[ad_1]
Talking on a really particular version of Actual Property Uncovered, Tom Panos was dishing the filth on the ultimate episode of The Block 2022 to Actual Property Uncovered co-host Phil Tarrant when he conceded that the present property market’s “not nice”.
From his perspective, the end result seen on The Block 2022, which netted Tom Panos’ public sale for western Sydney associates Omar and Oz a $1.6 million payday and left different contestants excessive and dry, is one which’s now enjoying out each weekend.
“The market’s not nice. However then, for some purpose, some properties get astonishing cash. Not solely are they getting what they used to get, they’re getting extra,” Mr Panos mentioned.
From his perspective, there have been two explanation why Omar and Oz noticed such an astonishing outcome.
The primary was the property itself.
And the second was the truth that it had two those that went on a bidding frenzy — and who needed to be on tv.
“Each these individuals knew that everybody is watching … prime-time TV,” the auctioneer acknowledged.
“It’s essential do not forget that that is extremely edited on TV — there [are] lots of edits.
“Do you know that Danny held my public sale up by 40 minutes — he wasn’t there.
“The producers stored saying, ‘simply wait, simply wait.’ You might be speaking about sensationalism on TV — a man making a late entrance together with his entourage and his canine.
“You’ve acquired one other man that’s pulled up in a Lamborghini, and what you’ve acquired is a story; The man from The Block and the brand new man with the brand new cash. The altering of a guard.”
From the auctioneer’s perspective, the explanation he was in a position to obtain such a robust outcome for Omar and Oz was that “two individuals needed it badly” — though it wasn’t only for them to dwell in.
“They needed it as a result of they knew everybody was watching,” he mentioned.
Reflecting on the completely different outcomes achieved between final yr’s tv sequence and this yr’s, Mr Panos additionally expects that if The Block auctions had been held in February 2022 — and never in November 2022 — it may have been a completely completely different ballgame.
“There would have been extra individuals bidding,” he mentioned.
“This time final yr, I did the public sale for Luke and Josh — I’d have had two to a few instances the variety of bidders. They have been flying left, proper, and centre.
“If you wish to speak about a brief public sale — my public sale final time was proven for about 45 seconds.
“I went up about 1,000,000 bucks in like 30 seconds. There was FOMO, there was craziness, and also you had your regular, conventional consumers bidding with the superstar consumers.”
Whereas the 2021 competitors created some “fierce” bidding, Mr Panos acknowledged that the timing of the most recent auctions couldn’t have been extra completely different.
With the “dragon” that’s inflation needing to go down from 8 per cent to three per cent — and in an space the place the median property worth is “nowhere close to” the reserve costs required to promote this yr’s homes featured on The Block, the auctioneer matter-of-factly conceded that “all these items impacted the value”.
[ad_2]