1 00:00:00,280 --> 00:00:03,279 Speaker 1: Ari, Calomnis Mark Burs how'd. 2 00:00:03,080 --> 00:00:04,480 Speaker 2: You go very well? 3 00:00:06,280 --> 00:00:07,400 Speaker 1: But how do I go? How do I go? 4 00:00:07,760 --> 00:00:09,360 Speaker 2: How did you go very well? 5 00:00:09,400 --> 00:00:14,360 Speaker 1: Calomnis Carla Manus, Yes, and not as opposed to Cala Manus. 6 00:00:14,440 --> 00:00:18,120 Speaker 2: Yeah, yeah, yeah, that's you know what You've nailed it. 7 00:00:18,320 --> 00:00:20,439 Speaker 2: You're a fellow Greek, you know, you know yourself. 8 00:00:20,480 --> 00:00:23,000 Speaker 1: And sometimes you go by the name of Ari James. 9 00:00:23,400 --> 00:00:27,400 Speaker 2: Yes, not by choice, but by where's. 10 00:00:27,120 --> 00:00:29,040 Speaker 1: That come from? Own? Obviously middle names James, but my 11 00:00:29,080 --> 00:00:32,919 Speaker 1: dad James James. And you when you say James as 12 00:00:32,960 --> 00:00:35,840 Speaker 1: in Dimitri as your father's obviously that's your father's surname 13 00:00:35,920 --> 00:00:36,920 Speaker 1: or your month surname. 14 00:00:36,680 --> 00:00:39,280 Speaker 2: Father's surname. Dud's first name is James. 15 00:00:39,440 --> 00:00:41,919 Speaker 1: Okay, okay, you James, Admitri. 16 00:00:42,600 --> 00:00:46,640 Speaker 2: He goes by James with some people call him Dimmy, yeah, 17 00:00:47,120 --> 00:00:48,880 Speaker 2: but everyone just calls me Ari. 18 00:00:49,080 --> 00:00:52,680 Speaker 1: And where does Ari James appear in terms of your business? 19 00:00:52,960 --> 00:00:56,520 Speaker 2: So it does not appear necessarily anywhere in the business. 20 00:00:56,600 --> 00:00:59,680 Speaker 2: But there was a recent news article which referred to 21 00:00:59,680 --> 00:01:03,520 Speaker 2: me as a James, but that was by the author's choice, 22 00:01:03,680 --> 00:01:04,240 Speaker 2: not by mind. 23 00:01:04,240 --> 00:01:07,200 Speaker 1: I didn't know as an error. Okay, now I got it, 24 00:01:07,640 --> 00:01:09,400 Speaker 1: because I don't want to get your name wrong, and 25 00:01:11,720 --> 00:01:14,840 Speaker 1: I mean it's just for the audience to Sayuri's usually 26 00:01:15,400 --> 00:01:16,440 Speaker 1: short for Aristotle. 27 00:01:17,040 --> 00:01:20,000 Speaker 2: Well usually it is, but it's just Ari on. 28 00:01:20,000 --> 00:01:22,880 Speaker 1: The birth really lucky because that's a big name to 29 00:01:22,920 --> 00:01:25,800 Speaker 1: live up to, mate Aristotle, and to be also pretty 30 00:01:25,840 --> 00:01:29,520 Speaker 1: hard on a kid in your kindergarten four or five 31 00:01:29,560 --> 00:01:31,760 Speaker 1: year old having to explain to everybody's name is Aristotle. 32 00:01:31,920 --> 00:01:35,640 Speaker 2: Yes, yeah, exactly, And that's just is a big name 33 00:01:35,680 --> 00:01:37,360 Speaker 2: to live up to. So that's why they just thought 34 00:01:37,440 --> 00:01:38,720 Speaker 2: we'll call him ari Ari. 35 00:01:39,120 --> 00:01:42,720 Speaker 1: And you're the founder of million dollar Listing Sydney, yes, 36 00:01:43,040 --> 00:01:44,600 Speaker 1: and we're going to talk about that in a moment. 37 00:01:45,319 --> 00:01:50,040 Speaker 1: But you're only pretty young, young, a young fella, twenty eight. 38 00:01:50,240 --> 00:01:51,920 Speaker 1: What's the deal man, How did you get into this 39 00:01:52,080 --> 00:01:53,640 Speaker 1: business or did you start off? 40 00:01:53,800 --> 00:01:57,080 Speaker 2: I started eleven years ago. I was at school and 41 00:01:57,320 --> 00:01:59,440 Speaker 2: it was really just out of a passion for property. 42 00:01:59,800 --> 00:02:03,120 Speaker 2: I wanted to know what things on the market were 43 00:02:03,160 --> 00:02:05,680 Speaker 2: selling for, what their price, guards were, wanted to know 44 00:02:05,720 --> 00:02:07,400 Speaker 2: what things sold for. I wanted to know what things 45 00:02:07,440 --> 00:02:11,720 Speaker 2: at least for and so that interest I thought, I 46 00:02:11,760 --> 00:02:14,120 Speaker 2: was just start uploading these properties on social media that 47 00:02:14,200 --> 00:02:17,560 Speaker 2: I'm interested in. It developed a large following just right 48 00:02:17,600 --> 00:02:19,080 Speaker 2: off the bat. So I thought, of all other people 49 00:02:19,120 --> 00:02:23,360 Speaker 2: are clearly interested, and it just had momentum from there. 50 00:02:23,720 --> 00:02:25,560 Speaker 1: Like at a seven eight we were at school seven 51 00:02:25,600 --> 00:02:27,280 Speaker 1: and you would have been there was your eleven scool, 52 00:02:27,480 --> 00:02:30,520 Speaker 1: So year eleven school. How is it you're interested in 53 00:02:31,760 --> 00:02:33,840 Speaker 1: I mean, I guess some kids are riches in big 54 00:02:33,840 --> 00:02:37,960 Speaker 1: boats and other riches and private jets, and you're obviously 55 00:02:37,960 --> 00:02:40,480 Speaker 1: interested in what we'll ask you, why are we interested 56 00:02:40,480 --> 00:02:41,000 Speaker 1: in real estate? 57 00:02:41,120 --> 00:02:43,640 Speaker 2: So my family are in property, and it was always 58 00:02:43,880 --> 00:02:47,000 Speaker 2: spoken about around the house, and there was an early 59 00:02:48,120 --> 00:02:51,240 Speaker 2: suggestion that I should be a real estate agent, and 60 00:02:51,560 --> 00:02:54,600 Speaker 2: I thought, well, I'm interested in property. I'm going to 61 00:02:54,639 --> 00:02:58,560 Speaker 2: start this page. I'll anonymously promote myself if I become 62 00:02:58,560 --> 00:03:01,760 Speaker 2: an agent. Through this page, I'll post my results, my listings. 63 00:03:02,639 --> 00:03:07,359 Speaker 2: I didn't end up becoming an agent. I studied, got 64 00:03:07,360 --> 00:03:10,120 Speaker 2: an atar, and I started commerce law. It's in the UNI. 65 00:03:10,400 --> 00:03:13,160 Speaker 2: Practiced as a lawyer. But this business I continued to 66 00:03:13,240 --> 00:03:16,840 Speaker 2: run throughout school and throughout YUNI and still. 67 00:03:16,560 --> 00:03:21,760 Speaker 1: Today, seventeen years of age. Your to yourself, I might 68 00:03:21,800 --> 00:03:24,480 Speaker 1: start sort of sort of marketing myself to some extent 69 00:03:24,760 --> 00:03:28,440 Speaker 1: and testing out the real estate marketplace, Mike and myself 70 00:03:28,560 --> 00:03:30,440 Speaker 1: is a sort of like a real estate agent to 71 00:03:30,480 --> 00:03:33,520 Speaker 1: some extent, like a it's sort of like a not 72 00:03:33,600 --> 00:03:36,520 Speaker 1: a fake real estate agent, but like a I don't 73 00:03:36,520 --> 00:03:39,320 Speaker 1: know what the word is, but I guess you're just 74 00:03:39,400 --> 00:03:42,440 Speaker 1: testing out the real agent. Yeah, the facto. Yeah, sort 75 00:03:42,440 --> 00:03:45,480 Speaker 1: of like a mum or dad will be the idea. 76 00:03:45,760 --> 00:03:49,360 Speaker 2: Yeah, you know, Mum has a particular interest in real 77 00:03:49,480 --> 00:03:52,320 Speaker 2: estates and I should always talk about it. And you know, 78 00:03:52,440 --> 00:03:54,560 Speaker 2: like I grew up in Bondai and there were things 79 00:03:54,600 --> 00:03:56,480 Speaker 2: selling and she would a herself, wonder what that's sold for? 80 00:03:57,120 --> 00:03:59,040 Speaker 2: And I thought, okay, I'll call it the agent and 81 00:03:59,080 --> 00:04:01,720 Speaker 2: find out. And I would just post it to this 82 00:04:01,840 --> 00:04:05,040 Speaker 2: Instagram and it would get all these clicks and all 83 00:04:05,040 --> 00:04:08,080 Speaker 2: these views and likes, and I thought, wow, like there's 84 00:04:08,200 --> 00:04:11,560 Speaker 2: there's something here. There's just an energy here, There's there's 85 00:04:11,560 --> 00:04:16,400 Speaker 2: an addiction to that viewership, into that engagement. And so 86 00:04:16,440 --> 00:04:17,239 Speaker 2: it just kept going. 87 00:04:18,600 --> 00:04:20,800 Speaker 1: Can I what do you think you've been on it 88 00:04:20,880 --> 00:04:24,840 Speaker 1: for eleven years? Yes, maybe just break it down a 89 00:04:24,880 --> 00:04:27,120 Speaker 1: little bit now after you've you know, you've got a 90 00:04:27,160 --> 00:04:31,120 Speaker 1: lot of experience in this. You obviously posted thousands of houses, 91 00:04:31,160 --> 00:04:34,200 Speaker 1: You've got a big following. We'll talk about the business 92 00:04:34,240 --> 00:04:36,919 Speaker 1: side of things at a moment. But what do you 93 00:04:36,960 --> 00:04:41,320 Speaker 1: think it is in Sydney at least? What is our 94 00:04:41,520 --> 00:04:49,599 Speaker 1: compulsion with expensive most times hard to out without outside 95 00:04:49,600 --> 00:04:53,600 Speaker 1: of our own reach properties, and probably most of them 96 00:04:53,600 --> 00:04:56,200 Speaker 1: are on the water, but you know, sometimes not. But 97 00:04:56,400 --> 00:04:58,479 Speaker 1: what is it about Sydney people that makes that so 98 00:04:58,800 --> 00:04:59,960 Speaker 1: such a popular. 99 00:04:59,800 --> 00:05:04,520 Speaker 2: P It's interesting, It's a good question. So I think 100 00:05:05,320 --> 00:05:11,280 Speaker 2: that Sydney prices have been massive relative to other areas, 101 00:05:11,360 --> 00:05:15,359 Speaker 2: both nationally and internationally. The prices are so big that 102 00:05:15,440 --> 00:05:19,440 Speaker 2: people are like, who are buying these properties? Who's selling them? 103 00:05:19,680 --> 00:05:23,080 Speaker 2: How do they get this much money? And also the 104 00:05:23,120 --> 00:05:27,520 Speaker 2: growth in price for eleven years, everyone's saying, how is 105 00:05:27,560 --> 00:05:30,520 Speaker 2: this sustainable? Because I used to get that question even 106 00:05:30,520 --> 00:05:33,440 Speaker 2: when I started there is there a bubble? Is this sustainable? 