset to survive this market. Inspired by Joe Polish & Dan Sullivan, here are the 10 Laws for Crazy Times:00:34 – Law #1: Forget about yourself, focus on others00:47 – Law #2: Forget about your product, focus on your relationships01:12 – Law #3: Forget about your sale, focus on creating value01:44 – Law #4: Forget about your losses, focus on your opportunities02:11 – Law #5: Forget about your difficulties, focus on your progress02:38 – Law #6: Forget about the future, focus on today03:09 – Law #7: Forget about who you were, focus on who you can be03:41 – Law #8: Forget about your events, focus on your responses04:41 – Law #9: Forget about what you're missing, focus on what's available05:22 – Law #10: Forget about your complaints, focus on your gratitudeLet's make 2023 the year where your dreams become bigger than your excuses. I will be your coach for the next 12 months and guide you using evidence-based psychology. Real Estate Gym doors are now open for New Year intake!

If you're a Real Estate Agent listening to this, Congratulations! You have survived one of the most challenging markets. What's next…?Will there be distressed selling in 2023?Plus, what are the essential KPIs you need for your 2023 Business Plan?I will guide you and be your coach in the Real Estate Gym

We still have a short supply of stock and there are very few signs of distressed selling. What does this mean..? And, the biggest mistake I see vendors make every week - they're giving buyers negotiation power. How?My Clearance Rate today: 6/11 SOLD 

My Advice for Vendors: You can't keep a property on layby whilst you wait for yours to go up. It's called ‘The changeover figure'.My Advice for Agents: Have your pre-auction buyer meeting and your pre-auction vendors meetings. What happens on auction day should not be a shock to your clients. My Clearance Rate today: 4/10 SOLD

Chasing other agents' expired listings is often the best way to get a listing sold quickly. But, to get your commission, you need to know how to protect your position as the outgoing or the incoming agent:01:41 – What are the risks involved with chasing expired listings? Will you get your commission?04:10 – Is it wise for an agent (working on an expired listing) to target buyers introduced by the previous agent?06:51 – If an agent is chasing their commission from a previous listing, how do they prove ‘Effective Cause'?13:25 – All smart lawyers should put 'this clause' in the contract to mitigate the risks21:07 – What people don't know about agency agreements on Ch9 ‘The Block'23:26 – The new stamp duty reform in New South Wales – Is this too good to be true?Jared Zak is the Principal Solicitor of Dott & Crossitt and has more than 15 years of experience in law and finance. *DISCLAIMER: The information provided in this video is general in nature only and for education purposes. The information provided does not constitute as personal legal advice. Tom Panos Pty Ltd does not accept any liability for any decisions made based on the information provided. Tom Panos Pty Ltd strongly encourages you to seek professional legal advice to discuss your personal circumstances.

Real Estate Market Wrap: My best advice for vendors; 'Don't go to the 'casino'. Why December is a great opportunity if you're a buyer. Will the real estate market get worse next year? My Clearance Rate today: 5/10 (50%) 

House 5 sold for $1,568,999.66 over reserve and broke every record on The Block history!The winners Omar & Oz are here with their great agent Aaron Hill - Ray White Sunbury

01:22 - #1. How to convince vendors to 'List Now and Sell Now'02:11 - #2. How have stock signed and ready to sell in Jan 2023  - 'List Now and Launch Later'03:24 - #3. Make your end-of-year summary calls

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'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

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

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

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 meeting11:30 - My predictions in the real estate market for the rest of 2022, as confirmed by the Australian Financial ReviewFor 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 soldWhy 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

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

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 salesThe 6 questions you need to ask every buyer to qualify themHow to negotiate with buyers to extract offersGet 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...

