<description>&lt;p&gt;Underquoting, auction tactics, and market sentiment—some of real estate’s most controversial topics. These are exactly what we’re diving into today with Thomas McGlynn, CEO of BresicWhitney. There's no holding back as we talk about the realities behind underquoting, why it’s so hard to avoid in a competitive market, and the fine line agents walk when trying to attract buyers without misleading them.&lt;/p&gt; &lt;p&gt;As Thomas puts it, even with laws in place, agents are often forced into tough positions: when one agent quotes low, others often have to adjust their guides just to compete. It’s a tightrope that often leaves buyers frustrated and sellers with high expectations.&lt;/p&gt; &lt;p&gt;We also dig into the auction room itself and the psychology at play there. We take a unique look at how auctioneers manage to draw more from buyers than they initially intend to spend, all without crossing ethical lines. We discuss the difference between registered and active bidders, noting how this insight gives us a real-time view of market confidence—a far more useful indicator than auction clearance rates alone.&lt;/p&gt; &lt;p&gt;Finally, we share our thoughts on the current market and where we think it’s headed. With interest rates soaring high, buyers are naturally hesitant, but we believe those who buy now could see the rewards by late 2025, especially in sentiment-driven markets like Sydney. Once rates eventually ease, buyer confidence is expected to surge, and we’ll see a market shift. It’s an honest, in-depth conversation about the realities of today’s market, what buyers can expect, and why timing and strategy are everything. Tune in and let's get started!&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Episode Highlights:&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;00:00 - Introduction&lt;/p&gt; &lt;p&gt;01:06 - Who is Thomas McGlynn?&lt;/p&gt; &lt;p&gt;02:09 - Unique insights Thomas has gained from years in auctioneering&lt;/p&gt; &lt;p&gt;03:25 - How Thomas gauges the market’s direction beyond bidder numbers at auctions&lt;/p&gt; &lt;p&gt;06:47 - Thomas McGlynn's thoughts on agents facing underquoting challenges&lt;/p&gt; &lt;p&gt;15:54 - How do master auctioneers convince bidders to go beyond their budget?&lt;/p&gt; &lt;p&gt;18:47 - Observation on the new breed of buyers agents in recent years&lt;/p&gt; &lt;p&gt;21:00 - The current market phase and its impact on buyers through 2025&lt;/p&gt; &lt;p&gt;26:44 - How do agents manage open databases while complying with privacy legislation?&lt;/p&gt; &lt;p&gt;31:56 - How does business adapt to lower turnover rates while identifying potential sellers?&lt;/p&gt; &lt;p&gt;37:55 - What does it take for an agent to get to the top of the game and just stay on top?&lt;/p&gt; &lt;p&gt;49:32 - Thomas McGlynn’s property dumbo&lt;/p&gt; &lt;p&gt;&lt;strong&gt;About Our Guest:&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Thomas McGlynn&lt;/strong&gt; is the CEO of BresicWhitney, a Sydney-based property group, and is recognised as one of Australia’s leading thought leaders, mentors, and real estate coaches. With over two decades of experience, he has built and led high-performing teams and held leadership roles within national real estate groups in Queensland and Sydney. Known as the ‘voice of Sydney property,’ Thomas has a strong media presence and is an authority on current and emerging market trends, utilizing his extensive auctioneering expertise to educate and inform both state and national audiences about the dynamics of the Sydney property industry.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Connect with Thomas McGlynn:&lt;/strong&gt;&lt;/p&gt; &lt;ul&gt; &lt;li aria-level="1"&gt;Instagram &lt;a href="https://www.instagram.com/thomasmcglynn/"&gt;https://www.instagram.com/thomasmcglynn/&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;LinkedIn &lt;a href="https://www.linkedin.com/in/thomas-mcglynn-96604464/"&gt;https://www.linkedin.com/in/thomas-mcglynn-96604464/&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Facebook &lt;a href="https://www.facebook.com/tmcglynn/"&gt;https://www.facebook.com/tmcglynn/&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Website &lt;a href="https://bresicwhitney.com.au/"&gt;https://bresicwhitney.com.au/&lt;/a&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&lt;strong&gt;Resources:&lt;/strong&gt;&lt;/p&gt; &lt;ul&gt; &lt;li aria-level="1"&gt;Visit our website &lt;a href="https://www.theelephantintheroom.com.au"&gt;https://www.theelephantintheroom.com.au&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - &lt;a href="mailto:questions@theelephantintheroom.com.au"&gt;questions@theelephantintheroom.com.au&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Looking for a Sydney Buyers Agent? &lt;a href="http://www.gooddeeds.com.au/"&gt;https://www.gooddeeds.com.au&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Work with Veronica: &lt;a href="http://www.veronicamorgan.com.au"&gt;https://www.veronicamorgan.com.au&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Looking for a Mortgage Broker? &lt;a href="https://www.flintgroup.au"&gt;https://www.flintgroup.au&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Work with Chris: &lt;a href="mailto:chrisbates@flintgroup.au"&gt;chrisbates@flintgroup.au&lt;/a&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!&lt;/p&gt; &lt;ul&gt; &lt;li aria-level="1"&gt;Subscribe on YouTube: &lt;a href="https://www.youtube.com/@theelephantintheroom-podcast"&gt;https://www.youtube.com/@theelephantintheroom-podcast&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Subscribe on Apple Podcasts: &lt;a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719"&gt;https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719&lt;/a&gt;&lt;/li&gt; &lt;li aria-level="1"&gt;Subscribe on Spotify: &lt;a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765"&gt;https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765&lt;/a&gt;&lt;/li&gt; &lt;/ul&gt;&lt;p&gt;See &lt;a href="https://omnystudio.com/listener"&gt;omnystudio.com/listener&lt;/a&gt; for privacy information.&lt;/p&gt;</description>