107 00:05:33,960 --> 00:05:37,720 Speaker 2: I've just seen the market increase in that whole period. 108 00:05:38,200 --> 00:05:42,080 Speaker 2: So I think the curiosity and the interest is how 109 00:05:42,120 --> 00:05:44,720 Speaker 2: are these properties worth so much? And how does it 110 00:05:44,800 --> 00:05:48,440 Speaker 2: just keep increasing? So I think that's for me, at least, 111 00:05:48,960 --> 00:05:50,360 Speaker 2: the curiosity and the interest. 112 00:05:50,760 --> 00:05:54,919 Speaker 1: So the international magazine called The Economist, Yes, which is 113 00:05:56,040 --> 00:06:01,320 Speaker 1: heavily relied on sort of as a research tool for 114 00:06:03,080 --> 00:06:05,120 Speaker 1: organizations around the world world when they're trying to get 115 00:06:05,160 --> 00:06:09,560 Speaker 1: a gauge on an asset class in any country. So 116 00:06:09,560 --> 00:06:11,920 Speaker 1: the economists talks about all sorts of asset classes, you know, 117 00:06:12,800 --> 00:06:20,960 Speaker 1: goal mining, shares, fund management, any asset class you can imagine, 118 00:06:21,120 --> 00:06:28,720 Speaker 1: including property, and the economists has traditionally raised the prices 119 00:06:28,760 --> 00:06:32,479 Speaker 1: of property, not just in Sydney but Australia wide. How 120 00:06:32,760 --> 00:06:36,960 Speaker 1: we've enjoyed property price rises for a long long time, 121 00:06:37,200 --> 00:06:40,479 Speaker 1: very rare. Do we see property reductions? Yes, and in particular. 122 00:06:40,520 --> 00:06:42,080 Speaker 1: And I know about this because I used to have 123 00:06:42,160 --> 00:06:44,360 Speaker 1: to try to defend our position every time I did 124 00:06:44,360 --> 00:06:46,120 Speaker 1: a bond issue many many years ago, when used to 125 00:06:46,160 --> 00:06:48,279 Speaker 1: raise money through the bond markets in relation to strain 126 00:06:48,320 --> 00:06:53,040 Speaker 1: wotagsh ones, and we managed to continue to defeat it. 127 00:06:53,640 --> 00:06:58,120 Speaker 1: But there was a sense that globally that Sydney in particular, 128 00:06:58,160 --> 00:07:04,680 Speaker 1: house prices are outlandish. We're talking about an average, but 129 00:07:04,720 --> 00:07:09,000 Speaker 1: of course the places you're posting, they're the really expensive places. 130 00:07:09,040 --> 00:07:12,400 Speaker 1: They actually bring the average up. Not everything sells at 131 00:07:12,440 --> 00:07:20,280 Speaker 1: that price, but nonetheless that sort of nearly doubting Thomas 132 00:07:21,040 --> 00:07:25,800 Speaker 1: type syndrome about Sydney house prices. They can't keep going 133 00:07:25,840 --> 00:07:29,360 Speaker 1: and going and going. What is someone like you who's 134 00:07:29,520 --> 00:07:32,480 Speaker 1: out there now these days? I'm really involved in this. 135 00:07:33,080 --> 00:07:35,200 Speaker 1: What is someone like you think about that sort of 136 00:07:35,240 --> 00:07:39,040 Speaker 1: proposition that Sydney house prices are going to take a 137 00:07:39,080 --> 00:07:41,920 Speaker 1: massive reduction we have. You know, the economists used to 138 00:07:41,960 --> 00:07:44,440 Speaker 1: talk about a thirty percent reduction. I've never seen. It's 139 00:07:44,480 --> 00:07:47,000 Speaker 1: never happened. It didn't even happen during the GFC. It's 140 00:07:47,040 --> 00:07:49,320 Speaker 1: never happened. And in fact, when it has happened a 141 00:07:49,360 --> 00:07:51,840 Speaker 1: little bit, they bounced back at an even great rate. 142 00:07:52,840 --> 00:07:54,680 Speaker 1: What do you feel and who are these buyers? Where 143 00:07:54,720 --> 00:07:56,680 Speaker 1: they're coming from, and where do they get their money from? 144 00:07:56,680 --> 00:07:58,760 Speaker 1: By the way, often think how do those build forward? 145 00:07:58,760 --> 00:07:59,160 Speaker 1: That place? 146 00:07:59,440 --> 00:08:04,240 Speaker 2: Yeah, it's interesting. So I think that I'm a bit 147 00:08:04,280 --> 00:08:08,160 Speaker 2: of an optimist, and I think glass half full, Yeah, exactly, 148 00:08:08,240 --> 00:08:11,800 Speaker 2: glass half full. I anticipated it's just going to keep increasing, honestly, 149 00:08:12,800 --> 00:08:18,840 Speaker 2: And I think at that top level buyers are less 150 00:08:18,880 --> 00:08:23,360 Speaker 2: price sensitive because at that level they're mostly cash buyers. 151 00:08:23,480 --> 00:08:26,520 Speaker 2: Well it's eighty percent cash, maybe a bit of a 152 00:08:26,560 --> 00:08:32,480 Speaker 2: mortgage at that ten million plus level potentially, Whereas the 153 00:08:32,600 --> 00:08:36,520 Speaker 2: sensitivity I guess to interest rates, for example, is in 154 00:08:36,559 --> 00:08:38,920 Speaker 2: that it could be in that one to two million, 155 00:08:38,960 --> 00:08:42,040 Speaker 2: one to five million dollar area where there is a sensitivity, 156 00:08:42,080 --> 00:08:45,520 Speaker 2: but even that area keeps increasing. Like padding turn Bolara, 157 00:08:45,840 --> 00:08:48,560 Speaker 2: those suburbs are just going up, at least from what 158 00:08:48,600 --> 00:08:52,760 Speaker 2: I'm saying, So I do not expect it to go 159 00:08:52,880 --> 00:08:57,360 Speaker 2: down because I am an optimist, but also being involved 160 00:08:57,360 --> 00:09:00,560 Speaker 2: in posting and advertising for eleven years, I just haven't 161 00:09:00,559 --> 00:09:04,000 Speaker 2: seen a reduction. So looking past and looking into the future, 162 00:09:04,000 --> 00:09:05,319 Speaker 2: I just think it's going to continue. 163 00:09:05,440 --> 00:09:11,760 Speaker 1: So the demand to advertise on your pages, yes, do 164 00:09:11,840 --> 00:09:14,960 Speaker 1: you see that demand? Did that demand kick out much 165 00:09:15,000 --> 00:09:17,400 Speaker 1: after the interest rate first interest rate reduction in February 166 00:09:17,400 --> 00:09:17,800 Speaker 1: this year? 167 00:09:18,280 --> 00:09:22,319 Speaker 2: So, to be honest, I compared to answer your question, 168 00:09:22,559 --> 00:09:25,800 Speaker 2: I don't think of the increase or decrease. It was 169 00:09:25,840 --> 00:09:31,400 Speaker 2: just it just kept going, and I noticed a proliferation, 170 00:09:32,120 --> 00:09:35,600 Speaker 2: an increase on the site where number one we started 171 00:09:35,600 --> 00:09:38,000 Speaker 2: getting twenty eight million views a month, and I was 172 00:09:38,000 --> 00:09:40,680 Speaker 2: published publicizing that and think people are thinking, wow, there's 173 00:09:41,320 --> 00:09:45,320 Speaker 2: all these alternatives that are quite expensive to advertise on, 174 00:09:46,000 --> 00:09:49,240 Speaker 2: but maybe don't get as many views from qualified people 175 00:09:49,360 --> 00:09:53,880 Speaker 2: from passive buyers. So there was an increase when I 176 00:09:53,920 --> 00:09:57,640 Speaker 2: started publicizing that. Notwithstanding interest rate movements in a low 177 00:09:57,679 --> 00:10:00,400 Speaker 2: interest rate environment. In a high interest rate environment, we've 178 00:10:00,440 --> 00:10:04,280 Speaker 2: still consistently received a lot of properties. And that's also 179 00:10:04,440 --> 00:10:08,960 Speaker 2: because we advertise all over Sydney, like including the Southern 180 00:10:09,000 --> 00:10:12,559 Speaker 2: Highlands which is New South Wales. Just all over the place. 181 00:10:12,600 --> 00:10:14,520 Speaker 2: We've got a constant stream of property. 182 00:10:14,640 --> 00:10:15,840 Speaker 1: It's just New South Wales. 183 00:10:16,040 --> 00:10:20,840 Speaker 2: Yeah, but we will do interstate properties occasionally because Sydney 184 00:10:20,840 --> 00:10:24,800 Speaker 2: buyers are interested. Yeah, other properties outside of Sydney, but 185 00:10:24,840 --> 00:10:28,120 Speaker 2: the majority is in Sydney that we advertise. 186 00:10:29,080 --> 00:10:31,480 Speaker 1: So that you're not you didn't see any change or 187 00:10:31,480 --> 00:10:34,079 Speaker 1: you're not seeing changes when interest rates went up, and 188 00:10:34,120 --> 00:10:37,160 Speaker 1: you're not seeing change any changes when interest rates went down, 189 00:10:38,080 --> 00:10:41,600 Speaker 1: And that may be right, that may be just a 190 00:10:41,880 --> 00:10:46,560 Speaker 1: consequence of the buyers and or the vendors not being 191 00:10:46,600 --> 00:10:51,559 Speaker 1: sensitive to price and all interest rates. Yes, so therefore 192 00:10:53,200 --> 00:10:57,360 Speaker 1: those buyers. Do you get to see the buy side much? 193 00:10:57,400 --> 00:11:00,440 Speaker 1: Do you get to see who the buyers? Yeah? 194 00:11:00,520 --> 00:11:03,840 Speaker 2: So we don't not really like we kind of just 195 00:11:03,840 --> 00:11:07,040 Speaker 2: get the sold price, address, bed, bath, car and the 196 00:11:07,080 --> 00:11:10,760 Speaker 2: agent's contact and it ends there. It's quick summary. We 197 00:11:10,880 --> 00:11:14,280 Speaker 2: don't necessarily find out who the buyers are, and nor 198 00:11:14,320 --> 00:11:16,760 Speaker 2: would I want to get into publishing them because there 199 00:11:16,840 --> 00:11:18,480 Speaker 2: is a privacy element. 