Chapter 1: What is the focus of this week's property review?
It's the Real Estate Podcast across every state, city and town of Australia. And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from.
As our weekend continues and I hope your real estate journey across the weekend has been going well and it's a good one on this 21st day of August for 2022. Coming up this morning, because it is a Sunday, we have the Sunday review of news and analysis from the last seven days. And as well as that, we're also appreciative of the feedback that you provide to us.
Now, if you've got any questions or suggestions, don't hesitate to let us know by emailing us to this email address, myrealestatepodcast at gmail.com. Again, that is myrealestatepodcast at gmail.com. We'd love to hear from you.
Coming up tomorrow, we are joined by Paul Ryan, the senior economist from PropTrack, and we're going to be looking at suburbs that have gained the most profits for vendors. Will that surprise? I wonder. Hey, if you're celebrating your birthday for today, the 21st of August, have a great Sunday. On the birthday lineup is Usain Bolt. Remember him? The Jamaican sprinter. Man, could he fly.
And if you're looking for something to watch, a film on Netflix, which I can totally recommend. If you like a dark thriller, it stars Kevin Costner and Diane Lane, who are fantastic in this film. It's called Let Him Go. It is a scary but a really good watch. From first home buyers to property investors and everything in between, every morning on The Real Estate Podcast.
It's the main centre forecast with propertybuyer.com.au. All right, let's have a look at your weather. And I can tell you that it's fine, dry weather right around the country. Good morning to you if you're in Sydney expecting a mostly sunny day. and a high of 18 degrees. Partly cloudy but dry in Melbourne with 15.
Also sunshine with partly cloudy conditions and 21 degrees in Brisbane and in Perth. Also cloudy conditions but dry and your high of 20 degrees. Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's your real estate weekend podcast in review. All right. So now we're going to just go further forward a little bit with your timeline.
So we're still in the first 12 months, the financial, the first full financial year, you working in real estate. how many homes were you able to sell? Okay. So I guess a couple of quick metrics there. I started in October 2020. So October to October, the first 12 months in real estate, I sold 70 homes exactly. And my first financial year, which was just finished in June this year, sold 97 homes.
I think we've sold about 140 odd homes across the board, 140, 145 homes. So So 70 in that first 12 month period and that's starting from nothing. So, you know, the second half of that 12 months probably saw a good 50 or 55. And, you know, the first, you know, the first six months was the harder graft, that's for sure. Okay, so Ben, break it down a little bit.
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Chapter 2: What insights can we gain from the recent property market trends?
I think I've seen a few in, you know, our street at home, but in terms of being a potential buyer, it's really hard, I think, to prepare for that. So I found it really useful, really good to get some tips from James as well on like different auction strategies. So I found it really useful. And what about you, Ebony? What was the reason for you to get along on the night?
I think, like Claire said as well, to gain an insight into what auctions are actually like and what they're actually about and as well as what's involved because I hadn't actually been to an auction before or participated in one as such. So what did you think, Ebony, the biggest surprises for you during the whole process was?
I think the biggest surprise probably was you feel like you need to outbid others, even if you don't actually have the finances for it. And so did you find yourself getting caught up in that whole sort of FOMO thing? Yeah. So there was the mixture of what I would have to do if I potentially went over my budget as well, and then the consequences of that too.
But yeah, I thought I'd miss out on this great property. And then would there be another opportunity or another property like that one? And because it was a mock auction, did it give you some sort of an understanding for people how they do go down that whole rabbit hole and turn themselves into a FOMO and, you know, the hands just keep on going and it drives the price up? Yeah, definitely.
I think it's a great strategy from real estates and auctioneers to actually be having. I'd probably echo what Ebony said and just know your limits. Because I think when we did the mock auction with James, it was quite funny because I think at the start, we all naturally wanted to bid as much as we could to secure the property. And it was almost like, you know, this competition.
And I think for us, it was kind of learning to OK, know what your limit is. Yeah, all the factors and variables at play. So I think it was a really good reality check for all of us.
I mean, if you didn't have this mock auction and the very first auction was an actual live event where you're actually slapping down your own money, your mindset now as a result is a completely different one to having walked into an auction where it's live. Oh, 100%. I can't imagine now if I had gone to my, say, first auction and it was the real deal.
I'm just so glad that we had that chance to do a mock one where we could bid and it wasn't real money, obviously. So definitely took the pressure off. But I think initially for first home buyers like Going to an auction can be quite overwhelming and intimidating.
So I think to be in that environment where it was, you know, it was for demonstration and then to get some tips and feedback from James on different auction strategies, it was so useful. It's the Real Estate Podcast across Australia, seven days a week. Because you come from the hospitality sector, and I find that quite interesting because it's not an easy sector to work in.
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