📝 Why this Melbourne agency walked away from auctions

GOOD MORNING FROM ELITE AGENT 👋

TRUE OR FALSE?

The word dacha (Russia) comes from the verb dat, meaning “to give,” because these seasonal cottages were originally given by the Tsar to loyal subjects and later evolved into Russia’s iconic summer home tradition.
(Scroll to the bottom for the answer!)

In today’s edition of The Brief

• EOI versus auctions

• RBA keeps cash rate on hold

• Melbourne property price drop

Today’s read time: 5 minutes, 20 seconds

New to The Brief? Join us for free 🤝

EOI SALES METHOD

Why this Melbourne agency walked away from auctions

For decades, auctions have been Melbourne’s benchmark method of sale – often treated as the gold standard in premium suburbs where competition is fierce and vendors rely on auction day pressure to drive top-end results. But one agency has spent the past 18 months challenging whether that model still delivers the best outcomes, and their findings are starting to shift conventional thinking. Buxton Port Phillip co-directors David Seeder and Zoe Cherrie began noticing a clear shift in buyer behaviour as finance conditions became more common, caution crept into the market, and clearance rates softened.

“We weren’t necessarily searching for a better method than auction,” David said, but as conditions evolved, so did their approach, revealing over time how much the landscape of competition was changing.

Like much of the industry, the pandemic forced experimentation with alternative selling methods, and while many agents reverted back to auctions once restrictions lifted, David’s team continued down a different path based on what buyer behaviour was revealing.

What emerged over the 18-month period challenged a long-held assumption: that auctions are the only way to maximise competition.

“An EOI campaign doesn’t remove competition from the process; it actually broadens the competitive landscape,” Zoe said.

Instead of concentrating pressure into a single moment, the approach opens the door to a wider pool of buyers and different types of competitive behaviour – including, increasingly, high-end purchasers who value discretion and flexibility.

What you'll learn in the full article:

• The market data shift: Just 15 per cent of Elwood properties sold via auction in 2026

• The buyer flexibility framework: How to accommodate finance conditions without sacrificing competition

• The $3.05 million case study: Why the highest price wasn't the best offer – and how settlement terms changed the outcome

• The net result approach: How to evaluate offers beyond just the headline number

Read the full article

ICYMI yesterday - Why choosing not to prospect is a selfish choice.

RBA

Cash rate holds at 4.35% as housing market softens

Markets expected it, and the RBA delivered - the cash rate stays at 4.35%. With Sydney and Melbourne prices softening and unemployment at 4.5%, the focus has shifted from whether rates will rise again to whether they've done enough. Industry experts share what this means for your market through 2026.

VIC NEWS

One in three Melbourne listings now discounted

More than one in three Melbourne listings are now carrying price reductions, according to property tracker Spachus Aus. Just a month ago, that figure was 19 per cent, meaning the share of discounted listings has almost doubled. Ray White Ferntree Gully's Christine Jones says clearance rates are "probably the lowest we've seen in some time". She explains how she's helping vendors adjust to changing market conditions and why sales evidence from the past two months now carries more weight than six-month-old comparables.

HOW IT SOLD

From stalled to sold in seven days

A steep mountainside driveway was putting buyers off this Kettering acreage after four months with another agent. Jodie Weir of Harcourts Huon Valley ditched open homes for one-on-one inspections, personally guiding each buyer up the winding access road, while fresh twilight photography generated 19 inquiries in week one. Seven days later, she had a buyer – and structured the offer to avoid a repeat of a previous inspection failure.

Agents across Australia and New Zealand are turning sales into stories. getailsa.com

CELEBRITY HOMES

The man who coined "Air Jordan" is selling his US$25 million oceanfront estate

Michael Jordan's legendary agent David Falk has listed his Kiawah Island, South Carolina home for US$25 million (A$35 million) - potentially the island's priciest sale ever. The man who turned a sneaker deal into a cultural empire clearly has taste.

MOVERS + SHAKERS

McGrath opens in Wantirna as Melbourne's east outperforms

Co-principals Geraint and Nicole Gardner launch the new office in a market where homes are selling 13 days faster than the Melbourne average. More here.

Harcourts appoints James Aubert as Performance Coach across SA and VIC

James brings real estate experience and a Bachelor of Psychological Science to the role, supporting agent development across both states. More here.

Mae Chan joins Ray White Upper North Shore

The Sydney Upper North Shore specialist brings more than a decade of hyper-local experience to the agency. More here.

Success doesn’t rest on weekends! 
Get the latest on top agent and agency moves every Sunday with our weekly roundup in Movers & Shakers. Subscribe now.

AGENTS ON SOCIAL

“I don’t care what the internet says your house is worth; the market will decide, not an algorithm.” 📈🏡

Seen an Agent On Social we should include? Let us know here (email link)

TRUE OR FALSE:

The word dacha (Russia) comes from the verb dat, meaning “to give,” because these seasonal cottages were originally given by the Tsar to loyal subjects and later evolved into Russia’s iconic summer home tradition.

And the answer is …

TRUE. The origins are rooted in literal royal allocation - dachas began as land or seasonal residences “given” by the Tsar as rewards, not purchased in a modern real estate sense. Over time, they evolved into privately held summer cottages, but the name stuck, along with the idea of the “gifted” escape. Today, the dacha still carries that legacy: a second property that functions less like a luxury investment and more like a deeply ingrained lifestyle asset - part holiday home, part garden, part generational holding that Russians return to year after year.

Wishing you a productive day!

Elite Agent is the definitive platform for ambitious agents and industry players.
AI-Powered Agents is your playbook for deploying AI that sells homes and scales teams.

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Iris Rebello and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

Content in the ‘Together With’ section is sponsored. Interested in promoting your brand to Elite Agent’s audience? Learn more at advertise.eliteagent.com.

Was this email forwarded to you? Sign up here.