200 00:11:19,320 --> 00:11:21,040 Speaker 1: But you don't get to see behind the scenes. 201 00:11:21,160 --> 00:11:24,560 Speaker 2: No, not behind the scenes. We actually were getting involved 202 00:11:24,600 --> 00:11:27,120 Speaker 2: a little bit in the photography and et cetera. When 203 00:11:27,160 --> 00:11:29,200 Speaker 2: the property is being listed on the market, so you 204 00:11:29,280 --> 00:11:31,840 Speaker 2: meet the seller, but in terms of the buyer, once 205 00:11:31,880 --> 00:11:35,000 Speaker 2: the property is sold, will be sent the sold information, 206 00:11:35,160 --> 00:11:38,080 Speaker 2: but they don't typically include the buyer. You'll find that 207 00:11:38,160 --> 00:11:41,199 Speaker 2: in AFI articles and things like that that just clows 208 00:11:41,240 --> 00:11:41,640 Speaker 2: the buyer. 209 00:11:41,760 --> 00:11:45,600 Speaker 1: Yeah, John the Chancellor or one of those real estate writers. 210 00:11:45,920 --> 00:11:49,320 Speaker 1: So just so I can get a bit of an 211 00:11:49,360 --> 00:11:52,360 Speaker 1: understanding of your model. Your business model. So your business 212 00:11:52,360 --> 00:11:58,800 Speaker 1: model is properties largely in New South Wales, probably more 213 00:11:58,840 --> 00:12:05,040 Speaker 1: confined to Sydney than anywhere else the greater Sydney. Occasionally 214 00:12:05,040 --> 00:12:07,240 Speaker 1: you can do stuff from outside of Sydney in New 215 00:12:07,280 --> 00:12:09,520 Speaker 1: South Wales and outside of New South Wales's occasional, but 216 00:12:09,640 --> 00:12:12,560 Speaker 1: it's not really your bread and butter. Vendors are the 217 00:12:12,600 --> 00:12:14,960 Speaker 1: ones who are approaching you or vendors agents. 218 00:12:15,160 --> 00:12:19,280 Speaker 2: Yes, so it's a real mix both. Yeah, which is great. 219 00:12:19,320 --> 00:12:22,680 Speaker 2: So we've made around a lot of the advertising budgets 220 00:12:22,679 --> 00:12:25,600 Speaker 2: for the agents. So where real estate domain and are 221 00:12:25,640 --> 00:12:28,600 Speaker 2: listed on there, and that is budgets pretended to the vendor. 222 00:12:28,679 --> 00:12:30,160 Speaker 2: We're on those budgets now. 223 00:12:30,040 --> 00:12:34,280 Speaker 1: So maybe you can explain that pleas So you're saying 224 00:12:34,360 --> 00:12:37,640 Speaker 1: that asient goes along to someone who's got a big 225 00:12:37,640 --> 00:12:41,600 Speaker 1: waterfront house, for example on Sydney Harbor, and it's ten 226 00:12:41,600 --> 00:12:44,960 Speaker 1: million dollars sale for fragment's sake, and you say it 227 00:12:45,000 --> 00:12:47,040 Speaker 1: and the vendor, the agent says to the vendor, look, 228 00:12:47,240 --> 00:12:49,720 Speaker 1: we're going to put some advertising on realested dot com 229 00:12:50,000 --> 00:12:53,520 Speaker 1: domain domain or wherever. By the way, we recommend you 230 00:12:53,520 --> 00:12:57,360 Speaker 1: put a little bit onto ORI's posting. Yes and so, 231 00:12:58,120 --> 00:13:01,040 Speaker 1: and this is our budget for advertising. Is what we 232 00:13:01,160 --> 00:13:03,880 Speaker 1: recommend to you to the vendor. And then it was 233 00:13:03,920 --> 00:13:06,480 Speaker 1: fifty grand or something. The vindows are great worries. Dick 234 00:13:06,720 --> 00:13:09,840 Speaker 1: pays fifty grand. They book, someone comes out and takes 235 00:13:09,840 --> 00:13:13,480 Speaker 1: photographs yep. And then they distribute the photographs to you 236 00:13:13,679 --> 00:13:14,520 Speaker 1: to us yep. 237 00:13:14,640 --> 00:13:19,959 Speaker 2: So we will receive the photos, receive the price guide, address, 238 00:13:20,040 --> 00:13:22,520 Speaker 2: bed bath, cart age, and contact. That's it. That's just 239 00:13:22,520 --> 00:13:27,480 Speaker 2: the key details. And what's interesting though, is that we 240 00:13:27,559 --> 00:13:29,880 Speaker 2: receive those properties from the agent once they receive the 241 00:13:29,920 --> 00:13:33,720 Speaker 2: high raise images and all that. But we get so 242 00:13:33,840 --> 00:13:36,880 Speaker 2: many requests from vendors directly through the page to say 243 00:13:36,880 --> 00:13:39,320 Speaker 2: how do we get on here? Which is interesting to 244 00:13:39,360 --> 00:13:44,320 Speaker 2: me because vendors following means when they sell, they become buyers, 245 00:13:44,440 --> 00:13:47,240 Speaker 2: and these buyers are following, and I know for a 246 00:13:47,280 --> 00:13:50,479 Speaker 2: fact that they are, Like there was an interesting statistic 247 00:13:50,520 --> 00:13:54,600 Speaker 2: that we had where it was eighty percent of properties 248 00:13:54,640 --> 00:13:56,960 Speaker 2: in belvy Hill that sold over thirty mil were either 249 00:13:57,000 --> 00:14:00,160 Speaker 2: bought or sold by follower of the page million. All 250 00:14:00,200 --> 00:14:04,400 Speaker 2: these things Sidney, So that's very you're in front of 251 00:14:04,400 --> 00:14:08,960 Speaker 2: the right audience. And so back to the point that 252 00:14:09,200 --> 00:14:12,560 Speaker 2: vendors reaching out to advertise is really key thing for me, 253 00:14:12,600 --> 00:14:14,920 Speaker 2: and I think it's super valuable because it shows that 254 00:14:14,960 --> 00:14:17,440 Speaker 2: they're watching and they want their property there. But now 255 00:14:17,480 --> 00:14:19,680 Speaker 2: that we are on the budgets, we get that consistent 256 00:14:19,800 --> 00:14:23,280 Speaker 2: flow from the agents as they list properties. 257 00:14:23,400 --> 00:14:26,800 Speaker 1: So in terms of your business model, do you have 258 00:14:26,800 --> 00:14:30,600 Speaker 1: have you had to bring in business development manager of BDMS? 259 00:14:30,600 --> 00:14:32,960 Speaker 1: What do you want to call them to go on 260 00:14:32,960 --> 00:14:34,720 Speaker 1: to all the agents and say, here's our rate card, 261 00:14:35,720 --> 00:14:38,960 Speaker 1: these are numbers, this is what we do. View advertise 262 00:14:39,000 --> 00:14:44,360 Speaker 1: on our on our in our these are posts. I 263 00:14:44,480 --> 00:14:47,040 Speaker 1: presume your post on the page you're not running the 264 00:14:47,080 --> 00:14:48,040 Speaker 1: one stories winging on that. 265 00:14:48,120 --> 00:14:50,320 Speaker 2: Yeah, we do stories as well. It's a post and story. 266 00:14:50,520 --> 00:14:53,840 Speaker 2: And so, because I've been doing it for so long, 267 00:14:53,880 --> 00:14:56,880 Speaker 2: I developed good relationships with all the agents in the 268 00:14:56,920 --> 00:14:59,800 Speaker 2: early days because social media was kind of a novelty 269 00:14:59,840 --> 00:15:02,960 Speaker 2: back then advertising on their real estate. So I became 270 00:15:02,960 --> 00:15:06,160 Speaker 2: good mates with the agents and so we have that 271 00:15:06,320 --> 00:15:08,880 Speaker 2: constant dialogue. I speak to them all every single day. 272 00:15:09,280 --> 00:15:11,920 Speaker 2: So in terms of our pricing and things like that, 273 00:15:12,040 --> 00:15:16,120 Speaker 2: or we only charged about five years in, we really 274 00:15:16,120 --> 00:15:18,400 Speaker 2: built up the following and then it was able to 275 00:15:18,440 --> 00:15:22,040 Speaker 2: be monetized, and then at that point we said, okay, 276 00:15:22,040 --> 00:15:24,120 Speaker 2: this is what we're going to charge. Each year, there 277 00:15:24,160 --> 00:15:27,920 Speaker 2: have been incremental increases. I actually don't like to increase 278 00:15:27,960 --> 00:15:31,880 Speaker 2: prices too much, but there's been incremental increases, and I 279 00:15:32,000 --> 00:15:35,000 Speaker 2: want to always deliver it, deliver a commensate, commensurate around 280 00:15:35,000 --> 00:15:38,760 Speaker 2: of value for that increase. But in terms of business 281 00:15:38,800 --> 00:15:41,640 Speaker 2: development and sales, I've really got none of that. I've 282 00:15:41,680 --> 00:15:46,160 Speaker 2: got full staff total plus many and it's really just 283 00:15:46,560 --> 00:15:48,400 Speaker 2: the agent saying, what's your price. This is it. We 284 00:15:48,480 --> 00:15:50,320 Speaker 2: send a media kid out, send that pricing out, and 285 00:15:50,320 --> 00:15:53,120 Speaker 2: that's it. They put it on their budget and we 286 00:15:53,280 --> 00:15:57,120 Speaker 2: go from there. Low overheads, low overheads, yea, but that 287 00:15:57,200 --> 00:16:00,400 Speaker 2: allows me to keep prices down to Yeah, also makes 288 00:16:00,440 --> 00:16:02,840 Speaker 2: it much more attractive than to the vendors agent. 289 00:16:03,040 --> 00:16:05,280 Speaker 1: Yes, mind you a lot of these places, as you say, 290 00:16:05,320 --> 00:16:07,920 Speaker 1: they're selling selling for ten plus. Yes, they're not that 291 00:16:08,040 --> 00:16:09,520 Speaker 1: sensitive to the advertising cost. 292 00:16:09,760 --> 00:16:09,960 Speaker 2: Yeah. 293 00:16:10,440 --> 00:16:14,160 Speaker 1: Yeah, like it's not the bigger deal, yeah, because they 294 00:16:14,160 --> 00:16:16,080 Speaker 1: were for a start, they're going to be paying between 295 00:16:16,160 --> 00:16:18,840 Speaker 1: one and two percent commission to the vendor, ay to 296 00:16:18,880 --> 00:16:23,560 Speaker 1: the agent anyway somewhere around there. So like that in 297 00:16:23,600 --> 00:16:26,040 Speaker 1: itself is a huge amount of money if you're selling 298 00:16:26,080 --> 00:16:28,440 Speaker 1: something for twenty million. So whether or not you've got 299 00:16:28,440 --> 00:16:30,920 Speaker 1: to pony up on a little bit of money to 300 00:16:31,000 --> 00:16:35,480 Speaker 1: go on, you know, onto your Instagram page, that's pretty amazing. 