"Depressed" agents panic as homebuyers demand collapses
“Australasia’s #1 real estate coach and coach” Tom Panos, is “stressed” after “almost no buyers” at the Sydney auction on Saturday. I am STRESSED We have almost NO buyers. However I still think vendors should sell now, here’s why… Plus, John McGrath told me that 25 economists across Australia agree on this – the #real estate market will get worse before it gets better. https://t.co/fv4Hvrt1K5 — TOM PANOS (@tompanos) 9 July 2022 According to Panos: “I have six auctions today. Of the six I sold one out of six … And the only one that sold was the last. So I’m zero out of five until the auction I did this afternoon at 15.30… The first five auctions were pretty pathetic. Almost the only people there were agents and vendors… I barely had anyone signed up all day”… “People have turned around and thought to themselves, this [interest rate rises] to be really scary out there as a buyer, of which I think there must be some of them”… “This is the deal. If the Reserve Bank wants proof… tak