7 figure Attraction Agent

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Today, I called 4 auctions and sold 2. Last week, it was two from two. 
Buyer activity is improving, but rising stock and the threat of further interest-rate increases could kill the momentum.
My advice to sellers: if you have a qualified buyer today, be very careful about losing them over another $20,000. Their finance approval and borrowing capacity may look very different in 90 days.
And for first-home buyers, waiting for prices to fall could backfire if your borrowing capacity falls even faster.
The market may be showing signs of life, but rate rises could stop the recovery before it gets going.

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Victoria’s auction rules are changing, and agents need to understand exactly what changes in practice.

In this session with REIV CEO Toby Balazs, you’ll learn about:
The new Property Price Statement
The seven-day reserve disclosure requirements
What happens with pre-auction offers
When a private sale can become a fixed-date sale, and 
What vendors can and can’t do with their reserve on auction day.

You’ll also get practical guidance on paper trails, compliance, vendor bidding, offers prior to auction and the scenarios most likely to catch agents off guard.

Resources:
- Real Estate Institute of Victoria (REIV)
- Victorian Consumer Affairs (CAV) Guidelines and Resources

**Disclaimer:** This content is for general educational purposes only and does not constitute legal, financial or professional advice. Information and opinions were current at the time of recording. Please verify all requirements with Consumer Affairs Victoria, the REIV or a qualified adviser before acting. To the extent permitted by law, Tom Panos Pty Ltd accepts no liability for any loss arising from reliance on this content.

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Learn how to protect property transactions in a tougher market. Jared Zak explains the tenfold rise in buyer defaults, the risks of buying before selling, subject-to-sale and sunset clauses, deposit flicking, and a FREE AI contract review tool: https://www.dottandcrossitt.com.au/services/first-review

This is essential viewing for agents who want to reduce risk, protect clients and do the right thing.
00:00 – Introduction and market overview
02:17 – Why more property deals are falling apart
03:45 – Buyer defaults have increased tenfold
04:40 – What happens when a buyer defaults?
06:01 – The risks of accepting a 5% deposit
07:17 – Can an auction sale include a cooling-off period?
09:47 – The dangers of buying before selling
13:15 – How subject-to-sale clauses protect buyers
14:55 – How sunset clauses protect vendors
16:34 – The risks of chained property transactions
21:03 – What is deposit flicking?
24:38 – Who is liable if the deposit disappears?
25:52 – Free AI tool for reviewing property contracts: https://www.dottandcrossitt.com.au/services/first-review
28:35 – Victoria’s new auction rules from October 1
32:53 – Falling sales volumes and the industry-wide impact
34:39 – Compliance is crushing agent productivity

Jared Zak is the Principal Solicitor & Founder of Dott & Crossitt. He has around 20 years of experience in law and finance.

This is sponsored by LocalAgentFinder

*DISCLAIMER: The information provided in this video is for educational purposes only and does not constitute personal legal advice. Tom Panos Pty Ltd does not accept any liability for decisions made based on the information provided and strongly encourages viewers to seek independent professional legal advice tailored to their specific circumstances.

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01:00 — Why buyers should get finance approved now
02:01 — Australia’s housing shortage
03:28 — Could two rate rises trigger a recession?
04:33 — Agents are leaving the industry
06:06 — Marrickville sells $500K over reserve
07:13 — Burwood also sells over reserve
08:28 — Has the market stopped falling?
09:07 — The truth about collapsing auction volumes
11:27 — Are auction bookings finally returning?

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It's Super Saturday, and I conducted zero auctions!

Five months after the budget, the warning signs are everywhere: developers are going broke, housing supply is collapsing, first-home buyer activity has fallen, and property volumes are down 25–30%.

0:46 — The government must confront the consequences
1:16 — Why first-home buyers aren’t benefiting
4:04 — Banks sound the alarm on housing supply
5:42 — Why confidence in auctions has collapsed
6:22 — Withdrawals and the prospect of more rate rises
7:59 — The industry’s real concern is volume
8:42 — The next interest-rate decision

Plus, this is the deposit scheme the Government doesn't talk about: The 2% Deposit Scheme