Million Dollar Agent

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25% of agents are gone. Sales volumes are down. Buyers are cautious. So why are some agents still growing?

In this episode of Million Dollar Agent, Tom Panos, John McGrath and Troy Malcolm unpack what it takes to win in a market that is exposing the difference between skill and luck.

John explains why this is a mental toughness competition, why agents need to stop blaming the market, and what he learned building a business through some of the toughest property markets Australia has seen.

The conversation covers getting back to the fundamentals, working buyers harder, managing vendors, growing market share while competitors retreat, and why fewer transactions could actually represent one of the biggest opportunities for ambitious agents.

The market isn’t dead. It’s selective.

And the agents who sharpen their skills now could be perfectly positioned when volume eventually returns.

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What can a real estate agent learn from one of the world’s best restaurants? A lot more than you might think.

In this episode of Million Dollar Agent, Tom Panos, John McGrath and Troy Malcolm unpack the extraordinary standards behind a Michelin-star dining experience and translate them into practical lessons for real estate.

• Know exactly who you are: The best businesses don’t try to be everything to everyone. They know what they stand for and deliver it relentlessly.
• Location is no excuse: If your service is extraordinary enough, people will seek you out. This restaurant proves it, with guests travelling hours for the experience.
• Own every touchpoint: From the moment a customer arrives to the moment they leave, every detail is deliberately designed. What would that look like at your open homes, auctions, listing presentations and settlements?
• Systemise the magic: Great customer experiences shouldn’t happen by accident. Build memorable moments into your process so they happen every single time.
• Make the small things matter: Sometimes it’s not an expensive gift that gets remembered. It’s noticing something about a client that proves you were actually listening.
• Stop giving clients too many choices: Great professionals make clear recommendations. Instead of overwhelming vendors with marketing options, confidently recommend the campaign you believe will deliver the best result.
• Create an experience people talk about: The transaction might finish at settlement, but the way you make people feel can keep generating referrals for years.
• Build a culture of extraordinary standards: Premium service isn’t the work of one superstar. The entire team has to buy into the standard.

Plus, the team discusses signs of changing buyer activity, whether we could be getting closer to the property market bottom, and why agents need to finish 2026 strongly if they want to hit 2027 with momentum.

The big question for every agent: Are you simply providing a real estate service, or are you creating an experience people remember?

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For years, a decent market could cover up ordinary agent work. Buyers turned up, competition pushed prices along, and deals still got done.

That’s changing. In this week’s Million Dollar Agent, John McGrath, Troy Malcolm and I talk about the skills agents need when the market stops doing the heavy lifting: honest pricing conversations, proactive buyer work and the discipline to keep creating opportunities.

One question I ask in the episode: Are you waiting for the market to get better, or are you getting better?

• 00:00 — Grand finals, underdogs and the power of belief
• 04:20 — Competitive drive and losing a listing with grace
• 06:34 — The return of real estate skill
• 10:22 — Proactive buyer work and private appointments
• 19:23 — Following up buyers who miss out at auction
• 21:20 — Better pricing conversations with sellers
• 23:48 — Rates, borrowing capacity and controlling what you can
• 28:33 — The daily contact that creates future listings

The market may be harder. That’s exactly when a good agent becomes more valuable.

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We unpack why some homes are still attracting fierce competition while other listings stall, and why borrowing capacity is shaping buyer urgency more than the headlines. We lay out a practical plan for turning stale listings into sold listings by telling the truth on price, resetting the method of sale, and using campaign data to guide decisions. 

• daylight saving chat and why spring changes buyer energy 
• strong auction competition when the guide matches today’s market 
• the acceptance economy and why affordability beats headline price drops 
• why 60 to 90 days on market creates a stigma and a digital fingerprint 
• vendor management that starts with an updated CMA and specific buyer feedback 
• why price is the main lever and small reductions often don’t shift demand 
• when a deadline campaign or re-auction can re-energise a stale listing 
• presentation upgrades that help once price is aligned, including styling and new photography 
• tracking online views, enquiries, inspections and downloads in the first 7 to 10 days 

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We break down how top agents grow market share even when the market contracts and headlines turn gloomy. We focus on controllables, sharper buyer work, firmer pricing advice, and better deal-making so you can build momentum heading into spring. 