301 00:16:36,040 --> 00:16:37,960 Speaker 1: How did you manage to come up with the name 302 00:16:38,160 --> 00:16:41,560 Speaker 1: Millionaire Listings? And when? How did you get that name? 303 00:16:41,600 --> 00:16:43,920 Speaker 1: But I'm sure I can't believe it. No one has 304 00:16:43,920 --> 00:16:44,240 Speaker 1: owned it. 305 00:16:44,360 --> 00:16:47,040 Speaker 2: Yeah, yeah, so it's I couldn't believe it. When I 306 00:16:47,120 --> 00:16:51,840 Speaker 2: registered it those years ago, it was readily available. And 307 00:16:52,040 --> 00:16:55,040 Speaker 2: I was a big fan of the show Osies, et cetera. 308 00:16:55,360 --> 00:16:56,800 Speaker 1: And did you watch that show? Yeah? 309 00:16:56,840 --> 00:16:57,480 Speaker 2: I watched that show. 310 00:16:57,760 --> 00:16:59,480 Speaker 1: Was that a source of inspiration for you? 311 00:16:59,640 --> 00:17:02,280 Speaker 2: It was in a sense like I just I saw 312 00:17:02,280 --> 00:17:03,560 Speaker 2: it and I watched it. I thought, okay, it's a 313 00:17:03,560 --> 00:17:07,280 Speaker 2: good show. It doesn't exist in Australia. In Sydney. It 314 00:17:07,320 --> 00:17:10,200 Speaker 2: didn't exist in Australia and it still doesn't other than 315 00:17:10,240 --> 00:17:12,760 Speaker 2: my page, and so I thought I'll just register it 316 00:17:12,800 --> 00:17:16,560 Speaker 2: and start my own thing here. So yeah, you could 317 00:17:16,560 --> 00:17:18,840 Speaker 2: say it's a source of inspiration, but I just thought 318 00:17:18,840 --> 00:17:21,600 Speaker 2: it was a great name. It's a million dollar listing. 319 00:17:21,600 --> 00:17:22,240 Speaker 2: It's catchy. 320 00:17:22,680 --> 00:17:25,960 Speaker 1: Yeah, mind you, it should be multimillion dollars listings. Yea, 321 00:17:26,359 --> 00:17:30,280 Speaker 1: everything everyone in definitely Sydney. Everything's a million dollar. The 322 00:17:30,320 --> 00:17:31,760 Speaker 1: average house is a million and a half. I think 323 00:17:31,800 --> 00:17:32,280 Speaker 1: one pix. 324 00:17:32,440 --> 00:17:32,600 Speaker 2: You know. 325 00:17:32,680 --> 00:17:35,080 Speaker 1: Last yesterday I was in Melbourne and it's funny you 326 00:17:35,520 --> 00:17:40,080 Speaker 1: should be talking about how Marcus have responded more recently. 327 00:17:40,160 --> 00:17:44,000 Speaker 1: But they were telling me that these guys are real estate. 328 00:17:44,240 --> 00:17:45,680 Speaker 1: In fact, the guy was a valuer that I was 329 00:17:45,760 --> 00:17:48,200 Speaker 1: dealing with and a big value down and he said 330 00:17:48,240 --> 00:17:49,800 Speaker 1: to me that a lot of the places down in 331 00:17:49,840 --> 00:17:52,160 Speaker 1: Melbourne are not getting the valuations, particularly in the place 332 00:17:52,240 --> 00:17:54,920 Speaker 1: like the Mornington potinsulas in place they're great places, but 333 00:17:55,560 --> 00:17:57,560 Speaker 1: no one actually lives in them. It's more of a 334 00:17:57,640 --> 00:18:00,520 Speaker 1: weekend to type deal. And they, he said, we places 335 00:18:00,560 --> 00:18:02,440 Speaker 1: for sale down there and they just sit on the 336 00:18:02,840 --> 00:18:06,000 Speaker 1: sit on the listing pages with ages for ages don't 337 00:18:06,000 --> 00:18:10,600 Speaker 1: don't sell. He said, they've actually sort of dropped in valuations. 338 00:18:11,840 --> 00:18:13,480 Speaker 1: We don't seem to have anything like that in New 339 00:18:13,520 --> 00:18:15,760 Speaker 1: South Wales. Nothing seems to be affected like that here, 340 00:18:15,920 --> 00:18:19,840 Speaker 1: particularly here in Sydney. How important do you think it 341 00:18:19,960 --> 00:18:24,560 Speaker 1: is in attracting particularly international interest, How important it is 342 00:18:24,680 --> 00:18:29,520 Speaker 1: to have a government in a state that doesn't want 343 00:18:29,520 --> 00:18:31,159 Speaker 1: to throw the baby out of the bath water light? 344 00:18:31,200 --> 00:18:34,040 Speaker 1: They having Victoria, you know, like this land tax of 345 00:18:34,280 --> 00:18:37,800 Speaker 1: over fifty thousand dollars land value land tax. Then they've 346 00:18:37,800 --> 00:18:40,000 Speaker 1: got a whole lot of other taxes there to prosperity taxes. 347 00:18:40,000 --> 00:18:41,520 Speaker 1: They've got a whole series of taxes there, part from 348 00:18:41,520 --> 00:18:45,679 Speaker 1: the stems and it's investors have gone, I'm not going there, 349 00:18:45,720 --> 00:18:49,159 Speaker 1: I'm not spending money there. How important is it has 350 00:18:49,240 --> 00:18:54,360 Speaker 1: it been for your rise to this very successful rise, 351 00:18:54,720 --> 00:18:56,240 Speaker 1: for you to be operating in a state like New 352 00:18:56,280 --> 00:18:56,800 Speaker 1: South Wales. 353 00:18:57,160 --> 00:19:00,359 Speaker 2: Yeah, I think it's okay. So I just went to 354 00:19:00,400 --> 00:19:02,479 Speaker 2: Melbourne a few weeks ago and they were saying exactly 355 00:19:02,560 --> 00:19:06,280 Speaker 2: what you said. And there is such an animosity towards 356 00:19:06,320 --> 00:19:08,760 Speaker 2: the government over there because since COVID they said they 357 00:19:08,920 --> 00:19:11,320 Speaker 2: just ruined our market, They've ruined Melbourne. 358 00:19:11,359 --> 00:19:13,600 Speaker 1: They will say, well, they borrowed heaps of money, they've 359 00:19:13,640 --> 00:19:18,320 Speaker 1: lost their international rating agencies ratings. The government has to 360 00:19:18,400 --> 00:19:20,280 Speaker 1: borrow more money, therefore us to pay more interest because 361 00:19:20,320 --> 00:19:23,119 Speaker 1: the rating is the rating of the government. Yes, office 362 00:19:23,119 --> 00:19:26,800 Speaker 1: has been reduced. They've got taxes everywhere and they've got 363 00:19:26,840 --> 00:19:29,280 Speaker 1: people leaving their joint and drives. But that's the thing 364 00:19:29,440 --> 00:19:31,720 Speaker 1: and that but they still keept getting voted in, which 365 00:19:31,720 --> 00:19:32,760 Speaker 1: is the most surprising part. 366 00:19:33,040 --> 00:19:36,399 Speaker 2: But there is just an overwhelming I'm sure Sydney is 367 00:19:36,440 --> 00:19:39,080 Speaker 2: so much better than Melbourne, but an overwhelming amount of 368 00:19:39,200 --> 00:19:44,119 Speaker 2: tax is so it's actually debilitating because like even in 369 00:19:44,160 --> 00:19:47,440 Speaker 2: Sydney and at standard, you've got your quarterly does GST, 370 00:19:48,119 --> 00:19:51,600 Speaker 2: you get your income tax, you pay GST and you're 371 00:19:51,600 --> 00:19:54,320 Speaker 2: pay invoices, you pay your council rates and all these things. 372 00:19:54,840 --> 00:19:58,479 Speaker 2: It can be quite overwhelming. And I think a government 373 00:19:58,520 --> 00:20:00,960 Speaker 2: that is supportive of people that are actually out there 374 00:20:01,080 --> 00:20:05,399 Speaker 2: doing things and having a crack that's so important it's inspiring, 375 00:20:05,560 --> 00:20:08,960 Speaker 2: it facilitates growth, and it gives you purpose. If you're 376 00:20:09,040 --> 00:20:12,480 Speaker 2: going out there doing something and you're not getting bloody 377 00:20:12,600 --> 00:20:16,880 Speaker 2: taxed to death, you need that to grite. 378 00:20:16,680 --> 00:20:21,840 Speaker 1: Because a lot of you are your vendors generally speaking Australians, 379 00:20:21,880 --> 00:20:25,520 Speaker 1: I mean like they because of it, or are they 380 00:20:26,520 --> 00:20:29,480 Speaker 1: like a lot of people from overseas who've decided to sell. 381 00:20:29,760 --> 00:20:31,920 Speaker 1: And therefore I would ask the question, do you to 382 00:20:32,040 --> 00:20:33,919 Speaker 1: this tent? You know, are the buyers coming from overseas? 383 00:20:34,040 --> 00:20:37,240 Speaker 2: Yes? Yes, so okay, there's a lot of people in Australia, 384 00:20:37,240 --> 00:20:40,760 Speaker 2: a lot of vendors and buyers in Australia that subscribe, 385 00:20:41,240 --> 00:20:43,960 Speaker 2: but there are so many from overseas as well. I'll 386 00:20:44,000 --> 00:20:46,960 Speaker 2: get a call a monthly from someone in London saying 387 00:20:47,040 --> 00:20:49,919 Speaker 2: I own a house in Rose Bay, I'm working in London. 