Latest / The Follio Property Podcast / The Biggest Mistakes Buyers Make When Purchasing a Property | ft. Corey Adamson

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The Biggest Mistakes Buyers Make When Purchasing a Property | ft. Corey Adamson · The Follio Property Podcast

• 0:00
  What's the top mistakes you see from a buyer's perspective? It's a touchy subject. No one wants to overpay for things. I completely understand that. Why isn't it a big thing in Western Australia? In every hot market in Australia, even regionals, Ballarat, Geelong, Bendigo. I hope I'm not saying anything that'll get me in trouble. Western Australia is a scared to compete at auctions. It's daunting. That's what I mean. Clean off a 30-day settlement.
• 0:22
  What's that worth? I had to go in with an unconditional offer. Your first offer is your best offer. So often. Real estate agents don't do anything in a rising market. There is more agents registered in WA right now than there are listings on the market. You can't sell a house without a strong marketing campaign. Do you call bullshit? Made that decision. Sell it, move on. That's good advice, actually.
• 0:47
  You're listening to the Folio Property Podcast. I'm Rhys Beddle and I'm here each week with my co-host, Lachlan De La Hunty. If you're enjoying the podcast, do us a favor, hit like, subscribe and leave a comment so we can grow the channel and bring amazing guests like the man returning today, Corey Adamson. Welcome back. Can't believe I wore the same suit.
• 1:08
  Someone may think that we filmed back-to-back episodes here recently. We would not do that at all, Lachlan. So, yeah, welcome back a month later. Thank you. It's good to have you on board again. I think last episode we had you in, we were really focusing on a bit of a Perth market update, some hotspots, both from a home buying and an investment standpoint. Lachlan's favourite phrase. Yeah.
• 1:29
  hot spots. But what we thought would be, you know, really resonate with our audience was getting you in to kind of pick your brain from a real estate agent's perspective and a seller's perspective as well. And buyers. And buyers, yeah. Up against you every week, right? So what's the games? What's the tricks? Yeah, absolutely. I mean, like, for a seller, what's the first thing they should be focusing on in terms of getting maximum gain on that sale?
• 1:52
  If I was half joking but genuine about it, paint your house. I've been saying this for years. I think for such a small outlay, whether you do it yourself on a weekend or you get someone in, paint your house the brightest white you can, change your lights. I know that warm lights are great when you're living there. Cool lights make the property as bright as possible. The difference that we see in the market, especially in a wintertime, Perth it doesn't matter too much, but...
• 2:21
  Walking into a freshly painted bright house, people love it. They can then project what they want to and they'll paint this wall, they'll do that. But coming into a property, which funny enough is how I believe I've bought two properties at undervalue, they were both painted yellow and a horrible yellow and it just turns people off straight away. And people sometimes find it hard to visualise what it would be. All the time.
• 2:46
  And that's probably your job as a selling agent, working with the seller, is to take away any little elements of doubt. And in this market where people are paying top dollar, there's no hiding behind that, people are okay to pay top dollar, they don't want to come in doing work to a property, unless they're looking for a renovate, that type of thing. But for the most part, if you've got a nice painted house, carpets are either new or clean, and the yard looks decent...
• 3:12
  happy days. People will pay you good money for that. And I think for the sake, you know, you could probably knock out all of those things for five grand if you're paying someone to do it. Yeah. It can equate to a lot more money.
• 3:23
  What about if there's a tenant in there? Do you think it's pivotal to get that tenant off the lease before you sell it or selling it with the tenant? I don't love selling properties with tenants. And it's not that it's detrimental to the price at all. When you're relying, and I don't want to sound insensitive here...
• 3:42
  Like that tenant, that's their home, right? If I'm an agent and we like to do six opens in the first two weeks for our campaign, if you're a tenant and you're still working and you're getting no benefit from this at all, and you've got an agent there saying, can I open this property six times, let alone two times,
• 3:58
  It just makes it harder. So, you know, and believe me, if there was a way that you could accommodate the tenant and it would be great, happy days, it's probably not going to change the price of it all. It just adds one more obstacle. The other...
