GOOD MORNING FROM ELITE AGENT 👋

True or False?

About 3 million people in China are living in homes carved into hillsides… literally underground.
(Scroll to the bottom for the answer!)

Meanwhile, in today’s edition of The Brief

• Would you dare auction a $50M home with no reserve?

• Uncertainty dominates our property market

• Auctions are up but clearance rates are down

Today’s read time: 7 minutes, 16 seconds

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ZERO RESERVE AUCTION

Selling US$50 million homes without a safety net

In the world of ultra-luxury real estate, selling a $50 million estate without a safety net could be viewed as financially reckless, yet U.S. based Trayor Lesnock, founder of Platinum Luxury Auctions, moved 29 properties last year, 27 of which had no reserve price. By removing the floor, Trayor forces buyers to compete based on pure perceived value rather than a static list price.

To protect the bottom line, he uses a sophisticated "Opening Bid" program that acts as a financial insurance policy, offering early bidders credits in exchange for a binding commitment. This strategy creates immediate momentum, funnelling global interest down to the final two bidders who truly drive the price. For Trayor, the goal is the transparency and urgency that traditional "list and wait" methods simply cannot match.

What you'll learn in the full article:

• The psychology shift: How removing reserve prices creates buyer empowerment that traditional listings can't replicate

• The early bid framework: The specific incentive structure that kickstarts momentum and predicts final outcomes

• Market-specific targeting: How Platinum tailors marketing differently for a standard property versus a US$50 million Caribbean estate

• The finality factor: Why the legal structure of zero-reserve auctions creates urgency that accelerates decision-making

Whether you work in luxury or not, Trayor's approach offers a masterclass in creating urgency, transparency, and competitive tension – principles that apply at any price point.

Read the full story here.

ICYMI, last week: How the fuel crisis is affecting real estate.

TOGETHER WITH A HOME FOR ALL FOUNDATION

Property industry awards $1M to housing charities

The A Home for All Foundation, backed by the Australian property industry and REA Group, has awarded $1 million to four charities following its inaugural A Night Without Home campaign. Chaired by LJ Hooker Group CEO Christine Mikhael, the FY26 initiative focuses on women and children escaping domestic violence - a primary driver of homelessness.

The funds are strategically split: $400,000 for Women’s Community Shelters (NSW) to build transitional housing; $200,000 for Justice Connect (VIC) to expand legal prevention programs; $200,000 for Friends with Dignity (QLD/WA) to rapidly furnish homes; and $200,000 for Women’s Safety Services of Central Australia (NT) to bolster remote wrap-around support.

This collective industry effort is set to directly assist over 2,000 individuals, moving them from crisis beds into long-term, stable accommodation

Read more about the grants here.

OPINION

Uncertainty now outweighs rates as biggest challenge

The Australian property market is currently being reshaped by a "lack of clarity" rather than high interest rates alone, as conflicting economic signals from the RBA and global geopolitical tensions stall decision-making. Chief Economist Nerida Conisbee warns that while 60–70% of inflation is driven by external factors like Middle East supply chain disruptions, domestic households are bearing the brunt of cooling measures.

AUCTIONS

Buyers show caution

Australia’s auction market recorded its busiest weekend of 2026, with 3,722 homes across the combined capitals, but while seller activity is strong, auction data shows clearance rates are at their lowest as buyers are taking a more cautious approach. Dr Nicola Powell, Domain’s Chief of Research and Economics, said: “We’re clearly seeing a slight disconnect between supply and demand right now. Listings are rising, but buyer appetite isn’t quite keeping pace.”

HOW IT SOLD

Five database buyers and one silent auction

Reza Zad matched database clients seeking single-level homes to a four-bedroom Castle Hill property, then ran a silent auction among the five qualified prospects. The winning buyer offered "way above" every other bid, securing the home at $2.78 million – more than $500,000 above the suburb's median. No mainstream portal advertising was used.

Stories like this build your online reputation long after the sold sticker comes down. Want yours told? getailsa.com

CELEBRITY HOMES

Orlando Bloom lists Malibu home for $18.5M

The Lord of the Rings star is selling the 1970s beach house he bought with Australian supermodel Miranda Kerr in 2011 for $3.8M. Orlando says his reno cost more than twice what he paid for the place, but at least there’s a motorcycle garage – and sea-foam green kitchen cabinets.

MOVERS + SHAKERS

McGrath South Yarra and Ivanhoe add five new agents

The Melbourne franchise has recruited five leading agents as part of a deliberate growth strategy across both markets. More here.

Harcourts Foundation supports RSPCA's Pets in Crisis program

The $8,904 grant helps domestic violence victims access emergency pet boarding, removing a key barrier that often keeps people in unsafe homes. 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

Never thought we’d say this, but in response to proposed tax changes, we’re all quoting Johnny Depp. 🏴‍☠️ 😱

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

TRUE OR FALSE:

About 3 million people in China are living in homes carved into hillsides… literally underground.

And the answer is…

True. In the early 2000s, 30–40 million people lived in underground ‘yaodong’ homes carved into Shaanxi Province’s hillsides. By 2010, urbanisation had cut that number to around 3 million, with some communities abandoning their subterranean homes entirely. Even so, these cave homes remain a remarkable example of practical, climate-smart living.

Wishing you a productive day!

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