Stories from the frontline - including the standout Marrickville auction where a vintage three-bedroom charmer raked in $1.3 million, defying the odds in favour of move-in-ready homes.
And I’ll share the results of the day's auctions, insights into buyer behaviour, and even the peculiar antics of a would-be buyer more engrossed in contract pages than the property itself.
If you're curious about the real-life theatre that unfolds on auction day, or just want a few laughs and learnings from someone who's seen it all, this is one episode you won't want to skip.
My Clearance Rate: 6/8 SOLD
Stories from the frontline - including the standout Marrickville auction where a vintage three-bedroom charmer raked in $1.3 million, defying the odds in favour of move-in-ready homes.
And I’ll share the results of the day's auctions, insights into buyer behaviour, and even the peculiar antics of a would-be buyer more engrossed in contract pages than the property itself.
If you're curious about the real-life theatre that unfolds on auction day, or just want a few laughs and learnings from someone who's seen it all, this is one episode you won't want to skip.
My Clearance Rate: 6/8 SOLD
I had a guy walk in today, so the auction was hypothetically, I don't know like, say, 11 o'clock, right, might have been 11, might have been 12, 11 o'clock anyway. Cut a long story short, the auction has started. A guy walks in, passed everyone, walks to the front door the auction's being held outside and he turns around and just goes in. I actually say, sir, please don't go in. There's no one in the house. The auction's going. He goes no one, have a look. I said, sir, you can have a look at the end of the auction. I mean, think about it. There's no one inside the house. Right, he could go in and you know steal things. He said, no, I want to go in anyway, I go over to him. I said, listen, the auction's on, let's just finish in 5, 10 minutes if it hasn't sold. Or I said, even if it hasn't sold, I'll get you through. He turns around and he says, no, I want to look at it now. It's a public auction. I said it's a public auction but it's a private property, end of story. I said you wait, when this auction's finished, a real estate agent will walk you through in the house and you can have another look, okay, or have your first look. He says to me he's going to report me to the government. So I look forward to him contacting the office of fair trading on Monday to tell him that he's reporting me because I wanted to not let him in the house till the auction was finished because there was no one in the house.
Tom Panos:And then get ready for this story gets even more exciting. Property doesn't sell. Well, they then say let's take you through the property. Watch your name, watch your mobile. No, I'm not giving it to you. Like, seriously, what do some of these buyers think? That you can walk into people's houses without giving your details? And he just kept on saying oh, it's a public auction, it's a private property, someone lives in the house, someone's house and, quite frankly, in the end it all got sorted. The vendor says I don't want you in my house. End of story. Anyway, let's get back into real estate results.
Tom Panos:Today I did nine auctions. Out of the nine, six sold. I actually ended up doing seven auctions. One did not, I'll just decline this. One did not sell, one sold prior and one was withdrawn from auction. So yeah, whatever, that is 60 percent. And I've got to say to you that.
Tom Panos:To me, yeah, my favorite auction of the day was a property that sold in marrickville a three bedroom unit in schwebbel street. You can watch that one online. A three bedroom unit that's like 50 years old, right? Nothing flash, right. No brand new, no elevator, just an old unit in an ok street sold for $1.3 million remarkable. But it was beautiful inside, it was nice inside. So it's a case of hey, if I can move in and not spend a cent, I might pay over for it. That's why team don't do what my last auction had, and that is a investment property with tenants that weren't looking after the property and it was an absolute mess and man never sold.
Tom Panos:Because people don't want to go in and renovate, go on other days where. Give me the fixer up, I let me build my dream. Give me the blank canvas. Now they want the ready-made product and I tell you who does well, brand new ones. Because they've got that. You know, builders responsibility to fix things if they go wrong.
Tom Panos:The other thing that I find interesting is I had to delay an auction Because there was a buyer again wanted to go through, have a, you know, final look and I get all that sort of stuff. I understand it and then ends up reading the contract for around five minutes. I Don't even think the person knew what they were reading, because when I asked them I said can I help you in any way? Would you like me to steer you in the direction of what you want to see? It's just flipping through Like he's reading some boating magazine. I've never know. I said boating magazine. So that guy got upset as well and he didn't bid. That's the there's. No, he didn't even register, he didn't even register, he did not even register.
Tom Panos:So yeah, and I've got to say to you, like, if you're about to put a property on the market and it's an investment property, I honestly think you're gonna get far more money for it. If the tenants aren't really Meticulous in the way they keep it is that you know you style it. Put it in there, I mean. Or give an incentive to your tenants to actually keep it clean during the Marketing campaign. Give them, you know, half a week's Rent discount for the whole campaign. Each week they only pay half the rent or whatever, because you'll get it in your self-price. Or if you, you know, decide that you want to sell it with vacant possession and Actually have it playing, I would go in and style it, you'll get more money. So, team, that's the story. Anyway, six out of nine, next week is really the last week of auctions before Easter. I don't expect there to be any stock in Easter. Then we're gonna have lower volumes because you've got school holidays, easter, anzac day, that three, four weeks a bit of a funny period and then what you'll find is you'll get another run of auction campaigns Happening from, you know, around mid to late April, right all the way through to Jude. So, team, that's the story.
Tom Panos:Good to see you all, and I'm obviously very, very happy today because you know, those of you that followed me on a daily Basis know that I had a cancer test yesterday and it was all clear. Of course I'm always mindful of it. I've had cancer three times in my life and I'm just over the moon that my story hasn't gone as per what the prognosis Said. It would be with my diagnosis and Very, very happy. Of course, I still, you know, have a little bit of sadness and I don't. I no longer have survivors remorse. I had a bit of survivors remorse with the death of my brother, my young brother, who was my best friend and he only had cancer once and died very quickly and I'm still gutted but I don't have survivors remorse anyway. Team Signing off.