• 4:15
  And you're not guaranteed how the tenant's going to present the property. Like I said, there's no natural incentive for them to make it look nice. And typically staging is a huge flavour at the moment. Where do you sit with that? And it's obviously difficult to stage a tenant or property. So the other part of the tenant... Can you stage a tenant or property? No, you can't stage a property that you're living in for the most part. Anyways. But the other part with the tenant, so much of the market right now is buying to live in that property, right? Unless you're, you know, what you do and you're dealing with these investors...
• 4:43
  So much of the stuff that I'm buying is people that will pay good money for it because then they want a 30-day settlement so they can actually move into this place. In terms of staging, I love staging if the property is vacant. I really don't like selling vacant properties. I find people don't like that when they walk in and they just see a box. It's empty. And again, it goes back to their imagination. Yeah. Is that a kid's room? Is there a single bed there? Is it going to be a double bed there? Exactly. Yeah.
• 5:07
  For the most part, though, for the properties that we sell, which is a lot of well-loved family homes, I do think there's some value. As long as your furniture is decent, it looks quite nice, I still think there's value in that narrative that, well, you've lived here for 20 years. This is your furniture. Not every house has to look like a brand-new show home. If people walk in, there's a reason that these people have lived here for 20, 30, 40 years, and they haven't done it because they hate the house. They like it. They like the location. They're not.
• 5:35
  And I find buyers seem to resonate with that as well. Yeah. What about mistakes? Like what's like the top mistakes you see from a buyer's perspective? From a buyer's perspective right now, and it's a touchy subject, but really not going in with your best offer or at least a strong offer. You know, we use a system. It allows us to rank the offers in there so the buyers can always see where they are. But as a buyer,
• 6:03
  you are relying on someone else's representation for you. So you're not guaranteed a counteroffer. You're not guaranteed somebody telling you where your offer needs to be at. If you then see a property and you love it, and I've been in this situation as a buyer where you make an offer, then you get a call from the agent and he says, oh, sorry, they accepted this other offer. First thing the buyer says, well, where was it? I would have paid more for it.
• 6:29
  And I get that and we try our best to give that opportunity every single time. But I'm talking as a broad spectrum from other agents as well. A lot of agents won't. And a lot of vendors don't actually want that depending on their situation. Once again, as I said, a lot of people are selling to get into properties. A lot of vendors are only selling to fund the other property, which they're at risk of missing out on if they don't act fast as well.
• 6:56
  So just to eradicate it, go in with you. No one wants to overpay for things. I completely understand that. But do your research. Come up with a number that you like and the way that I've always done it. It's a number where if I didn't secure that property, I'm actually okay with missing out on it. I'm not going to sit there and go, I should have paid an extra $5, $10, $15, whatever it may be. What about on the flip side in terms of you speaking there on the price point?
• 7:21
  Sellers' demands, do they often overprice when you're dealing with them? Or is that part of your role to set, or not just your role, but as an agent's role, to set the realistic expectations?
• 7:33
  I think that's our only part. If you're really breaking it down to it, what are we there for? We're there to market the property. That in itself is going to help it drive the price as high as it can and then to deliver that feedback to the vendor. Once again, the system that we use allows us to accumulate all the offers so then we can actually show that to the vendor and there may be a range from it. And stepping away from that, I think this is...
• 8:01
  myself maturing as an agent and being in this, it's not my fault if somebody wants to write a low offer. That's just where they see value at, right? And the vendor has an obligation, has a right to know where that is. I'm not saying that that's going to get the property, but at least they know where it is. My job then is to get that guy from his offer, which is low, up to a standard where the vendor is going to be happy or have him compete against other people and put the price up that way.
• 8:30
  Yeah, it's well said. And that is your job, right? You represent the seller. I think buyers forget that. You are paid by the seller. If you're going to pay someone to do a job, you pay Bob to cut your lawns. You expect him to cut your lawns. If I'm paying Corey to sell my house, your job's not to be nice to the buyers. Your job's to get the best possible price you can for me.
