Fabian

Otherwise, why have auction conditions in place?

So you see, different bodies collect different data based on who has actually reported their auctions.

I would love to personally see two clearance rates, one for under the hammer and one for an adjusted one on the Thursday morning following the three business days to allow those auctions that passed in to have been negotiated successfully.

That would then tell us the true number and also tell us whether there really is a confidence issue or there's obviously still great confidence in the market to buy unconditionally.

And I'm pretty confident, Craig, you would see the clearance rates jump up significantly if we saw that number.

And I know that because we can see it internally in our business.

Unfortunately, though, it would just give the media a slow news day to report successful results.

So I think they're done with that since that post-pandemic boom.

Now they need a new talking point, don't they?

It certainly does.

And it's very important that agents actually start looking internally at their own clearance rates.

And I think it's going to take time for agents to actually start to get

understand the rhythm and flow of this market and work out what needs to be done, what isn't working.

So there's going to be a lot of fundamentals in this marketplace that play a huge factor, but let's not kid ourselves.

Clearance rates also play a huge part in the way the agent adapts to market change.

A hundred percent.

I tell a lot of the clients I work with, one thing you need to explain to the vendors when you're in that auction listing appointment in general, or whether you want to list an auction, you need to explain to the vendors that in that

post-pandemic boom late last year, the market was meeting the vendors' expectations because a vendor could set the bar high.

We had surplus bidders.

We had record low interest rates.