388 00:20:50,200 --> 00:20:53,560 Speaker 2: We want to feature on the site. So there's so 389 00:20:53,680 --> 00:20:58,320 Speaker 2: many times where a buyer from Singapore or overseas comes 390 00:20:58,359 --> 00:21:00,639 Speaker 2: from the page as well, and it's the beauty of 391 00:21:00,720 --> 00:21:03,800 Speaker 2: social media. They may not be and I have the 392 00:21:03,840 --> 00:21:07,240 Speaker 2: greatest respect for the major portals, but they may not 393 00:21:07,359 --> 00:21:11,720 Speaker 2: be searching on those portals Belby Hill or even Southern 394 00:21:11,800 --> 00:21:15,080 Speaker 2: Highlands but they're on social media and the property is 395 00:21:15,119 --> 00:21:16,879 Speaker 2: brought to them and they think I didn't know I 396 00:21:17,000 --> 00:21:19,960 Speaker 2: wanted something like this. So that's the beauty of social 397 00:21:20,000 --> 00:21:24,920 Speaker 2: media's you can you can go over the geographic borders 398 00:21:25,200 --> 00:21:28,320 Speaker 2: and just push things globally and they see it and 399 00:21:28,400 --> 00:21:29,040 Speaker 2: they act on it. 400 00:21:29,880 --> 00:21:36,120 Speaker 1: Yeah, if I how do you you mentioned subscriptions people 401 00:21:36,200 --> 00:21:40,960 Speaker 1: who are on your postings? Who are your posting Subscribers 402 00:21:41,160 --> 00:21:44,960 Speaker 1: is followers follow us, not subscribers as it, followers that 403 00:21:45,200 --> 00:21:47,640 Speaker 1: think you've built some other sort of model. Subscription model 404 00:21:48,600 --> 00:21:50,560 Speaker 1: follow us. So yeah, because it's very easy. If I'm 405 00:21:50,600 --> 00:21:52,040 Speaker 1: living in London, I've got a probably in Rose Bay, 406 00:21:52,080 --> 00:21:54,159 Speaker 1: and I'm now decide I don't need anyone because I 407 00:21:54,160 --> 00:21:56,120 Speaker 1: want to live over there for the rest of my life. 408 00:21:56,680 --> 00:22:00,680 Speaker 1: I'm just following your page, so you're updating me every 409 00:22:00,760 --> 00:22:03,639 Speaker 1: day as to what's going on. You're not only and 410 00:22:03,760 --> 00:22:06,600 Speaker 1: by the way, some of the big portals like you know, 411 00:22:06,720 --> 00:22:11,680 Speaker 1: domain and rested dot com, they're very busy, very busy, 412 00:22:11,800 --> 00:22:15,760 Speaker 1: and they're sort of quite noisy, whereas you're just Sydney 413 00:22:16,080 --> 00:22:20,879 Speaker 1: very much in Southern Highlands. But it's sort of just simpler. 414 00:22:21,160 --> 00:22:22,800 Speaker 1: I mean, you're having times a dare you post? 415 00:22:23,119 --> 00:22:25,520 Speaker 2: We make it out about ten to day, so. 416 00:22:25,560 --> 00:22:27,879 Speaker 1: I'm only getting ten. So whereas if I go on 417 00:22:27,960 --> 00:22:29,960 Speaker 1: to one of the big portals, I got to put 418 00:22:30,040 --> 00:22:32,480 Speaker 1: in my search and I go or I can, I 419 00:22:32,520 --> 00:22:34,440 Speaker 1: can actually you know, get it to ping me. But 420 00:22:34,560 --> 00:22:36,040 Speaker 1: it doesn't matter that I put in a search and 421 00:22:36,040 --> 00:22:38,840 Speaker 1: I've got to sort of go through everything, and it's 422 00:22:38,880 --> 00:22:42,000 Speaker 1: a bit it's not a haushole. But yours is more, 423 00:22:42,200 --> 00:22:44,880 Speaker 1: You're more Yours are more sort of very targeted. 424 00:22:45,000 --> 00:22:47,640 Speaker 2: Yes, it's more curated and target totally. 425 00:22:47,480 --> 00:22:51,280 Speaker 1: Curated and completely targeted. Do I if I'm looking at 426 00:22:51,320 --> 00:22:53,040 Speaker 1: it and I'm living in London, I'm that person and 427 00:22:53,119 --> 00:22:55,520 Speaker 1: I'm potentially going to buy something in Sydney because I 428 00:22:55,680 --> 00:22:58,359 Speaker 1: know I'm wanting to send my family to there some 429 00:22:58,440 --> 00:23:02,840 Speaker 1: m kids go to school and Rose Bay wherever am 430 00:23:02,880 --> 00:23:07,280 Speaker 1: I would I be fairly confident that I'm seeing most 431 00:23:07,359 --> 00:23:09,440 Speaker 1: of the properties that are being that are for sale 432 00:23:09,480 --> 00:23:11,399 Speaker 1: in the area that I'm not missing out because I 433 00:23:11,440 --> 00:23:12,720 Speaker 1: don't go on a real estate dot comm or I 434 00:23:12,760 --> 00:23:13,840 Speaker 1: don't go on to domain. 435 00:23:13,720 --> 00:23:16,359 Speaker 2: So you definitely you wouldn't be missing out if it 436 00:23:16,400 --> 00:23:18,800 Speaker 2: was ten mili plus where it's on there one million 437 00:23:18,840 --> 00:23:20,720 Speaker 2: dollar listings. Yeah, you're not missing out on that. 438 00:23:21,160 --> 00:23:24,680 Speaker 1: So pretty much everyone the model is every property. So 439 00:23:24,800 --> 00:23:26,920 Speaker 1: do you do You go and scour the other the 440 00:23:27,000 --> 00:23:28,359 Speaker 1: portals and say, hey, I we're not having all this 441 00:23:28,440 --> 00:23:29,760 Speaker 1: property on our pages. 442 00:23:30,000 --> 00:23:31,879 Speaker 2: So back in the day, I would like when I 443 00:23:32,040 --> 00:23:34,879 Speaker 2: was hustling a bit and it was less of a 444 00:23:34,920 --> 00:23:36,560 Speaker 2: business than what it was now, I'd go on there 445 00:23:36,560 --> 00:23:39,200 Speaker 2: and I'd call and say, you know, let's get this 446 00:23:39,320 --> 00:23:41,560 Speaker 2: on here. I can deliver more views than it. 447 00:23:41,640 --> 00:23:42,439 Speaker 1: And you do it for free too. 448 00:23:42,480 --> 00:23:45,720 Speaker 2: Probably yeah, back then I would, but now it doesn't 449 00:23:45,760 --> 00:23:49,399 Speaker 2: happen anymore. You ah, actually haven't done too much marketing 450 00:23:49,520 --> 00:23:53,760 Speaker 2: or sales. It's the marketing for me. It comes from 451 00:23:54,119 --> 00:23:58,840 Speaker 2: delivering a good product and being out there constantly. But 452 00:23:59,480 --> 00:24:02,240 Speaker 2: in terms of calling nowadays, now that we're on the 453 00:24:02,280 --> 00:24:04,920 Speaker 2: budgets and I've got these relations with the agents and 454 00:24:05,000 --> 00:24:07,720 Speaker 2: they're getting results from the page, it's all just coming through, 455 00:24:08,080 --> 00:24:09,040 Speaker 2: which is a good place to be. 456 00:24:09,240 --> 00:24:13,399 Speaker 1: What was how many? So let's say on one page, 457 00:24:13,520 --> 00:24:15,719 Speaker 1: on one post, I should say do you have late 458 00:24:15,800 --> 00:24:17,800 Speaker 1: five photos or just one photo? It can be up 459 00:24:17,840 --> 00:24:20,720 Speaker 1: to twenty images, and put twenty images on so I 460 00:24:20,760 --> 00:24:22,760 Speaker 1: can scroll through. Yes, to have a look at everything. 461 00:24:23,080 --> 00:24:29,280 Speaker 1: So have you learned in this process what vendors should 462 00:24:29,320 --> 00:24:31,760 Speaker 1: be advertising? I don't mean that's probably not look away 463 00:24:31,840 --> 00:24:34,440 Speaker 1: putting it. Are you are you able to say to 464 00:24:34,520 --> 00:24:37,760 Speaker 1: an agent or a vendor, look, this is what works best. Yep, 465 00:24:38,400 --> 00:24:40,359 Speaker 1: show us the kitchen and show us the pool, you know, 466 00:24:40,480 --> 00:24:43,119 Speaker 1: like sometimes you know, I get really annoyed, but sometimes 467 00:24:43,160 --> 00:24:48,160 Speaker 1: I go into an agent's page on real estate dot com, 468 00:24:48,240 --> 00:24:51,680 Speaker 1: for example, and they'll have photographs of a lamp, you know, 469 00:24:51,800 --> 00:24:54,040 Speaker 1: like just I think, well, what are you not telling me? 470 00:24:54,440 --> 00:24:57,440 Speaker 1: Why are you showing me that shit? Yes? What have 471 00:24:57,520 --> 00:25:00,960 Speaker 1: you learned that are the real hot points? Say that 472 00:25:01,119 --> 00:25:03,480 Speaker 1: you could fill out there are ten things or whether 473 00:25:03,520 --> 00:25:06,000 Speaker 1: it is there five non negotiables that must be put 474 00:25:06,040 --> 00:25:06,600 Speaker 1: in the photograph? 475 00:25:06,680 --> 00:25:09,960 Speaker 2: Yeah, I think you'd find that we mostly always lead 476 00:25:10,200 --> 00:25:11,840 Speaker 2: the hero images to the facade. 477 00:25:12,400 --> 00:25:14,359 Speaker 1: But you mean the outside, Yeah, the outside in the 478 00:25:14,400 --> 00:25:16,360 Speaker 1: front of the half the first thing you see, the first. 479 00:25:16,200 --> 00:25:18,600 Speaker 2: Thing you see generally about ninety percent of the time. 480 00:25:19,160 --> 00:25:21,880 Speaker 2: And we've found that that respond that there's a great 481 00:25:21,920 --> 00:25:25,840 Speaker 2: response to that. And it comes back to that curiosity 482 00:25:25,880 --> 00:25:27,480 Speaker 2: when I were driving the street and I think I 483 00:25:27,560 --> 00:25:30,320 Speaker 2: wonder what that's sold for you recognize the facade right 484 00:25:30,359 --> 00:25:32,880 Speaker 2: away and you think, oh, it's that property. Now let's 485 00:25:32,880 --> 00:25:36,680 Speaker 2: see the inside. But if there's a really nice interior, 486 00:25:36,760 --> 00:25:39,480 Speaker 2: designer will lead with an internal shot. But in terms 487 00:25:39,480 --> 00:25:42,320 Speaker 2: of non negotiables, I totally agree that you don't want 488 00:25:42,320 --> 00:25:45,040 Speaker 2: to be seeing a close up of a lamp or 489 00:25:45,080 --> 00:25:48,000 Speaker 2: a close up of the carpet. Yeah, I want to 490 00:25:48,040 --> 00:25:50,480 Speaker 2: see personally the facade. If there's a pool, to see 491 00:25:50,480 --> 00:25:55,560 Speaker 2: the pool, the rear facade, view kitchen, bedrooms, bathrooms, that's 492 00:25:55,560 --> 00:25:58,240 Speaker 2: all the stuff I want to see, and the living 493 00:25:58,320 --> 00:26:00,879 Speaker 2: room space. So as long as there's all of that 494 00:26:01,000 --> 00:26:03,119 Speaker 2: in there, I think it's a it's a go. 495 00:26:03,359 --> 00:26:05,920 Speaker 1: Has there been anything quirky that has in terms of 496 00:26:06,000 --> 00:26:11,240 Speaker 1: how you how a vendor and through your pages presents 497 00:26:11,440 --> 00:26:15,000 Speaker 1: probably any standout or any quirky that you've noticed that Wow, 498 00:26:15,080 --> 00:26:21,120 Speaker 1: that worked that ordinarily you would not have thought of. Yeah, learnings. 