• 8:47
  How do you do that? So what's some tactics that you use being on the buyer side? How do you get me up from 1.2 to 1.4 on that property that I'm sort of okayly somewhat interested in? But you know, talk me some of those tactics from your point of view. If I was going to really boil it down, social proof right now is our biggest power. And the way that we do that, the system that we use is called Rezo.
• 9:10
  It allows buyers to put in offers. We then rank them. They can see if they're first, second, third or fourth. They don't see the price that anyone else is at. But that's when there's that codependency on the technology and then myself as an agent to get on the phones and call and tell them where they need.
• 9:26
  It's almost like a dark action, right? It is. You know you're not the top, but you don't know where that offer is. Yeah. And you can't tell them where that offer is, do I believe? So you can't tell them. But you say, look, you're third in line. You've got an opportunity before five o'clock. It's now three to get your best foot forward. But where you're at now, you don't buy the property.
• 9:43
  I think, and I hope I'm not saying anything that'll get me in trouble, but something that I am so comfortable doing, especially in this market where there are multiple offers, I'll say to the person, if I'm really trying to get them up on that, listen, put in your best offer. This is where you need to be compared to that type of stuff. And if they're worried that they're, for some reason, the only offer, which they can see that, I'll say, listen, once you've secured this property, I have...
• 10:08
  no worries showing you that there was other offers on this. And we did it at Weapon S Road in Scarborough, block of land. The guy goes, I can't believe that you would do that. And I said, yeah, 100%. So after that, and he got that property by $1,000. That was it.
• 10:25
  His eyes when I showed him that after, so after he went unconditional, it was like I told him he won the lottery just because he only paid $1,000. He almost needed that social proof that those other five buyers could have overpaid by $100,000 each themselves. But because of that social proof, he felt comfortable. And it's why – and sorry, I'll jump the gun on this, but I know it's a topic we're going to talk about. I actually love the auction process.
• 10:49
  I do think there still needs to be a bit more education about it. Why isn't it a big thing in Western Australia? In every hot market in Australia, even regionals, Ballarat, Geelong, Bendigo, even Gladstone have thrown in the auction campaigns. Western Australia is one of the biggest markets in Australia. Yeah, there's been no take-up. From what I understand, and we went auction heavy a few years ago, but from what I understand...
• 11:14
  just from what I've heard being 33 and not actually living through the GFC in a working manner, auctions in WA were pretty much reserved to people who couldn't afford their house anymore. So they were auctions by, is it sheriff's auction from there, where they were pretty much up, it was the scraps, you could get properties for a bargain, and it just seems we've just never been able to curve that as well. And I think
• 11:38
  There are some really good... I mean, you just have to look at Vivienne Yap, the best agent in WA. She smashes auctions, and she seems to do it well. Still not to the point where it's every property like... Legislation's a bit strange in comparison to other states, like a vendor bid, for instance, in Sydney.
• 11:58
  The auction will run and you can have one vendor bid throughout the whole process. Yeah. In Perth, as many as you like. 400 pounds. So it's like, who wants to go to an auction where the vendor's bidding every second or third time? So there's a few things that I wonder if there needs to be a legislation change to how we run auctions. Yeah. But also, I think Western Australians and Perth people in general are so accustomed to having finance clauses. Yeah.
• 12:21
  That's the biggest thing. To tell someone they're going cash unconditional, and usually at auction you settle either 30 or 45 days. Can't comprehend it. No. Even the brokers and bankers here, and now we're buying in other markets in Australia, which you can't be. Conditional finance clauses just don't exist.
• 12:37
  Even now, you're trying to educate brokers. That's what it is, educating. Educating brokers. Yeah, no, just put a finance course. Well, you can't. It's like it doesn't exist. We're not going to get acceptance on the offer. They will not accept. It's not common practice. So it's one of those things. There needs to be a lot of education. We did it. Paul and I did it probably six years ago now where we went auction heavy, and we had great results. Did you sell one for my client in Nedlands through auction campaign? Yeah, I did. Mount Jorio. As...
