February 23, 2026
Last week’s article on growth hit a nerve 20 unsubscribes in an hour, then a flood of calls, emails, and compliments.
This week in James marketnews: What to actually do in a sustained weak market. Two strong seller advocacy results – a record $9m+ off-market sale and a buy-sell that achieved $2.34m after a smart mid-campaign price reset. An update on my own sale, including commission structure and multi-agent approach. Why Glory Boys should always be tested privately – but never trusted publicly.
Why 50 groups through your house means nothing without a quality buyer. Why seven $6m+ Georgian homes sit unsold in Balwyn while only two have traded in a year. And why being realistic is the most positive decision you can make right now.
The Key Question: Who’s Really Being Negative?
If everyone tells you your property is worth $3 million but you want $4 million, and it sits unsold for two years, are you the positive one? Or is the person who sold at $3 million and got on with their life?
Have realistic goals. Pursue them. That’s not negative. That’s as positive as it gets.
HAWTHORN, 88 Liddiard Street Agent: Sam Christensen – Anton Zhouk Real Estate SOI: $2,000,000 – $2,200,000 Crowd: 50 Opening Bid: $2,000,000 On the Market: $2,325,000 Under the Hammer: $2,350,000 Bidderman: 2
- We Had 2 Great Results This Week.
If you have a goal – then Buying and Selling @ Market and Moving On is Positive Realism. Truth is Positive. Stuck is Negative!
Result One: $9m+ Record Price – Two Years Off-Market
Completely off-market, completely multi-agent. The buyer got a brilliant house. The seller achieved a record for the area – a testament to their ideas and execution. Congrats to multi-agents Liz Walker (Nelsons) and Stewart Oldmeadow (Miles), to our clients, and to Tyler Hunter at DPM Financial Services for the referral. A doctor-to-doctor transaction in the end.
Result Two: Buy-Sell – $2.34m After a Smart Reset
Clients returned for the second time, wanting to leave Surrey Hills. They bought a townhouse in Hawthorn – completely different to their original thinking, but they’re thrilled.
Then we sale managed their property. Agent quotes came in at early twos and high twos. The high twos failed an off-market test. We went public at $2.2–$2.4m. First week: eleven groups, no identified buyer. A competing property nearby came on at $2–$2.2m.
So we dropped the quote to $2–$2.2m. Not underquoting – reassessing value mid-campaign, which in this market is sensible, necessary, and legal. Everything changed. Quality buyers in week two. Repeat visits in week three. Pre-auction offer at $2.3m, increased to $2.34m.
Sold. More on Rob Le and Andrew Gibbons below – excellent execution.
The clients are now moving to a completely different lifestyle with their girls.
This is what multi, smart, patient, trustworthy agents can do off market in a tough market – get incredible results. Hats off!
BRIGHTON, 14 Cowper St Agent: Kate Strickland. Auctioneer Stephen Smith – Marshall White SOI: $3,200,000 – $3,400,000 Crowd: 35 Opening Bid: $3,200,000 (VB) Passed in: $3,200,000 (VB) Sold After auction: $undisc Bidderman: 0
- My Own Sale - Full Transparency
I’ve signed authorities. Multi-agent campaign in the Brighton activity zone. I’ve been told high threes. I’d love low fours.
Commission: minimum 2% plus GST, likely 3%, possibly 4.5% if an outside agent delivers a good price. The lead agent coordinates at 1%. Any outside agent who brings the buyer earns 1% plus GST. Same for another agent within the lead’s office.
I believe in paying proper commissions. I’m not short-changing my own sale. Am I nervous? Of course – 33 years in this house. But I want to help my kids, clear debt, travel a bit more. If it doesn’t sell, yes the campaign failed, but I don’t consider myself a failure.
- The Quoting Game and Glory Boys
Four agents quote your property: $5–$5.5m, $5.5–$6m, $6–$6.5m, and the Glory Boy at $7–$7.5m. Always test the Glory Boy – but test them off-market.
Two recent properties – Anderson Park and Brighton Beach-Hampton. Glory Boys quoted in the sevens. Neither delivered there. But other agents delivered in the low sixes, above where the realists sat. Worth it. But tested privately – no public damage.