499 00:26:21,600 --> 00:26:24,360 Speaker 2: I mean traditionally, if it's a high price point, it's 500 00:26:24,400 --> 00:26:29,560 Speaker 2: going to go nuts the the post. But for the 501 00:26:29,640 --> 00:26:31,880 Speaker 2: lower end ones, it's got to You've got to make 502 00:26:31,920 --> 00:26:35,600 Speaker 2: it kind of interesting. And that comes down to really 503 00:26:35,680 --> 00:26:38,640 Speaker 2: good photography at the end of the day, because we're 504 00:26:38,680 --> 00:26:40,560 Speaker 2: just advertising the materials sent to us. 505 00:26:40,760 --> 00:26:40,960 Speaker 1: Yep. 506 00:26:41,119 --> 00:26:43,960 Speaker 2: So that's why we started getting into the photography, because 507 00:26:44,240 --> 00:26:47,200 Speaker 2: we started noticing the photography is key. It's got to 508 00:26:47,240 --> 00:26:49,520 Speaker 2: be kind of ardy, kind of quirky. 509 00:26:50,320 --> 00:26:53,159 Speaker 1: Here, because you don't want one vendors agent to do 510 00:26:53,480 --> 00:26:56,000 Speaker 1: get their photographer to take up who might be a 511 00:26:56,040 --> 00:26:58,720 Speaker 1: great photographer and that looks really good on one post, 512 00:26:58,760 --> 00:27:01,639 Speaker 1: and then another vendors agent it's got a crappy photographer exactly, 513 00:27:01,720 --> 00:27:03,400 Speaker 1: and because that affects the quality your paper. 514 00:27:03,400 --> 00:27:04,960 Speaker 2: But that's it, that's it, exactly. 515 00:27:05,080 --> 00:27:07,520 Speaker 1: So what what have you learned then for I mean, 516 00:27:07,560 --> 00:27:09,240 Speaker 1: do you say to the vendors edge of this, this 517 00:27:09,320 --> 00:27:11,800 Speaker 1: is the photographers you should use or how does it work? Yeah? 518 00:27:11,840 --> 00:27:15,320 Speaker 2: Yeah, So for the standard we've got prices that range 519 00:27:15,359 --> 00:27:18,760 Speaker 2: from five hundred and fifty dollars to twenty thousand dollars. 520 00:27:19,240 --> 00:27:23,479 Speaker 2: For those top end packages, we will say to the vendor, 521 00:27:24,440 --> 00:27:27,720 Speaker 2: we're going to organize photographers and do it ourselves and 522 00:27:27,840 --> 00:27:30,000 Speaker 2: do the advertising for you. That way, we have a 523 00:27:30,040 --> 00:27:33,639 Speaker 2: bit of quality control for that lesser price point of 524 00:27:33,720 --> 00:27:36,840 Speaker 2: the five hundred and fifty, say, and the materials sent 525 00:27:36,920 --> 00:27:39,760 Speaker 2: to us, the agents kind of feel to the property 526 00:27:39,800 --> 00:27:43,600 Speaker 2: for us they will submit a great property most of 527 00:27:43,640 --> 00:27:49,000 Speaker 2: the time, and even if for me, again, if it's 528 00:27:49,040 --> 00:27:53,000 Speaker 2: a lesser attractive property but it's an interesting sale. It 529 00:27:53,080 --> 00:27:55,399 Speaker 2: could even be one million dollar sale of a terrace 530 00:27:55,440 --> 00:27:59,159 Speaker 2: in Bonda Junction call it and it's quite unattractive, or 531 00:27:59,200 --> 00:28:01,720 Speaker 2: it's a bit derely, that's interesting to me because I 532 00:28:01,800 --> 00:28:04,480 Speaker 2: could I could think of that as a flip opportunity. 533 00:28:04,880 --> 00:28:07,880 Speaker 2: Or if that terrorist gets one, then this fully renovated 534 00:28:07,920 --> 00:28:11,200 Speaker 2: one in Paddington should get five. Kind of thing. So 535 00:28:12,480 --> 00:28:15,920 Speaker 2: the lesser attractive stuff can actually do well if it's 536 00:28:15,960 --> 00:28:17,800 Speaker 2: got a uniqueness to it, if it's kind of an 537 00:28:17,920 --> 00:28:21,960 Speaker 2: uninhabitable property and people think, oh gosh, well the potential. 538 00:28:21,560 --> 00:28:23,920 Speaker 1: There, or renovator his dream, renovator's dream, they. 539 00:28:23,920 --> 00:28:25,360 Speaker 2: Think how did it get all that money and they're 540 00:28:25,359 --> 00:28:29,520 Speaker 2: freaking out, or you know, renovator's dream. The potential of 541 00:28:29,600 --> 00:28:32,440 Speaker 2: this thing. It could be worth x amount of money 542 00:28:32,480 --> 00:28:36,680 Speaker 2: after I renovate it. So there is we do like 543 00:28:36,760 --> 00:28:38,720 Speaker 2: to curate and have a really nice and good looking 544 00:28:39,720 --> 00:28:44,040 Speaker 2: but the unattractive ones together with an interesting number, interesting 545 00:28:44,120 --> 00:28:47,560 Speaker 2: sale or interesting price guide can fly and really do well. 546 00:28:47,720 --> 00:28:48,560 Speaker 1: So he still will do it. 547 00:28:48,680 --> 00:28:49,640 Speaker 2: You never still do it. 548 00:28:49,760 --> 00:28:51,600 Speaker 1: You still do a million dollars two million dollar type 549 00:28:51,600 --> 00:28:55,760 Speaker 1: deals and so like you're a young fellow doing well. 550 00:28:55,920 --> 00:29:00,400 Speaker 1: I'd imagine you're saved a few bucks. Where where do 551 00:29:00,520 --> 00:29:02,600 Speaker 1: you buy in Sydney? I mean, what do you do? 552 00:29:03,280 --> 00:29:06,719 Speaker 2: So I recently my most recent purchase was the Piccolo 553 00:29:06,800 --> 00:29:11,760 Speaker 2: Bar and in the Cross. It's the oldest bar or 554 00:29:12,000 --> 00:29:14,960 Speaker 2: coffee shop in the Cross. Yeah, but I didn't buy 555 00:29:15,000 --> 00:29:18,200 Speaker 2: the business, it was the property. I mean, I love 556 00:29:18,280 --> 00:29:20,760 Speaker 2: pots Point and the Cross. I think it's great. My 557 00:29:21,440 --> 00:29:24,719 Speaker 2: now fiance lives here. I live in Bondai. I love Bondai, 558 00:29:25,040 --> 00:29:26,880 Speaker 2: going to the beach in the morning and then coming 559 00:29:26,920 --> 00:29:30,600 Speaker 2: here for dinner or whatever. It's a good lifestyle. But 560 00:29:30,840 --> 00:29:36,280 Speaker 2: for me, near the train station is great. Near the 561 00:29:36,360 --> 00:29:39,440 Speaker 2: beach is good. So that's what I like. 562 00:29:39,520 --> 00:29:39,800 Speaker 1: I like. 563 00:29:40,440 --> 00:29:43,719 Speaker 2: I like properties that I can drive past and visits 564 00:29:43,760 --> 00:29:46,240 Speaker 2: and walk past when I'm going for a walk. 565 00:29:46,320 --> 00:29:50,080 Speaker 1: So so you rate, you rate King's Cross, pots Point? 566 00:29:50,120 --> 00:29:53,760 Speaker 1: I think around this where we are right now, and 567 00:29:53,880 --> 00:29:56,200 Speaker 1: by the way, so do I. I'm a I'm a 568 00:29:56,240 --> 00:29:58,440 Speaker 1: bit of property ready, as does your father in law. 569 00:29:58,600 --> 00:30:01,680 Speaker 1: In fact, he and I a couple of times have 570 00:30:01,760 --> 00:30:04,400 Speaker 1: competed on a few properties around here. Yeah, so I 571 00:30:04,640 --> 00:30:08,360 Speaker 1: actually try to buy the one up up there in 572 00:30:08,440 --> 00:30:13,400 Speaker 1: King's Cross that what's that business he's got there? He 573 00:30:13,560 --> 00:30:14,760 Speaker 1: leases our rooms? 574 00:30:15,000 --> 00:30:16,440 Speaker 2: Oh yeah, yeah with the coffee shop. 575 00:30:16,880 --> 00:30:19,240 Speaker 1: Yeah yeah, I tried to buy that, but he bought it. 576 00:30:19,320 --> 00:30:21,600 Speaker 1: And then and then he and I both try to 577 00:30:21,640 --> 00:30:24,240 Speaker 1: buy a pub down the road here recently in Darlings 578 00:30:24,920 --> 00:30:27,880 Speaker 1: in Liverpool Street on the corner of that. But your 579 00:30:28,120 --> 00:30:30,520 Speaker 1: father or your potential your future father, and I should 580 00:30:30,520 --> 00:30:35,680 Speaker 1: say he did not offer enough, and I often enough, 581 00:30:35,720 --> 00:30:37,360 Speaker 1: but I stuffed around and someone else got it from 582 00:30:37,400 --> 00:30:41,040 Speaker 1: both of us. Interesting, Yeah, yeah, yeah, I don't think. 583 00:30:41,480 --> 00:30:44,040 Speaker 1: I don't think if I realized, I was one of 584 00:30:44,080 --> 00:30:46,880 Speaker 1: the bitterest. But so because we love this ERAa, I 585 00:30:46,960 --> 00:30:49,320 Speaker 1: love this area. He does too, particularly love he loves 586 00:30:49,320 --> 00:30:52,760 Speaker 1: Oxford Street. But this area is fantastic. Yes, why do 587 00:30:52,880 --> 00:30:55,640 Speaker 1: you think? Why? What are the hallmarks of what you 588 00:30:55,840 --> 00:30:58,920 Speaker 1: considered to be an area that is worth investing in? 589 00:30:59,120 --> 00:31:00,920 Speaker 1: So what do you are you talking about? You talking 590 00:31:00,920 --> 00:31:09,360 Speaker 1: about position, population, demand, socio economics. Closest to the city 591 00:31:09,400 --> 00:31:11,400 Speaker 1: puts inmity and then it is what are you looking at? 592 00:31:11,600 --> 00:31:15,120 Speaker 2: So the Piccolo's a commercial property, So for me, density 593 00:31:15,200 --> 00:31:17,520 Speaker 2: and a lot of residents. I think is great in 594 00:31:17,680 --> 00:31:20,680 Speaker 2: terms of if that tenant ever left, least ability would 595 00:31:20,720 --> 00:31:24,160 Speaker 2: be good. It would be achievable because there's so many 596 00:31:24,240 --> 00:31:27,520 Speaker 2: people and the business wants to be that. But what 597 00:31:27,640 --> 00:31:29,560 Speaker 2: I'm really looking at now is, so I live in 598 00:31:29,600 --> 00:31:32,920 Speaker 2: Bondai to drive to visit my fiance and Potts Point, 599 00:31:33,280 --> 00:31:36,880 Speaker 2: there is so much traffic in Rose Bay, New South that's. 600 00:31:36,840 --> 00:31:40,000 Speaker 1: Out of control. It's actually especially between school hours, yes, 601 00:31:40,320 --> 00:31:43,040 Speaker 1: morning and afternoon, it's shocking. And there's so many traders 602 00:31:43,080 --> 00:31:45,200 Speaker 1: out there. It is out of control. 