THIS TOTALLY STRESSED ME OUT 😬

How would you handle that vendor's "friend"?

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SPEAKER_00 0:00

One of the things that stressed me out the most today, absolutely stressed me out. We had a really good offer on a property, and then we had that friend. The vendor who brings the friend along. The friend that's going to save the vendor. So I want to let you know. We got an offer. I think it was around 1-3. The owner was going to take it. The friend turned around and said, No, we want more. We tried. We couldn't. It was a good offer. I actually said to the owner, I think you should take it. The friend said, At that price, I'll buy it. You've heard that before. Well, let me tell you what happened next. We all left. And soon after, the agent said to me, the vendor wants to speak to you. I spoke to the vendor. You know what the vendor said? I've changed my mind. I'll take the 1.3. I said, that's simple. Just get your real estate agent to ring up the buyer. I said, I don't deal with the buyer after the auction. I've gone. I don't have their details. Guess what happens next? The buyer retracts their offer of 1.3 to 1.2. Guess what happens next? I get the friend on the phone. The friend turns around and says, listen, but they made an offer at the auction. I said, no, no, you didn't accept the offer. They don't have to buy it at 1.3. Right? I said, you know what? You're buying it. You said you'd buy it. He turned around and he said, listen, I'll hand you back to the owner. And I actually was so angry and so upset. I said to the owner, I'm letting you know, that friend of yours basically has told you that that buyer's got to buy that property for one three. They don't. They've gone. You said no. But I said, I've got good news for you. He told us in front of you he would buy it. Get him to buy it. Get the agent to get him signed up on a contract. He ain't buying it. How can he buy it? I saw him getting to the car when he drove off. He was driving off in a 40-year-old Mazda that had wobbly wheels. Right? He ain't buying it, right? Um, in fact, I spoke to the agent about an hour ago, and he said to me, Come on, Tom, he's not buying it. So, ladies and gentlemen, I'm letting you know. The market's hard, the market's challenging, and there are no signs that it's going to get better all of a sudden. So, if you're going to bring a friend, bring a smart one along. We're in grey stains, and unfortunately, this auction didn't go ahead today because there was no one registered. And I want to let you know that this was not a single occurrence. Of course, let's not sugarcoat it. We've got a very hard real estate market, ladies and gentlemen. And someone asked me today, is this the hardest I've seen it? No, I think I think it's definitely harder than it was in 2017 to 2019, which was I call a minor correction. It's definitely harder than the short period that we had after COVID, which was a very small correction. I don't think it's as um, I think GFC was worse. Um regardless, let me give you the results. Two out of seven today. Two out of seven today. The best result was a property in Croydon. That uh you can actually see that property on my Instagram account. I've actually put the whole auction there, it sold for about a hundred grand more for around one one million eight hundred and fifty thousand dollars.