The Elephant In The Room Property Podcast | Inside Australian Real Estate

Veronica Morgan & Chris Bates

Real Estate Tactics You Need to Know: Underquoting, Auctions, and Market Sentiment

NOV 3, 202452 MIN
The Elephant In The Room Property Podcast | Inside Australian Real Estate

Real Estate Tactics You Need to Know: Underquoting, Auctions, and Market Sentiment

NOV 3, 202452 MIN

Description

Underquoting, auction tactics, and market sentiment—some of real estate’s most controversial topics. These are exactly what we’re diving into today with Thomas McGlynn, CEO of BresicWhitney. There's no holding back as we talk about the realities behind underquoting, why it’s so hard to avoid in a competitive market, and the fine line agents walk when trying to attract buyers without misleading them.

As Thomas puts it, even with laws in place, agents are often forced into tough positions: when one agent quotes low, others often have to adjust their guides just to compete. It’s a tightrope that often leaves buyers frustrated and sellers with high expectations.

We also dig into the auction room itself and the psychology at play there. We take a unique look at how auctioneers manage to draw more from buyers than they initially intend to spend, all without crossing ethical lines. We discuss the difference between registered and active bidders, noting how this insight gives us a real-time view of market confidence—a far more useful indicator than auction clearance rates alone.

Finally, we share our thoughts on the current market and where we think it’s headed. With interest rates soaring high, buyers are naturally hesitant, but we believe those who buy now could see the rewards by late 2025, especially in sentiment-driven markets like Sydney. Once rates eventually ease, buyer confidence is expected to surge, and we’ll see a market shift. It’s an honest, in-depth conversation about the realities of today’s market, what buyers can expect, and why timing and strategy are everything. Tune in and let's get started!

Episode Highlights:

00:00 - Introduction

01:06 - Who is Thomas McGlynn?

02:09 - Unique insights Thomas has gained from years in auctioneering

03:25 - How Thomas gauges the market’s direction beyond bidder numbers at auctions

06:47 - Thomas McGlynn's thoughts on agents facing underquoting challenges

15:54 - How do master auctioneers convince bidders to go beyond their budget?

18:47 - Observation on the new breed of buyers agents in recent years

21:00 - The current market phase and its impact on buyers through 2025

26:44 - How do agents manage open databases while complying with privacy legislation?

31:56 - How does business adapt to lower turnover rates while identifying potential sellers?

37:55 - What does it take for an agent to get to the top of the game and just stay on top?

49:32 - Thomas McGlynn’s property dumbo

About Our Guest:

Thomas McGlynn is the CEO of BresicWhitney, a Sydney-based property group, and is recognised as one of Australia’s leading thought leaders, mentors, and real estate coaches. With over two decades of experience, he has built and led high-performing teams and held leadership roles within national real estate groups in Queensland and Sydney. Known as the ‘voice of Sydney property,’ Thomas has a strong media presence and is an authority on current and emerging market trends, utilizing his extensive auctioneering expertise to educate and inform both state and national audiences about the dynamics of the Sydney property industry.

Connect with Thomas McGlynn:

Resources:

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

See omnystudio.com/listener for privacy information.