However I can give you 20 examples where Glory Boys landed nowhere near their numbers.
One this month in the $8–$10m range quoted 20% above. Two weeks later: “mate, it’s nowhere near that.”
2nd case in point: We received quotes of high $3m, low $4m, and high $4m on a Malvern home. All three had a chance off-market….zippo, except the high $3m’s bought clients through. Our clients selected the high $3m agent, went public, sold for circa $4m.
The Glory Boy? He had another home within 100 metres quoted in the $5ms — still on the market. He got the boot. The new agent, The Punisher has taken over and quote has dropped over $600,000.
After 16 weeks public, 50% have NOT sold at EOI. That’s our Marketnews data. Glory Boys thrive when the market does the heavy lifting. In this market, going public with a Glory Boy means Droopy Dog – Mr Negative, feeding on failed slops – eventually sells your property from a position of public failure at a lower price than if you were realistic from Day 1. Don’t crack the sads. Don’t hire Droopy Dog either.
Be practically positive.
Off-Market Is Not a Religion – We do go public as well!
It’s a nuanced approach, not a cure-all. I’ve just been called in on one home that’ll probably be a one or two agent public campaign. But even then, test off-market first — it’s a way of testing and selling. Testing price, buyer interest, and which agent actually does the work.
We often select middle price-tier agents – right tier for the market, brilliant execution. Rob Le (third deal with us in 12 months) and Andrew Gibbons (same) on the Boroondara sale worked together superbly. Secured the result prior to auction.
MALVERN EAST, 79 Brunel Street Agent: Daniel Wheeler – Marshall White SOI: $2,600,000 – $2,800,000 Crowd: 45 Opening Bid: $2,600,000 (VB) Passed in: $2,600,000 (VB) Bidderman: 0 Opened and subsequently passed in on a single vendor bid.
- 50 Groups Through Means Little. 10k Views Means Zip!
Key agencies bang out “25 groups on Saturday.” Monday ring-around: no interest. Following weekend: zero repeats. Success is quality buyers engaging seriously at your best price – not headcount. In a rising market, quantity covers quality. Not in this one.
I have always been of the belief that often (true not always) massive numbers through OFI distracts agents from their real job….. find the best buyer.
And if anyone mentions stock shortages – type “Brighton” into realestate.com.au, $3m+. Over 100 houses. No shortage.
- The 100 Boards Myth
You choose an agent because they’ve got a hundred boards up? Think about what you’re saying.
Fifty of those boards have cobwebs on them. Properties unsold. Is that your advertisement? And if they’ve taken on a hundred listings, how much time are they giving yours?
We turned away two potential clients this week. Advised two others: do not sell. If we took on everyone and told them anything at any price, how would we have the time or focus for the clients who’ve actually placed their trust in us?
You chose the agent. You chose the strategy. You chose the number. It’s you, mate — not the agent.
The alternative? Hire the Glory Boy. Believe every promise. Watch 50 people walk through while nothing happens. Fold over and take whatever you’re given. At least you don’t have to think — and you can tell your friends it was the agent’s fault.
- The Balwyn Problem: Seven Houses, Two Buyers
Seven Georgian homes over $6m on the Balwyn market. Two sold in the last year. That’s 350% more supply than demand. At this rate, the last one sells mid-2029. Being rigid does not equal strong. Being rigid in Balwyn used to be smart , now it simply means UNSOLD.
BUT….This Market Is Still Alive … Just Selective
Back on the Brighton thing. Over 100 houses on the market BUT and it’s a BIG BUT …Brighton absorbed (sold) 200+ properties above $3m last year. The market transacts.
- Moving Forward
Being realistic is not negative. Being unrealistic is negative — you stay exactly where you are while life happens around you.
I’m selling my house. Helping my kids. Clearing debt. Choosing freedom over ego. If you need to do the same — test smartly, price honestly, move forward.
There are plenty of great things in life beyond waiting for a property price that isn’t coming.
If this one gets 40 unsubscribes, I’ll know I’m really onto something.
Contributions from Randall, Kieran and Sim — another great James triumvirate.
