March 15, 2026

The War on EOIs

Hundreds of Millions Sat Unsold via EOI in October 2025.

This week in Melbourne…
hundreds of millions of dollars more of top-end property is sitting unsold.

Not withdrawn.

Not passed in.

Just sitting.

In March 2026 Sellers Still Aren’t Listening and the results are worse.

Last week we looked at the buying side of the market. This week we return to the selling side.

And frankly, it feels a bit like a war report.

Because like wars… history is repeating itself. Sellers, once again, are not listening.

I’m Mal James.

This is James Buy Sell Advocates.

And today — Saturday March 14 — we’re revisiting one of the biggest issues in Melbourne property right now:

EOI campaigns that simply don’t work.

Last year we ran an analysis of Expressions of Interest campaigns across Melbourne. The results were confronting.

Only 29% had sold a week after close of EOI.

From February to now we conducted the same simple test.

We randomly selected 33 Expression of Interest campaigns closing now.

Different suburbs.

Different price points.

Different agents.

You can see them all listed above.

We waited – allowing an extra week for cooling off and argy-bargy, for results to work through, so as our clients could get an accurate clearance rate – just like an auction.

And this morning — March 14 — we checked again.

The results were clear.

Of the 33 properties:

Only 9 sold.

Which means the clearance rate wasn’t 40%. It wasn’t even the pathetic 29% of last Spring. It was 27%. Not higher than last year. Lower.

The Market Reality

February is traditionally one of Melbourne’s strongest selling months.

The market is fresh.

Buyers are active.

Momentum is high.

And yet.

Even in February.

Even in prime selling conditions.

EOI clearance sits at 27%.

Which raises a serious question.

Is it still the agents?

And this is where the story becomes uncomfortable.

Because at some point sellers have to ask a very simple question.

Why would you spend tens of thousands of dollars advertising your home… only to discover what it isn’t worth?

Why would you run a campaign designed to generate marketing…but not necessarily generate a sale?

History: For years, EOIs have been an easy campaign model.

They generate:

advertising
exposure
brand promotion for agents
vendor-paid marketing

But what they are not generating now is a sale.

Because unlike auction results, they are never properly tracked, the industry simply moves on from the EOI collateral damage.

But when you do track them…The picture becomes clear.

Is there a better way to sell than EOI?

During the exact period these EOI campaigns were failing — these properties, sale managed through a different approach, multi-agent on/off market did not sit unsold.

None remain unsold – yes some were tough deals but sold….

We’re now into the next wave. Off-market, multi-agent campaigns. $10m+ in Aspendale and East Melbourne. $3m+ in Kew, South Yarra, Balwyn, and Camberwell. Quietly.

Collaboratively. Minimal cost. Private one-on-one inspections.

And yes — some of these take time.

Here’s the part that should make you stop and think.

The only argument most selling agents make against this approach — besides "I don't want to do it because it's more work (one on one inspections) and I don't get my name in lights" — is that it takes longer.

Huh.

So let’s follow that logic.

An approach – which has a 100% sale rate (it won’t always but has during this period) – takes longer than a strategy where 27% of the properties sold…. so therefore we prefer to recommend EOIs to the clients and they pay the $30,000.

Say that again slowly.

We take longer to successfully sell at a lower cost, than a failed EOI takes to publicly fail at a higher cost….. AND

Sorry but that argument shouldn’t really survive contact with reality….. should it?

If you’re thinking about selling in May. Or in Spring.

At least consider a strategy that is actually working.

Instead of the usual routine. Ring one or two agents. Hear the same conversation. Stretch the carpet. Paint the wall. Add some mulch out the back. Spend $30,000 on advertising.

And then ask yourself one simple question. If 73% of EOI campaigns don't sell — how exactly is that advertising working?

At James Buy Sell we work with real agents using real strategies that deliver real results. Agents who collaborate. Agents who compete. Agents focused on selling the home — not marketing themselves.

You won’t see me on realestate.com.au.

But above are our results.

And if you think the numbers we’ve presented are wrong — call me out. Ask your agent to show you their data. Because shouting “not true” isn’t evidence.

In property, data matters.

James AI – Ratings and Marketnews - click down for policy

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

Next week in Marketnews — The War Edition…

Some of the best in the business share their thoughts on how to navigate this changing and uncertain market. Including insights from Andrew McCann of Jellis Craig and Helen Yan of Ray White, among others.

We’ll are also back looking at the market from the buyer’s chair.

I’ve been hearing more of: “Mal, buyer advocacy must be easy right now.”

Really, what are you smoking?

When 73% of EOI properties don’t attract a single bidder…
When negotiations can take months to move expectations by more than a million…
When the asking price is often nowhere near the true market value…

That’s not easy if you don’t want your client to pay too much, get a chance at growth and still buy if they want to.

Anybody can miss. Anybody can pay too much - no skill or experience needed.

That’s where real buyer advocacy actually begins.

Next week we’ll explore some truths.

Is your agent/advocate/family advisor telling you the market price truths?
Are they prepared to give you tough love if a price is miles off the mark?
Are they prepared to miss an easy fee by saying: “This isn’t where the market is on this.”

How do you do that –

and stay positive about a great home,
recognise that competition may still exist (a la last week – yes it was an outlier but….we missed)
and still negotiate over a few months if need be, the reality of the market AND get it.

Next week we’ll show you how the best buyers actually negotiate in this market… and how true market value is discovered.