• cutting out negative media and adopting useful beliefs 
• doubling down on buyer calls, follow-up, and buyer creation 
• targeting investors focused on yield and long-term holds 
• pushing early price alignment instead of chasing reductions 
• over-communicating with buyers and vendors like a newsroom 
• leveraging results and proof of activity to build confidence 
• nurturing past clients because recency beats loyalty 
• using creative terms like bridging, settlement flexibility, and structures 
• tightening negotiation language so buyers stop spectating 

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We pay tribute to Dr Fred Gross and unpack the coaching principles that shaped how we think about purpose, performance, and real estate success.

 We share the practical rules we still use to build a bigger business without losing the life we are working for.

• Dr Fred’s impact on Australian and New Zealand real estate coaching and training
• Designing a magnificent life and treating business as the vehicle
• Building daily “tens” that keep energy and purpose alive
• Doubling results by getting better rather than just doing more hours
• Finding mooring lines that hold us back and changing the story we tell ourselves
• Focusing on the inner market we control rather than the external market we cannot
• Using better dialogue with vendors and buyers because words change lives
• Prioritising dollar-productive activities and tracking time to cut wasted effort
• Mastermind groups, vulnerability, and being the person you are proud to be
• Accountability partners plus rewards and non-rewards to lock in commitment

Dr Fred taught people how to make more money. His greatest lesson was what to do with the life that money gave you.

Our deepest condolences go to his beautiful wife Victoria, his family, and to everyone who loved him.

Rest in peace, Dr Fred Grosse.

Thank you for helping so many of us design a magnificent life!

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Recorded live at the Black Belt Retreat on 4–5 August, this Q&A session features Tom Panos, John McGrath, and Troy Malcolm answering real questions from attendees. Covering market conditions, pricing conversations, leadership, recruitment and high-performance strategies, this episode delivers practical insights and actionable advice for real estate professionals.

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We reveal what Australia’s top real estate agents have in common and why their results stay strong even when the market turns. 

• McGrath awards night reflections and why a tighter format works 
• The market splitting into confident operators and agents who are struggling 
• Common traits across top agents: confidence, integrity, humility and zero spruik 
• Listening skills, product knowledge and preparation as competitive advantages 
• Work ethic, team standards and a constant drive to improve 
• Consistency over decades and what it really takes to stay on top 
• Why disciplined process beats relying on flair or charisma 
• Rugby league as a metaphor for business resilience 
• What top auction agents do differently: buyer work and over-communication 
• How to deliver tough price feedback without losing the vendor 

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Calling it a “bad market” is the fastest way to talk yourself out of doing great work. We unpack why the current Australian real estate cycle is better understood as a new market, and how that single mindset shift changes your confidence, your conversations, and your ability to win listings and grow market share even when prices have softened.

We get practical on what separates thriving agents from everyone else: energetic yet calm presence, leadership with vendors, and the courage to talk price early and clearly. We dig into the 30 day comparables rule, why outdated sales evidence quietly kills campaigns, and how the best operators realign guides fast based on buyer feedback before a property slips into the stale zone. If you’ve got an owner clinging to last year’s expectations, you’ll hear a clean approach to resetting the conversation with facts and context, without drama.

We also zoom out to the realities driving buyer behaviour, from interest rates and cost of living pressure to seasonal shifts like spring stock. The through-line is simple: deals still happen when you do the job properly, tighten the gap between buyer and seller, and communicate like a pro. 

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The market hasn’t “stopped” it’s just stopped carrying lazy habits. We’re three weeks out from AREC, and the timing couldn’t be better because this is exactly when real estate agents find out whether they’re doing the work or just taking orders.

We unpack the practical fundamentals that still sell property in a softer Australian real estate market: doing serious buyer work (more depth, more follow-up, better dialogue), tightening your vendor communication around price, and using real buyer feedback to keep expectations aligned with today’s market value. We also talk about set-to-sell meetings, why hyper-product knowledge matters more than ever, and how to speak with calm confidence when interest rates rise and the buyer-seller gap widens.

Along the way, we share stories about standout performers and what great agents do differently, including generosity, humility, and discipline. The big takeaway is simple: you can’t control the Reserve Bank or the headlines, but you can control your process, your conversations, and the energy you bring to every campaign.

What’s the one skill you’re doubling down on before the year ends?