Mal James — 0408 107 988
- Last weeks article many unsubscribes and plenty of support
We live in a great state. Yes, it’s a bit down at the moment – property, confidence, all of it. But life in Melbourne is still pretty good. Stay positive, keep moving, make decisions based on reality not fantasy, and you’ll come out the other side stronger.
AI & Ratings Policy – Mal James
Our Philosophy on AI
At James, we are strong believers in the intelligent use of AI for analysis, automation, and expanding options.
AI formed a significant part of my face-to-face Masters completed at RMIT in 2024. Beyond real estate, we use AI within our Sub-Saharan Child Surgery Program, which employs many people and has now helped more than 1,400 children access life-changing surgery.
I have been an advocate for 25 years. The internet transformed our industry. Mobile phones accelerated it. AI is now doing the same.
Technology changes tools. It does not replace judgment.
Like the internet and mobile phones, AI has positives and negatives. Our responsibility is to use it with integrity, restraint, and clarity of purpose.
How We Use AI in Our Property Ratings
- Property Selection
Properties are chosen by us based on merit and client relevance.
If a client requests it, we will load up and share the rating we would have shown them privately.
We do not publish homes where we are actively representing a buyer. - Physical Inspection – No AI
I personally attend every property where you see a rating.
I have done so for 25 years.
Good advocacy still means going to the home.
I record a video on site.
No AI is used in the recording or in forming my opinion.
- Written Ratings – My Words
All opinions and concepts are mine.
AI is used only to:
- Transcribe the video.
- Structure and format my words.
- Create a thumbnail image.
- Assist in layout production.
The AI is restricted to:
- My spoken transcript.
- My Marketnews articles.
- My Property Ratings book.
- Our internal data.
It does not generate new opinions. It organises mine.
- Automation & Publishing
AI automation assembles the webpage draft.
Sim in our office reviews, checks, and approves all content before publication.
Human oversight remains essential.
- What We Publish
We are free to comment on any home published here.
Off-markets and properties where we have active buyer representation are not published.
Our Standard
AI supports our efficiency.
It does not replace inspection, judgment, independence, or advocacy.
We remain accountable for every rating you see.
AI & Marketnews Articles
All Marketnews concepts are mine.
I speak my thoughts – sometimes into one large language model, sometimes several. My preferred tools are Claude and ChatGPT. I ask them to produce a summary using only:
- My spoken concepts
- My previous Marketnews articles
- My established frameworks and ideas
I do not ask AI to create new opinions.
I ask it to organise mine.
Typically, several versions are produced. I then:
- Read them carefully
- Edit heavily
- Combine the strongest elements
- Refine the argument
- Adjust tone and clarity
- Spellcheck
- Approve and publish
What you read is my thinking.
AI simply helps structure it more clearly and, hopefully, more enjoyably for you.
Why We Do It This Way
Clarity matters.
For 25 years I have developed frameworks, philosophies, and pattern recognition about Melbourne property. AI helps me express those ideas with greater precision and efficiency but it does not replace lived experience, inspection, negotiation, or judgment.
AI improves readability.
It does not create belief.
The thinking remains human.
The responsibility remains mine.
An Open Invitation
If you ever feel an article lacks clarity, depth, or alignment with what you expect from me, I welcome the feedback.
Technology should enhance connection – not distance it.
Mal James
0408 107 988
James Home Ratings This Weekend
I rated some truly great homes this week. Bendigo Avenue in my Top 5 of all time.
- Click Address through to completed James Home Rating
- Older Ratings? - Google full street address to see if we have released one publicly
Trekking: As you get a little older, finding the right trekking companions gets more interesting — but the adventures don’t.
This July I’m heading to the Alta Via 2 (including the via ferratas) in the Dolomites, a week on the Kungsleden in Arctic Sweden, and the Laugavegur in Iceland all hut/refugio based.
I’m perfectly happy walking solo (you meet wonderful people in the huts), but I’m always open to a good companion or two/few. Next year I’m planning Alta Via 1 & 3, the Matterhorn Circuit with a ride in between on the Glacial Express to Zermatt – book my own stuff.
If you’ve got a few long treks under your belt or this seems a good idea *as long as you are fit they are not technical and easy peasy but a self-starter and fancy a coffee/wine, get in touch.
Mal 0408 107 988 mal@james.net.au