• 13:05
  On that, it was tiresome and hard sitting in front of an owner and essentially trying to convince them about it. It felt like I was selling to them before we even sold the property. And then on the chance, and we had a very good clearance rate, but on the chance that it doesn't sell at the auction, then it's almost you reflect on your meeting that you had where you've told them that the auction's the best, you've got the confidence you do that, and then...
• 13:32
  it's a bit demoralising and you almost start to second guess what you're doing. So once again, I think it's a brilliant way to do it, but I think it's a mix of the buyers, the brokers, the agents and the sellers all just not really believing in it. When you do get a vendor that wants to auction it, and we do get those, they're the campaigns that just seem to flow well, you do it properly, the auction yields a great result as well. And Vivian's an exception. She's...
• 14:00
  Yeah. Number one agent in Western Australia for a reason. So she's had some exceptional results. But I think if the rollout and the ones that I see do really well, sort of the median or just sub-median house price within that suburb. So say if you went to Mount Hawthorne with a property for $1.8 million. Yeah.
• 14:17
  which is well under the standard transaction price at the moment, 1.8 to 2, you'd get an influx of buyer activity and you would get a very, very competitive auction campaign. Trying to do that same auction at 3.32 in Mount Hawthorne, it may be a fizzer. And I think everyone gets concerned about what happens if it passes it in.
• 14:38
  Then straight away, all the terms, we were in a seller's market. Yeah. That gives the buyers the... We had a brilliant one very early days in my career at 25 Leroy Street in Mount Lawley. It was an older gentleman. He had no family and he just wanted this thing sold. He went out of his way to set a very realistic reserve, even after we'd given him feedback.
• 15:04
  And that just went crazy because of that. Like it was an attainable property at the time. But you do, you go into the top of the market. Buy a pool. It's all about buy a pool, right? If you're selling a property at $800,000, the buy a pool is huge. You sell something at $5 million, buy a pool shrinks significantly. But the transparency is key. Like I think in looking at an auction market versus- Nothing more transparent.
• 15:25
  Like my cousin just bought one in Duncray a couple weeks ago, and it was just him and one other person. And I had a chat with someone in our team who looks after the area to get a price guide for him. And he got 100K under what she thought it was going to be valued at, and he just competed with one person. You can see what they're doing. Because Western Australians are scared to compete at auctions. It's daunting. That's what I mean. So I think it's just the educate. You're right there. The finance clause sounds like a big piece. Huge.
• 15:50
  Actually, if there's education out there from the consumers, I'm sure they'd rather be in an auction environment where they can see what they're competing against. Do you know what? In theory, that's what I've always thought, and it just hasn't panned out that way yet. You need a good broker. This comes back, and I think we've got a guest on shortly talking about mortgages, but there's
• 16:07
  still brokers out there, bankers, that will not guarantee you a cash unconditional offer going to auction. How can you go to an auction if your financier doesn't give you the confidence that they can get the finance at a particular price point? And that's the problem. No, and I often have spoken at quite a few banking events.
• 16:25
  And I'll often get challenged on this. And it's one of my pet peeves. Bankers are like, well, I can't force the client to go cash unconditional. And I'm like, your client, how long have they been looking for? Two years. You've cost your client $400,000 by not doing your job and giving them correct advice to get them in a position where they can buy unconditionally. Because at the moment, for you as an agent, getting an unconditional offer with minimal terms, ideally no finance terms, no building a pest, no building a pest.
• 16:52
  Ideally, that's been done before. Clean offer, 30-day settlement. What's that worth? $100,000 in value? We did it with our new house. Luckily enough, we bought it off market, like we spoke, paid market value for it, but had to go in with an unconditional offer. And believe me, I'm not in a position, I didn't have the cash sitting in my bank account to do that. Unconditional offer, I got a building inspection done prior.