603 00:31:45,280 --> 00:31:48,160 Speaker 2: It's out of control. And so that concerns me a 604 00:31:48,200 --> 00:31:50,280 Speaker 2: little bit. Like one of the things, one of the 605 00:31:50,360 --> 00:31:54,040 Speaker 2: reasons I would potentially leave that area is because of 606 00:31:54,080 --> 00:31:59,640 Speaker 2: that traffic and those new zoning laws aren't helping. The 607 00:31:59,800 --> 00:32:03,840 Speaker 2: high rise apartments is going to be massive over well 608 00:32:03,920 --> 00:32:06,440 Speaker 2: not may not be an over supply, but a massive supply, but. 609 00:32:06,400 --> 00:32:07,840 Speaker 1: It's going to be a whole lot more people. Yes, 610 00:32:07,960 --> 00:32:08,760 Speaker 1: that's going to be the issue. 611 00:32:08,840 --> 00:32:15,440 Speaker 2: Yes, And so that like so traffic number one. Pots 612 00:32:15,480 --> 00:32:17,240 Speaker 2: Point proximity to the city is good. When I was 613 00:32:17,280 --> 00:32:19,880 Speaker 2: practicing as a lawyer, I caught the train every day. 614 00:32:19,960 --> 00:32:23,120 Speaker 1: You can walk to Yes on a cool day, not today, 615 00:32:23,160 --> 00:32:24,960 Speaker 1: but on a nice winter's day you can walk easy. 616 00:32:25,160 --> 00:32:27,880 Speaker 2: Yes, So I think proximity to the city is great. 617 00:32:29,360 --> 00:32:33,000 Speaker 2: Again back to Bondo though the beach, I love it, 618 00:32:33,120 --> 00:32:35,320 Speaker 2: Like I go every morning walk there and get my 619 00:32:35,400 --> 00:32:37,160 Speaker 2: coffee there. I just think it's great. 620 00:32:37,440 --> 00:32:39,320 Speaker 1: But if you that's okay if you work from home, 621 00:32:39,680 --> 00:32:43,160 Speaker 1: but if you're going to schlep into the city every day, yeah, 622 00:32:43,240 --> 00:32:49,080 Speaker 1: it's that's a punish. I'm totally on side with that, 623 00:32:49,240 --> 00:32:53,080 Speaker 1: the whole proposition. I mean, the best best of worlds 624 00:32:53,120 --> 00:32:55,640 Speaker 1: would be have a place around here, somewhere Darling As, 625 00:32:55,680 --> 00:32:58,120 Speaker 1: Pots Point, Kings Cross, whatever, and then have a place 626 00:32:58,160 --> 00:32:59,720 Speaker 1: there for the weekend. We just go home on the 627 00:32:59,720 --> 00:33:02,440 Speaker 1: weekend and go to the beach for sure, But the 628 00:33:02,520 --> 00:33:04,120 Speaker 1: best world would be to do one of the both. 629 00:33:04,160 --> 00:33:05,880 Speaker 1: But if you had to make a choice, I just 630 00:33:06,000 --> 00:33:09,520 Speaker 1: think time saved is really important these days, especially if 631 00:33:09,520 --> 00:33:10,320 Speaker 1: you have to work in the city. 632 00:33:10,720 --> 00:33:11,080 Speaker 2: Totally. 633 00:33:11,320 --> 00:33:15,000 Speaker 1: Yeah, so that's that's very interesting. So so proximity is 634 00:33:15,040 --> 00:33:18,000 Speaker 1: a big deal for you location and it's not like 635 00:33:18,080 --> 00:33:20,200 Speaker 1: you're moving out you know that's going to take you 636 00:33:20,360 --> 00:33:21,880 Speaker 1: an hour to get to the beach from Like if 637 00:33:21,880 --> 00:33:23,720 Speaker 1: you're here, living here and you want to go to 638 00:33:23,720 --> 00:33:26,640 Speaker 1: the beach. You can be there in fifteen minutes on 639 00:33:26,760 --> 00:33:27,440 Speaker 1: a normal. 640 00:33:27,240 --> 00:33:31,520 Speaker 2: Day, Yes, in half an hour, just just about the move. 641 00:33:31,720 --> 00:33:37,640 Speaker 1: So ari given that co stars just bought Domain, yes 642 00:33:37,800 --> 00:33:44,080 Speaker 1: for a big number, and real estate real estate dot Com, 643 00:33:44,160 --> 00:33:48,680 Speaker 1: which is like you know, the eight hundred pound guerilla 644 00:33:48,720 --> 00:33:53,400 Speaker 1: here in Australia, you know, has massive market share backed 645 00:33:53,440 --> 00:33:59,000 Speaker 1: by a news corps here. This sort of got a 646 00:33:59,040 --> 00:34:02,360 Speaker 1: great business but relative to you a little and you're 647 00:34:02,400 --> 00:34:07,520 Speaker 1: sort of floating around there. At what point would some 648 00:34:07,640 --> 00:34:10,560 Speaker 1: of my co star who's just bought Domain, who's very inquisitive, 649 00:34:10,840 --> 00:34:12,839 Speaker 1: who wants to beat real estate dot Com, or at 650 00:34:12,880 --> 00:34:15,200 Speaker 1: least recognize her that there's market share to be one. 651 00:34:16,520 --> 00:34:18,799 Speaker 1: Have anyone come and talk to you yet, anyone tap 652 00:34:18,800 --> 00:34:19,360 Speaker 1: you on the shoulder. 653 00:34:19,520 --> 00:34:22,000 Speaker 2: I've had a few, Yeah, I've had a few people 654 00:34:22,239 --> 00:34:26,000 Speaker 2: and like sophisticated investors. And I met with John McGraw 655 00:34:26,040 --> 00:34:28,440 Speaker 2: once and he described my business as a mini aria 656 00:34:28,760 --> 00:34:31,000 Speaker 2: and he was an early investor in Aria. But he said, 657 00:34:31,000 --> 00:34:33,320 Speaker 2: you're a mini aria basically how you put it, and 658 00:34:34,080 --> 00:34:36,440 Speaker 2: there's a massive I don't view myself as a competitor 659 00:34:36,480 --> 00:34:38,400 Speaker 2: to them at all. No, No, I'm a user of them, 660 00:34:38,440 --> 00:34:41,680 Speaker 2: and I'm complimentary to them because, as I said, we 661 00:34:42,080 --> 00:34:45,200 Speaker 2: publish a summary of the details price Guide, et cetera. 662 00:34:45,880 --> 00:34:49,799 Speaker 2: And plenty of agents have said that following your post, 663 00:34:50,040 --> 00:34:53,800 Speaker 2: our increase in inquiry. It comes from the post, but 664 00:34:53,880 --> 00:34:56,560 Speaker 2: there's also an increase in inquiry on domain or real 665 00:34:56,680 --> 00:34:59,560 Speaker 2: estate because people see it on the insta first, on 666 00:34:59,640 --> 00:35:02,120 Speaker 2: the social mena first, and then they search it up 667 00:35:02,160 --> 00:35:04,480 Speaker 2: on Google and either domain of real estate pops up. 668 00:35:04,960 --> 00:35:06,640 Speaker 2: So there is a synergy there, and you get more 669 00:35:06,680 --> 00:35:08,800 Speaker 2: detail once you're on the web, so you get more detail, 670 00:35:10,280 --> 00:35:13,200 Speaker 2: but there is a certain synergy there. And we're doing 671 00:35:13,920 --> 00:35:17,759 Speaker 2: twenty eight million views a month on average, so there 672 00:35:19,280 --> 00:35:22,160 Speaker 2: it's a you know, it's a good suggestion, like if 673 00:35:22,239 --> 00:35:25,120 Speaker 2: we combined forces and they can get an additional twenty 674 00:35:25,160 --> 00:35:28,920 Speaker 2: eight million views which is concentrated on one Sydney platform 675 00:35:29,400 --> 00:35:34,319 Speaker 2: rather than millions of views across Darwin Perth. But it's 676 00:35:34,320 --> 00:35:38,200 Speaker 2: on one platform that's that's powerful for that particular city. 677 00:35:38,280 --> 00:35:40,600 Speaker 1: What do you consider opening up a million million dollar 678 00:35:40,680 --> 00:35:44,560 Speaker 1: listings in say Brisbane, one in Melbourne and one in 679 00:35:45,080 --> 00:35:48,440 Speaker 1: Perth and one in Adelaide. Yes, So that would require 680 00:35:48,560 --> 00:35:49,920 Speaker 1: a capital, that will. 681 00:35:49,760 --> 00:35:53,560 Speaker 2: Require capital and We've recently made a Melbourne move and 682 00:35:54,120 --> 00:35:56,520 Speaker 2: I've got two of the members of staff in Melbourne, 683 00:35:56,960 --> 00:35:59,759 Speaker 2: so we're in Melbourne now as of you know this week. 684 00:35:59,800 --> 00:36:02,600 Speaker 2: Basically because there was a page that was built up 685 00:36:02,640 --> 00:36:06,120 Speaker 2: there and it was a it had most importantly real 686 00:36:06,239 --> 00:36:10,279 Speaker 2: followers on social media. It's a big cowboys. Some people 687 00:36:10,360 --> 00:36:13,879 Speaker 2: can purchase the fake by followers and it's not real 688 00:36:14,200 --> 00:36:17,239 Speaker 2: like that's a it's a fraudulent thing. So when we 689 00:36:17,600 --> 00:36:20,160 Speaker 2: when we partnered and eventually took over this page, made 690 00:36:20,200 --> 00:36:22,640 Speaker 2: sure it was real followers as we do. It was 691 00:36:22,680 --> 00:36:26,239 Speaker 2: built up over eleven years, so that's that's critical. And 692 00:36:27,000 --> 00:36:30,200 Speaker 2: to build up a real following in each suburb requires capital, 693 00:36:30,360 --> 00:36:33,080 Speaker 2: requires the right partnerships, but it's going to happen. And 694 00:36:33,239 --> 00:36:37,239 Speaker 2: even New Zealand and Tasmania, there's plenty of agents there 695 00:36:37,280 --> 00:36:39,480 Speaker 2: and we're advertising a bit of stuff there and the 696 00:36:39,560 --> 00:36:43,360 Speaker 2: response on those properties is so high from Sydney buyers 697 00:36:43,960 --> 00:36:45,680 Speaker 2: that the agents there are saying, you've got to set 698 00:36:45,719 --> 00:36:47,520 Speaker 2: up shop here, will feed you everything. 