7 figure Attraction Agent
Tom Panos interviews leading real estate attraction agents. These agents share their strategies for writing 7 figures year after year. Simple, powerful and effective - you can apply these tips to grow your real estate business today. For more FREE tools visit: www.tompanos.com.au
7 figure Attraction Agent
The limitations of the 5% deposit 🗞️ Real Estate Market Wrap
00:00 – Important! Know the limitations of the 5% deposit, and check your monthly repayments first!
02:16 – Why the government is making the housing crisis WORSE
03:18 – A buyer tried to punch me because he didn’t win the auction
04:40 – Global market
My Clearance Rate - 9/11 SOLD
If you are a buyer that is rocking up to buy a property now with the 5%, I want to let you know you gotta check that out with the solicitor before the auction. It happened today. A buyer rocks up, buys the property, and says, I'm gonna use a 5% deposit. Yeah, you can use a 5% deposit, but when you go to an auction, it's a 10% deposit. Just because ALBO has said you can buy property with 5%, you still need to get the approval from the other party during the week if it's a Saturday auction, right? Man, just like get your solicitor to speak to the vendor solicitor and say, we're coming to bid on a property, we're only going to be using 5%. Most of the times they agree. They get a letter and they say, we agree that you can use 5% if you're successful. There's no question about it. The 5% scheme that kicked off on the 1st of October is having an impact. No question about it. But like I said on a social media post I put up, I don't believe that if you're scrimping to get 5%, I don't think you should be buying a property. I think buying a property at 5% deposit and then running around to pick up stamp duty and all the other little, you know, costs involved, solicitors and all those other expenses, cost of purchasing real estate, it adds up. In the old days, we'd save up 20%, you'd buy a property, and you'd still have a life. I'm letting you know that I'm not trying to turn people off that have got a 5% deposit. But what I am saying to you is be very mindful on how you're going to be able to afford the loan repayments. Luke Moroni says, go government inflating prices. And in fact, I'll go as far as saying, I'll go as far as saying that Anthony Albanese is making the property problem and the housing issues Australia has, not better, worse. I believe that we are at a period of time, right now, we will look back at the end of 2025, 2026, where we worked out who owned real estate and who actually will never buy real estate. That's what I'm saying. And the reason I say it is think about this simple thing. If you were to borrow even$1.4 million to buy real estate, and that's what you've got to borrow in a lot of places now, right? Your loan repayment is over$8,000 a month. Not one month, not two months, every month. So be mindful of it. Now, ladies and gentlemen, today I nearly had a buyer punch me out. A buyer walked away from an auction angry, screaming at me for one simple reason. They didn't buy the property. They didn't buy the property because they got outbid, and then as I walked to my car, he started. He said, You guys are pushing the prices up. Now listen to him, and I told him, and I want to tell all of you that actually associate real estate agents as the driver of housing problem issues in Australia. I said to him, blaming me for the price that that property sold for, which obviously upset him because he didn't get it, would be like blaming Tim Bailey, the weatherman, for the rain. It would be like blaming the Uber driver for the traffic. Get real. Real estate agents slash auctioneers don't drive the markets up. They work in the markets. Next thing I want to let you know. I've just spent three weeks touring Europe doing real estate conferences. Right? And I've got to say to you, I left, by the way, I'm pretty knackered because I actually landed at 7 a.m. yesterday and I had 10 meetings yesterday, right? As soon as I got off the flight, then I had a full day of options today. It just doesn't stop. And I've got to say a lot of people have been asking me because they saw me on video the other day flying in. Oh man, don't you get tired? Of course I get tired, but I've got to tell you, I travel with a blender and I make sure that I'm eating well, and I travel. I'm away 200 to 250 nights a year, and I have been for 25 years. How do you keep high levels of energy with so much travel and having to sleep outside of your bed three or four nights a week? Very simple. You go to bed early, so you sleep well, you make sure that you're eating well and you're not eating what they give you on planes, carry with a USB blender, throw in some fresh fruits, always eating well, and most importantly, you got your Brooks running shoes there, and you run every day when you are out of the country, and you run every day when you're traveling. And I work out every day, nothing changes. So, team, I'm also gonna tell you that I'm so glad, I'm so glad that it appears that Gaza war is come to an end. Because I've got to say to you, three weeks away, and I've been in Europe two months ago, again, I get to see a lot of places. I've got to tell you, ladies and gentlemen, Australia's the greatest country in the world. And I don't say that with bias because I live here. I say it because I witness what other places are like. I want to let you know, the reason why I'm so happy that that war has come to an end is we can start enjoying our own country, right? And listen, protesting is something that is considered a democratic thing. People have opinions, but I've got to tell you, to all the people that have been spending lots and lots of weeks protesting for a couple of years now, the good news is you can go off and start enjoying Bondi Beach, you can start enjoying the shops, you can start having a good way to spend your weekends in this beautiful country, and it's a great country for the following reasons. Number one, whether you like it or not, in the world rankings, we have got three cities that are considered top three livable cities in the world. This is a survey that's not done by Australians, it's done by a referee that is on neutral ground. Three cities in the top ten. Team, do you understand? Number two, I've had cancer four times. I've had a lot of chemo and a lot of radiation. I've paid zero. Do you understand that? It's a good country. It's a good country because we've got a very, very high baseline of social services versus other countries. The other thing is we've got great public services. Our education, mate, they come from all over the world to study at our universities. Team, political stability. Listen, we might mop and have a laugh at our politicians, but they're nowhere near anywhere corrupt that you see around the world. We've got stability in government, we've got stability in public service. Team, we've got access to the best stuff in the world. I've got to say to you, we should be grateful. And if you're a person that all they want to do is whinge about this country, I've got good news for you. You don't have to go. You're not a tree. You can pick up and leave. Team, this, my friends, is the greatest country in the world. Let's embrace it, let's love it, let's enjoy it. In addition to that, before I leave here today, ladies and gentlemen, I just want to say to you one final thing, and that is even though we've got interest rates going down, even though we've got government grants, even though we've got massive migration, it all looks good on real estate, but I've got to tell you, the signboard company VFX had its record weak last week. Why is that important? Real estate signboard companies like VFX are very good indicators of what's happening with stock levels. And I've got to say to you, hey Carolyn, I've got to say to you. So on the one hand, I'm letting you know we've got great demand and there's an appetite for a lot of real estate around the country. But on the other hand, I'm letting you know the supply's coming in as well. And I think that is what will probably stop the market going absolutely crazy. Anyway, team, so good to be back home.