Heated Debate on Underquoting: What’s Legal, What’s Not | Tim McKibbin, CEO of REINSW
Send us a textUnderquoting in real estate remains a persistent challenge despite years of legislative attempts to address it, with the REINSW CEO, Tim McKibbin, joining John McGrath and Tom Panos to unpack the legal and ethical dimensions of property price guides. The discussion explores whether underquoting actually benefits vendors or merely creates disappointed buyers who waste time and money.• The offence of underquoting is representing a price that's less than the agent's estimated selling price• Agents must work within a maximum 10% price range when quoting to buyers• If a vendor rejects an offer, the quoted price cannot be lower than the rejected offer• Agents can adjust price guides during campaigns as market feedback comes in• The obligation to represent accurate pricing rests with the agent, not the vendor• Poor industry education contributes to pricing issues with 80% churn rate in NSW real estate• Serial underquoters damage the industry's reputation and create emotional distress for buyers• Technology may play a role in monitoring compliance in future regulatory approaches• Transparency and integrity are essential for rebuilding trust with the public
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59:57
Underquoting, Overpricing & Vendor Conditioning
Send us a textUnderquoting is under increasing scrutiny in Australia, with regulators cracking down on misleading pricing tactics. In this episode, Tom Panos, John McGrath, and Troy Malcolm dive into what underquoting really is, why it happens, and how ethical agents can avoid it.They explore three common pricing pitfalls: lack of product knowledge, deliberate deception, and good agents being pressured by dodgy competitors. More importantly, they offer real-world strategies—like early buyer feedback, honest price conversations, and aligning vendor expectations transparently across a campaign.Troy discusses how buyers now use AI to do their own market research, making deception harder than ever. John McGrath reinforces the need for radical transparency, stating, "We don’t condition, we don’t make up buyers, we don’t make up comments."With Tom reporting a strong market and a recent 100% clearance rate, this timely episode provides essential insights for agents who want to stay ethical—and competitive.
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31:54
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New Financial Year, New You!
Send us a textAs the financial year rolls over, it’s the perfect time to review what’s working in your real estate business—and what’s not. In this no-fluff conversation, we dig into the strategies that set top performers apart.High achievers know the value of honest self-assessment. How strong is your listing presentation? Many agents rate themselves a 5 or 6 out of 10—risky business when others are presenting sharp, persuasive pitches that win listings. We show you how to spot weaknesses and sharpen your delivery through practice and polish.Tech is another game-changer, especially AI tools and dictation that boost efficiency. Instead of getting lost in too many options, pick one or two tools that save time and help you stay connected with more clients, without losing the personal touch.Knowing your numbers is key. By breaking down last year’s presentations, conversion rates and lead sources, you’ll spot what to double down on. “Volume negates luck”—a solid pipeline protects you from the ups and downs.Finally, what’s your “one thing”? The single skill or habit that, if improved, would level up your business more than anything else. Whether it’s managing vendor expectations, pushing through call reluctance, or nailing your pitch—committing to that focus for the next 12 months will be a game-changer.These next 30 days will shape your spring. Ready to make this your breakthrough year?
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World Class Buyer Work
Send us a textThe forgotten goldmine of real estate success isn't found in another listing presentation or door-knocking session—it's hidden in plain sight within your buyer database. Tom Panos and John McGrath unpack one of the most overlooked opportunities in real estate: buyer servicing. While most agents are fixated on listings and door-knocking, the real leverage lies in your buyer database—and chances are, you're barely scratching the surface.You’ll hear why top agents aren’t just working with 5–15 buyers—they’re nurturing 40–50 qualified ones at any given time. John McGrath explains how strategic buyer work leads to listings, referrals, and stronger sales outcomes: “Buyers become sellers and influence whether a property actually sells.”Tom and John break down the practical tactics elite agents use to dominate with buyers:How to conduct meaningful buyer interviewsWhy recommending a competitor’s listing can actually boost your brandHow to use team huddles and calendar planning to maximise buyer conversionsThey also dive into the mindset shift that makes all the difference: approaching buyers with authenticity and an abundance mentality. It's not just about transactions—it’s about trust, loyalty, and long-term wins.As Tom puts it: “Without a buyer, nothing gets sold or settled.” If you’re ready to future-proof your business, this episode will give you the blueprint.
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Dumb Things Agents Do on Social Media and What’s Happening with Agent Fees
Send us a textIn this episode, the trio unpack the highlights of AREC 2025, noting the electric atmosphere and standout sessions, particularly Will Guidara’s keynote on meaningful engagement. They then shift focus to social media, examining the fine line between genuine personal branding and ego-driven content. The trio critique common trends on platforms like Instagram and TikTok and offers practical tips for agents to create authentic, value-driven content. The episode wraps up with a discussion on defending real estate fees and sustaining a value-based approach in a competitive market.
New Zealand