• 17:13
  there was a lot of wrong with the property, but I knew that going into it. But then you can qualify those risks, you have accountability in terms of how much it's gonna cost you. That was how we secured. Yep, and was that on the advice of a good broker that said, look, I know you can be here, it's gonna be a stretch? On a good broker, yeah. We know the broker, Spawney. Oh, Matt Spawney. There you go, a very good broker. Him,
• 17:32
  And just the fact that I knew to get this property, which is a big block in Mount Lawley, I had to do something that was going to be able to get me that property before it went to market. Once again, paid market value, no issues there, but I didn't want to be competing against people who genuinely have that much money sitting in their bank account who could have bumped up and done a $600,000 deposit. Play with your terms and always your price. What makes a strong negotiator in a selling environment?
• 18:02
  I think the market has shifted, or I hope it has, the public's perception of it. It's less...
• 18:09
  now about that old school, get someone into a room and it's just about how much information that you can give both the buyer and the seller. And if you can genuinely sit with your seller and say, listen, because most of the times things are selling above where they are. And in the seller's mind goes, okay, well, what if we wait one more week? How's that? But if we show them, okay, we've had 47 groups come through. Because that's the truth, right? Your first offer is your best offer. So often. Percentage-wise?
• 18:37
  Well, it'd have to be 70 plus percent. There you go. Because it's interesting because it's hard when you're in the moment. And that's something. And I try to frame this when I'm at the appraisal. I say to the owners, this may happen really quickly and that may be unsettling for you.
• 18:55
  I'm fortunate enough to be in a position now where, and you know, we've built to get this position, that property selling, I'm not sitting there waiting for that commissioners. I don't have to think about that. If my owner gets a brilliant offer day one of the campaign and I've told them, listen, it's a great offer, what do you want to do? And they want to go to open for the next three weeks, no worries at all. How often do you see that playing out and then they end up getting something less than what they initially got?
• 19:22
  Less now that I'm confident in the delivery of it, but it does happen. I'd say we sell 12 properties a month, so probably one every two months does that. And usually it is...
• 19:39
  probably the older generation who have had the property for quite some time, who, you know, after sitting in it for 25 years, they want to explore it. And that's their right to do it. It's just a lot of the times buyers, as we've spoken about, you know, on the last podcast, they're either fatigued,
• 19:57
  Or they're motivated to buy and sometimes they'll just drop a really good offer at the start just to try and shut this down. I do think that's something as well. I know that a lot of agents and agencies, they still do the end date sale with no price type of thing. That's never been...
• 20:14
  the way that I like to do it. I think that worked better seven years ago when you actually needed the four weeks to do that. Right now, if a buyer makes an offer on a property on a Saturday and they say you've got another open on it the next Saturday, they're very reluctant to let that offer sit there.
• 20:31
  Yeah, it makes sense. And I've always had concerns. That was my only concern with an auction campaign or a set date sale. Four weeks. During that four weeks, you have every chance to lose that perfect buyer. For sure. Because if something else pops up, it takes them away from your property. If they're willing to pay a big price today, why wouldn't you try to lock that price in? So it makes sense. One topic that we're going to talk about is, I suppose, the perception around real estate agents. Yep. Rhys, do you want to dive into that? Do you actually add any value?
• 21:00
  Reece drops that bomb, has a CF and puts me in it. We had a I call bullshit question actually and I posed it to Lachlan. We had some comments in YouTube on some of our Perth videos really highlighting the fact that real estate agents don't do anything in a rising market. We've kind of had some conversations off air that I thought were really fascinating about the challenges a real estate agent may find in this current market where there is low listings as well.
• 21:30
  So to answer the first question, I think a real estate agent adds value after a certain point. And I'm very vocal about it. If you look at my socials, the videos I put out, whether it be myself, you, Rhys, or anybody on the street, you could put a sign up and you could sell your property tomorrow at...