699 00:36:47,680 --> 00:36:51,520 Speaker 1: So what I mean. One and I introduced you to 700 00:36:51,640 --> 00:36:56,400 Speaker 1: Joe Hockey from Bondo Partners. Now Joe Hockey is was 701 00:36:56,640 --> 00:37:00,200 Speaker 1: still is one of the advisors to the main guy 702 00:37:00,280 --> 00:37:04,000 Speaker 1: behind Coast in the US and Joe, I don't know 703 00:37:04,000 --> 00:37:07,520 Speaker 1: if you know Joe hockey course, so John Joe runs Bondopartners, 704 00:37:07,560 --> 00:37:10,280 Speaker 1: and Bondopartners had a lot to do with the domain 705 00:37:10,320 --> 00:37:16,040 Speaker 1: acquisition for the individual behind Coast in the United States. 706 00:37:16,640 --> 00:37:21,600 Speaker 1: And because if like, maybe you instead, I'm not saying 707 00:37:21,600 --> 00:37:23,400 Speaker 1: you should sell to them, but maybe they would be 708 00:37:23,480 --> 00:37:26,279 Speaker 1: interested to invest with you. Like they might say, well, 709 00:37:26,320 --> 00:37:31,640 Speaker 1: you know what, in order to ramp up domain, men equally, 710 00:37:31,719 --> 00:37:33,520 Speaker 1: you know you can you find your way to the 711 00:37:33,560 --> 00:37:35,600 Speaker 1: real estate of commerce people as well. By the way, 712 00:37:35,640 --> 00:37:38,480 Speaker 1: but if I'm trying to ramp up domain, what I 713 00:37:38,520 --> 00:37:40,040 Speaker 1: would do is I would want to give myself every 714 00:37:40,160 --> 00:37:43,000 Speaker 1: edge there was and I'd love to invest capital into 715 00:37:43,000 --> 00:37:45,080 Speaker 1: a business like you because you're going to run it. 716 00:37:45,320 --> 00:37:46,560 Speaker 1: I'm not going to do it. And you can open 717 00:37:46,640 --> 00:37:48,200 Speaker 1: up every state and they just make sure you just 718 00:37:48,280 --> 00:37:50,000 Speaker 1: for but I would want to exclusive if you deal 719 00:37:50,040 --> 00:37:53,399 Speaker 1: with you with domain. I mean, maybe that's a way 720 00:37:53,440 --> 00:37:55,000 Speaker 1: of building your business up with the putt your hand, 721 00:37:55,040 --> 00:37:58,480 Speaker 1: your own pocket, because you know capital, this will require 722 00:37:58,480 --> 00:38:01,960 Speaker 1: a bit of patient capital happen overnight. But you know, 723 00:38:02,239 --> 00:38:05,720 Speaker 1: then if you've got a national footprint, then you become 724 00:38:06,520 --> 00:38:08,480 Speaker 1: very buyable. But the only problem that, of course, is 725 00:38:08,520 --> 00:38:10,680 Speaker 1: that once you do a deal with some like co 726 00:38:10,800 --> 00:38:13,440 Speaker 1: Star or Domain, they're not going to You're not never 727 00:38:13,440 --> 00:38:15,520 Speaker 1: going to be able to do it. But there's no tension. 728 00:38:15,520 --> 00:38:16,799 Speaker 1: You are better to do a deal with real estate 729 00:38:16,840 --> 00:38:19,240 Speaker 1: dot com. So you need to build into an agreement 730 00:38:19,840 --> 00:38:21,759 Speaker 1: the ability for you to put to them your share 731 00:38:21,880 --> 00:38:23,480 Speaker 1: at some time for a value. 732 00:38:24,120 --> 00:38:25,120 Speaker 2: I need you to act for me. 733 00:38:25,520 --> 00:38:27,640 Speaker 1: Yeah, well you got your don't worry, you got you 734 00:38:28,280 --> 00:38:30,000 Speaker 1: got your father in law, like he's pretty good at 735 00:38:30,000 --> 00:38:33,520 Speaker 1: this stuff. But I'm just saying, but this is the way. 736 00:38:33,960 --> 00:38:35,880 Speaker 1: Because you're a younger, you've got to work out, well, 737 00:38:35,920 --> 00:38:37,600 Speaker 1: what's the future hold. I mean, you can keep doing 738 00:38:37,640 --> 00:38:39,840 Speaker 1: what you're doing. I get it, but it'll take another 739 00:38:39,920 --> 00:38:42,040 Speaker 1: ten years to get there. But if you can fast 740 00:38:42,120 --> 00:38:45,359 Speaker 1: track it with someone who's got a need for it, yes, 741 00:38:46,200 --> 00:38:49,080 Speaker 1: and that requires that usually in this world, our world 742 00:38:49,120 --> 00:38:53,000 Speaker 1: in Australia, that requires introductions. But I would know only 743 00:38:53,040 --> 00:38:56,680 Speaker 1: introduce you because I'm doing I'd be doing them a favor. 744 00:38:57,600 --> 00:38:58,920 Speaker 1: The way I'm looking at it, I'm not trying to 745 00:38:58,920 --> 00:39:01,120 Speaker 1: do you. I'm not trying to do you. I I'd 746 00:39:01,160 --> 00:39:05,200 Speaker 1: love to know, but it's in my interest because you know, 747 00:39:05,320 --> 00:39:06,880 Speaker 1: Joe will think, well, this is good. Now I can 748 00:39:06,920 --> 00:39:09,120 Speaker 1: introduce you to Joe get my guys, because Joe's becomes 749 00:39:09,400 --> 00:39:11,799 Speaker 1: Joe's been on our podcast, so we can push into 750 00:39:11,880 --> 00:39:13,800 Speaker 1: Joe and then I'd live it with Joe to go 751 00:39:13,920 --> 00:39:16,200 Speaker 1: to Coast I. It would be his call. But it'd 752 00:39:16,239 --> 00:39:19,000 Speaker 1: be great to see a young person here in Australia 753 00:39:19,080 --> 00:39:23,360 Speaker 1: like you who's ambitious, a good entrepreneur, a startup, be 754 00:39:23,400 --> 00:39:26,320 Speaker 1: all beyond start, but you're a startup here, do a 755 00:39:26,360 --> 00:39:29,960 Speaker 1: deal with the big international organization is really aggressive and 756 00:39:31,120 --> 00:39:34,120 Speaker 1: help them do what they want to do. Now, I 757 00:39:34,160 --> 00:39:36,520 Speaker 1: don't realist dot com to get upset with me because 758 00:39:37,120 --> 00:39:39,120 Speaker 1: Lachlin and I'd be happy to introduce you to Ari 759 00:39:39,200 --> 00:39:41,160 Speaker 1: as well, by the way, because you know, a real 760 00:39:41,239 --> 00:39:42,799 Speaker 1: estate dot com could do exactly the same thing because 761 00:39:42,800 --> 00:39:43,839 Speaker 1: they're que acquisitive as well. 762 00:39:43,920 --> 00:39:44,719 Speaker 2: Yeah, of course they. 763 00:39:44,680 --> 00:39:47,520 Speaker 1: Buy businesses and investing businesses all the time. But just 764 00:39:47,960 --> 00:39:50,680 Speaker 1: I was just thinking, as you're speaking, then Coast I 765 00:39:50,719 --> 00:39:54,239 Speaker 1: would probably be more aggressively interested because they've got to 766 00:39:54,480 --> 00:39:56,320 Speaker 1: come from what have they got twelve fifteen percent of 767 00:39:56,360 --> 00:39:59,799 Speaker 1: the market domain. You know, real estate dot Com probably 768 00:39:59,840 --> 00:40:02,399 Speaker 1: do the need to do it because they control the marketplace. Yes, 769 00:40:03,360 --> 00:40:07,800 Speaker 1: they're both extraordinarily profitable. They're smashing it completely. And you 770 00:40:07,880 --> 00:40:11,399 Speaker 1: can't list a house today or anything without going through 771 00:40:11,440 --> 00:40:11,920 Speaker 1: one of those two. 772 00:40:12,000 --> 00:40:16,800 Speaker 2: No, not at all. And it's funny because and I 773 00:40:16,920 --> 00:40:18,680 Speaker 2: mean this, I mean when I say, when I speak 774 00:40:18,680 --> 00:40:21,440 Speaker 2: to vendors or agents, I always say to them, I 775 00:40:21,520 --> 00:40:24,440 Speaker 2: want to be responsible for finding your buyer for the 776 00:40:24,480 --> 00:40:26,840 Speaker 2: fee that you pay me, I really want to deliver, 777 00:40:27,640 --> 00:40:31,759 Speaker 2: and we do. And so partnering up with one of them, 778 00:40:32,480 --> 00:40:35,440 Speaker 2: if it facilitates that goal, that makes me happy, because 779 00:40:35,480 --> 00:40:39,000 Speaker 2: that's it's a genuine mission. And if it's growing the business, 780 00:40:39,760 --> 00:40:41,680 Speaker 2: that's it's, at the end of the day, my baby. 781 00:40:41,880 --> 00:40:45,040 Speaker 2: And if something like that helps it grow, I'm open 782 00:40:45,120 --> 00:40:45,560 Speaker 2: to anything. 783 00:40:45,600 --> 00:40:48,759 Speaker 1: Really, I'll get the boys too, but we'll do an intro. 784 00:40:49,239 --> 00:40:50,719 Speaker 1: I'll the boys all write up and I'll send on 785 00:40:50,800 --> 00:40:53,920 Speaker 1: my email to Joe and Joe will probably come back 786 00:40:53,960 --> 00:40:55,759 Speaker 1: for Christmas, I guess. But man, I'm happy to do 787 00:40:55,880 --> 00:40:58,040 Speaker 1: it and see where it takes to them. But you know, 788 00:40:58,520 --> 00:41:00,680 Speaker 1: keep doing all the good stuff, mate, you're killing it. 789 00:41:02,160 --> 00:41:04,719 Speaker 1: I'm very impressed. For a young man from this of 790 00:41:05,040 --> 00:41:07,879 Speaker 1: a Sydney to do so well, and goodluck in your 791 00:41:08,000 --> 00:41:10,320 Speaker 1: upcoming nuptials. When you're gonna get married. 792 00:41:10,680 --> 00:41:12,880 Speaker 2: That's up to that's up to my fiance that one. 793 00:41:13,239 --> 00:41:16,160 Speaker 2: So I proposed to her two weeks ago. That was 794 00:41:16,280 --> 00:41:19,080 Speaker 2: enough planning for me. I'm just to her, you just 795 00:41:19,320 --> 00:41:20,359 Speaker 2: do the rest. Do you do the rest. 796 00:41:20,400 --> 00:41:24,319 Speaker 1: I'll just show up so well, well done. Congratulations, you're 797 00:41:24,360 --> 00:41:25,160 Speaker 1: on a good path mate. 798 00:41:25,320 --> 00:41:27,160 Speaker 2: Thank you, Mar, appreciate it.