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 risksHow to prevent collusive practices prior to auction dayAnd, 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 habitsYou 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 habitsWhy he uses auctions (even though he is mostly selling units, villas, townhouses)His vendor management processHow 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 committed03:49 - #2. They lack worth ethic07:08 - #3. They personalise things09:41 - #4. They run their life and business based on their feelings11:49 - #5. They have an external locus of control14:10 - #6. They lack self-belief15:28 - #7. They hang out with other loser agents17:34 - #8. They don't factor in failure19:34 - #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 competitor05:43 – The 4 strategies and solutions to combat the hatersRemember, 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 goHow to reframe a negative outcome into a valuable learning experience with your vendorsHow to present your vendor with an offer that is below their expectationsGetting 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 offerGetting VPA with easeDialogue 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)

Here are the best ways to ensure you half your income as a real estate agent by the end of this year:00:28: The AREC 2022 Speaker line-up. Event manager Nichola Byrne answers your ‘Byrne-ing Questions'18:06 – #1. Give your vendors a price at the listing presentation and get locked in.20:09 – #2. Be close-minded. Under no circumstances should you attend any training.21:38 – #3. Hang around with as many losers as possible and read negative news.23:08 – #4. Try to save every vendor's life. Get emotionally attached and rescue them.24:33 – #5. Bury your head in the sand and ignore it. P.S. - The best-value tickets to AREC 2022 is only available for Real Estate Gym members

I insist all the agents I coach and my Real Estate Gym members to start doing at least 2 vendor reports a week and this...

We're about to have our first interest rate rise in 12 years. This is unprecedented for most agents. Matt Lahood (CEO at The Agency) who has over 3 decades of real estate experience and survived a market where interest rates were at 18%, reveals how you can use this to your advantage.03:22 – Conversations you need to have right now around Interest Rates, Federal Election & fast-tracking sellers onto the market06:42 – The ‘2-speed' Pricing Strategy 07:40 – Why the Federal Election is irrelevant to your real estate livelihood 10:26 – What you need to triple down onThe entire training is only in the Real Estate Gym

The biggest problem we have right now is that vendors are explicitly saying, “We don't have to sell today…”Why auction is becoming the benchmark to sell properties afterAfter the Federal Election, there will be a Listings Blitz, and What the smart agents are doing right now My clearance rate: 4/11What was it like in your market?

The party is over. Agents will be making significantly less money unless they grow their market share. It's time to get good, or get out! To balance vendor management with prospecting, here are the essential skills you need:02:40 – Learn how to List-Adjust-Sell03:29 – What is a ‘Low Absorption Market'?05:02 – How agents can get ahead in a ‘Low Absorption Market'?06:00 – Now is the best time to increase your commission fees07:30 – How to balance Vendor Management with Prospecting Join me for weekly High-Intensity Prospecting Sprints in the Real Estate GymDon't hope the market gets better - hope you get better!

We haven't had an interest rate increase in Australia since 2010. Here are my predictions:There will be a price correctionSome homeowners will need to sellIf you're selling, could be risky to wait too long before you buyMy predictions for real estate agents: Agents will be leaving the industryAgents will be making less money compared to last year Agents will be wanting more in their commission splitRemember, don't hope the market gets better - hope you get better!

This is the formula I used to get listings sold when property prices were falling by $200-300K in 1991. It's called 'List - Reduce - Sell'. Watch me role-play the vendor management as I'm training the hustlers at the Josh Tesolin Group - Ray White Quakers Hill.The entire is only in the Real Estate Gym

I'll never forget it. Taylor Bredin once said to me he mostly wants to be known as ‘The Real Estate Agent Who's Not A D*ckhead'

You heard it here first! Book your tickets: https://arecconference.com.au/P.S. Real Estate Gym members get the best rates out there: https://www.realestategym.com.au/

This 25-year-old is on track to 2x his GCI and write $3m this calendar year using the Fanatical Prospecting Model in the Real Estate Gym. Hanan Cawley - Harcourts Coastal is in his 5th year of real estate and in this interview, he reveals the formula he used to write $1m in GCI from Expired Listings as a new agent in a new area.  06:49 – Choosing the right marketplace08:50 – The formula to winning to expired listings 13:20 – Best advice for new agents with zero stock and zero database18:50 – Morning ritual 21:36 – Prospecting: how to make it ELF (effortless, lucrative, fun) and non-negotiable 26:25 – How to close listings against veteran agents37:06 – Mindset 44:47 – How you can totally transform your real estate career in just 90 days These are the strategies Hanan has learnt from being a member of the Real Estate Gym since the start of his career. Find out how you can train with and learn from the top 1% of agents in Australasia: https://www.realestategym.com.au/