• 21:51
  really market price or near enough. The agent adds the value above that. And I really believe, and if you ask any one of my client, 120 people that we sold for last year, they believe that as well. So we get where the market is right now. Then you start creating that emotion between the buyers through the systems that we use through the negotiations to go above
• 22:21
  You know, it's proven in a way where I take myself and Paul, we seem to be agents. We may not get the listing the first time every time. We're the second agent a lot. And when we go second agent on a property, vendor hasn't been able to sell it beforehand. Very rarely do we adjust the price on that. We just give it a new energy, a new strategy, a different way of doing it. And more often than not.
• 22:48
  we're walking away with a sale that the vendors are extremely happy about. I think the next part about that, the selling, like the actual sale part, that's one part of the equation. Between the actual sale and settlement, that is where it's just fraught with danger, especially in a rising market where a buyer who only ever had a budget of 1.1 has just gone and spent 1.3%.
• 23:16
  Once they get that building report back, they want to go through and they want a brand new house, even though the house was built in 1920. And, you know, it's that way of... It's navigating all the little steps. Doing it in a way that it's genuine, it's by the book. These are the major structural defects that need to be fixed. This is the gas, plumbing, electrical, that type of thing. All of these maintenance items, listen, it'd be lovely if they were done. It's not something that actually has to be done. And we see it. I'm sure you see it.
• 23:43
  buyers and sell they can just get so fiery at that point whereas if you put them together trying to talk that part over like you'd end up with a punch punch up in the car park yeah without a doubt and that makes sense i think highlighting what saline agent does it's same as the argument with the buyer's agent why would you pay a buyer's agent fee
• 24:02
  Well, whether you're buying or selling an asset, it is typically for most people the largest financial investment they have. So why flirt with that? Why have a chance that if you get that wrong and you sell it under market, you might cost yourself a couple of hundred thousand on the buyer side. For a buyer's agent, if you get that wrong and overpay by 200,000, we're talking big sums of money. For sure. And I would like to think us as a buyer's agent, you as a selling agent, we're going
• 24:26
  we more than cover the fee tenfold in that transactional process. Otherwise, we haven't done our job. A lot of the time, people ask us all the time, do you buy properties off market? And we do, with a caveat that it's typically pre-market with an agent. In the situations where we door knock and we've got to be careful because we've got agent relationships we need to protect, we often try to then get an agent involved if someone's reached out because us trying to navigate
• 24:53
  the seller it's a difficult task because they they get so much information they're probably speaking to eight different people getting different opinions so an agent's job you know for us is also being able to get a real clear dialogue because nothing worse than us telling a buyer something and the next day it changes to something else where you're in charge you're in control and i think that transactional process is probably underestimated how much work goes into managing the transaction it's not always just about the price action all the stakeholders
• 25:23
  probably somewhere between five to 10 key people involved at any given time and 50 to 60 steps in a transaction that any one of those steps goes the wrong way. Your client outcome looks very, very different. For sure. And that's where we're a huge referral based business. You know, Paul and I, we, we sell across the board. It doesn't matter where it is in WA. We'll do that. Um,
• 25:44
  It's just we like to deal with families. We don't do, you know, letterbox drops or prospect that way. And that's part of it. We do, I believe, give an exceptional result and exceptional service to these people that then they're happy to say, you know, to their auntie, their mum, their sister, their friend, go use Paul and Corey. There's no better compliment than a referral, right?
• 26:06
  And that's like the proof's in it. That's where our business is. Otherwise, we'd have a core area and try and blanket the suburb and it's just not something that I've ever had to do. You're passionate about it. For sure. And then just touching on, say, the Perth market specifically, over the last 12 months, you know, there's been record lows, number of listings.
