Monday, August 22, 2011

The Block

Did you follow suit with the rest of Australia last night and tune in the channel 9 for The Block finale followed by Razor?

I'm a joiner so I was glued to M's couch (spent the day in Brissie hanging out with my bestie) watching The Block despite having only seen an episode here and there. I had watched enough however over the series to know who the contestants were and my family was gripped to the show so I was also up on most of the goings on including the Jenna and Josh bickering etc.

Being in real estate, it was a given that the sale process would always interest me a lot more than the renovations (I leave that stuff to the men in my family) and last night I was a nail biting affair for me. At work, I run monthly in-room auctions for 5 to 10 properties so I know just what is involved in the process, what works and can almost always pick when I property is going to stall and fall well short of the reserve.

The best part of the show was of course The Proposal. I actually picked the Josh and Jenna proposal before it started and for the record, unlike most people who loved the show, I am not a Jenna hater so was absolutely thrilled for her - what a wonderful surprise and Tiffany to boot! I think Jenna was partly a victim of editing and was actually quite skilled with the design side of the process.
In my professional opinion, I found the auctioneers/agents extremely disappointing as did my colleagues when we rehashed the show at the water cooler this morning. A good auctioneer should 'play' with the crowd, warm them up a bit and drag the process out to obtain the best results, not jump in with a big opener, zip through the bids and close the auction within 3-5 minutes.

Our regular auctioneer is an absolute superstar! He involves the crowd, creates atmosphere and knows how to use the room to get a good result. We often get spectators come up after the auction to tell us how fantastic our auctioneer is.

Moving forwards, last night's auction results were a true indication of just how repressed the real estate market is. When you consider the publicity and marketing these homes had in addition to the 'celebrity' of buying one, they should have sold like hotcakes. Those reserves were far too high for a market that is completely lacking buyers and buyer confidence. I also have it on good authority that given the specific locations of the homes, the land value used to calculate the reserves was bordering on ridiculous. 3 out of 4 homes passed in is pretty standard in the current market and certainly on the Gold Coast which seems to be hardest hit of all in real estate decline.

Anyways, so I had really hoped that Josh and Jenna or Tania and Rod would win the show having not seen much of the series and loving those two renovations so I was very surprised when they were passed in (as was everyone else watching also) but ultimately I think its lovely that Polly and Waz won - I heard some lovely things about them last night and they sound very deserving of such a windfall.

Did you watch the Block? What did you think?

1 comment:

  1. I agree about the auctioneers - as soon as each auctioneer started I was already cringing and thought they were all doing so terribly (and that's from my limited experience attending a few property auctions!).