The $74 Million House That Broke Melbourne's Record - Marcus Chiminello #137

In one week Marcus Chiminello sold a house for 74 million dollars, which he says beat the Melbourne record by 24 million, and another three days earlier for just over 80 million that nobody knew about until the buyer announced it himself. He also says he sat in his first twenty million dollar listing feeling like an impostor.

Marcus Chiminello sells prestige property in Melbourne and went out on his own during the global financial crisis. He says he has sold more than 130 properties above ten million dollars.

What you will learn:

- Why he never does appraisals, and what he tells young agents to do instead

- The 19.6 million dollar sale that came from a one bedroom apartment, and what won him the job

- How he vets buyers on a listing that drew more than 200 inspection requests

- Why "do better, not different" beats trying to stand out, and what he tells his son about it

- What actually changes when the seller is one of the wealthiest families in the country

Chapters

00:00 Everyone you deal with is stealing your time

01:04 What still has to change to reach the next level

04:12 When the career quietly becomes your identity

08:21 The buckets that went unfilled on the way up

11:25 Handling a problem that has nothing to do with real estate

14:56 Calluses, and the year that nearly broke him

18:30 What 130 sales above ten million teaches you about wealthy people

21:32 Why generalist agents never reach the top

24:49 Going out on his own in the GFC, and working to minimums

28:11 Half a degree of separation in Melbourne

31:31 Creating a slipstream for the people behind you

35:07 Learning a world you did not grow up in

38:10 Do better, not different

41:15 Everyone is different now, so nobody is

44:24 The 19.6 million sale, and the impostor in the lounge room

47:28 The week of the 74 million and the 80 million sales

51:11 Why he will not do an appraisal

54:17 Twelve hours on Instagram in a week

57:49 Answering his son's questions with questions

1:00:50 Peace with himself as the next level

Marcus Chiminello does his biggest deals where nobody is looking. Property should work the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.