• 26:23
  on the market. I know we see your TikToks, you're quite, you do weekly updates on the real stats. I do that and I never thought I would. I did a couple of them and then I started getting the messages from people saying, you know, where's the weekly update, that type of thing. Right now, they're dropping by about 100 listings per week. So we're getting right down to that level where we were last year when the news was reporting a housing crisis and everything. I think the media has seemed to have fizzled off in that regard. But as we were talking,
• 26:53
  Prior to this, in terms of the real estate agents and agencies, there is more agents registered in WA right now than there are listings on the market. And then whether this is true, I believe it is. I saw it on Domain.
• 27:10
  60% of agents, and that's across WA, so I think, I'm sorry, across Australia, so I think WA would be even more so. 60% of all of the listings, the transactions, are done through 20% of the agents. There is a lot of agents right now, and we spoke about it beforehand, that will not be in the industry anymore.
• 27:32
  in the next 12 months. And these aren't agents that have just got into it when, you know, it was COVID and it was hot. These are agents who have had brilliant careers who just, for whatever reason, have fallen off of momentum. And, you know, this game, I know that agent salaries and whatnot, it's a, it's a, always a hot topic to be talked about, but,
• 27:52
  It's all commission. We're not getting funded by anyone. Not that we should, I'm not saying that, but it seems to get brought up all the time that agents shouldn't make this much money because nurses and teachers make this much. But it's two very separate things. If I don't go out there and do my job and perform...
• 28:10
  I make zero, zero dollars. So it's a high risk type of thing. I'm lucky enough now that we've built this business, this brand that we don't worry about that. And I think that's the best thing for me personally, but also for my clients who I represent, it doesn't matter if that property sells or not at any given time, because I know that my kids will be able to eat
• 28:35
  the next night. I've been in the situation where you're just starting and you're waiting for that commission check at the end. It's not a great place to be for anyone.
• 28:43
  No. And I think there's a massive misconception, right? Everyone with social media now probably sees the world of real estate where you've got lovely suits, nice watches and everything else, but they don't see the five, six, seven years of work that goes into that. And starting off agent in your first two years of business, it's challenging. Like, you know, I'm sure there's times where you didn't have enough to eat. I was on 50 grand, you know, no going, I don't want to sit here and play a sad story, but that's just how it was. 50 grand...
• 29:12
  When all your friends and everyone else in your networks are in what people call more career progressive jobs where you go to university, probably double that income for a longer period of time with more certainty in career progression. And the clients that you deal with, you walk into a client and they seem to have their life together. They've got a multi-million dollar house. I'm sitting there in, at the time, my target suit.
• 29:35
  I think I sold my car to ride my motorbike because it was cheaper to run. And you look out and you go, oh, is this actually what I should be doing or should I be going down this path as they are? So it's always a high turnover industry. It's not going to be for anyone. I think there's a brilliant career for it if you do it well though. We'll wrap it up with one I call bullshit question for you. Question is you can't sell a house without a strong marketing campaign. Do you call bullshit?
• 30:03
  I think you can sell a house at all times. I don't think you can maximise a price without a strong marketing campaign. And I don't think a strong marketing campaign
• 30:15
  has to be the same thing for every property. Because once again, psychology comes into this. The scarcity can work, the off market situation can work for people. Then when I sold my house, I covered every base. We did all social media, videos, photos, floor plan, newspaper, because I wanted to prove that if I'm sitting there in front of a vendor, that this is what I did. I spent eight grand on marketing for my own house.
• 30:41
  This is why I'm telling you to do it. So long story short, yeah, you can always sell a house. But if you want to look back on that and be satisfied with the result on it, I think you need a very strong marketing campaign. Also, when you sell your house, stop looking at houses that are similar to yours after that. You know, we did one. You boys bought it off me. In Woodlands, huge price at the time.
• 31:09
  I then found out that that vendor, after months and months, another one sold for more and she was comparing hers. And it was a difference in six months in 2023. Like, may as well have been 20 years. And now it's up a couple million months. Once you've done it, you've made that decision, sell it, move on. That's good advice, actually. It really is. In a world where everything's at your fingertips, just sell it, throw the keys in the car, move on. Exactly. Thanks for coming in again, Corey. We'll hopefully get you in again early next year.