Adrian Portelli and other registered bidders at The Block auctions. Picture: Channel 9
Appearing on The Block isn’t cheap.
Real estate industry veterans who appeared on this year’s season of the Channel 9 show have reportedly claimed that appearing on the show carries a heavy financial cost in the form of lost earnings.
For some, those earnings would allegedly be up to $30,000. And it’s a cost magnified by the producers’ decision to host this year’s series in a more remote location, which meant some agents were unable to sell other properties outside the show on the day.
Frequent auctioneer on The Block Tom Panos said agents and auctioneers were growing increasingly frustrated with the lost earnings from appearing on the show.
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The auctions were slammed as unrealistic. Pictures: Channel 9
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“It’s a conversation that’s come up a few times,” he said.
“The time and effort involved doesn’t make sense financially. It does make sense when it comes to building a brand profile, but that’s really the only reason many agents and auctioneers do it.”
Some agents were frustrated with the extra work involved in appearing on The Block, Mr Panos said.
“I spoke with a lot of agents on the day. They have said they love the experience because, let’s be honest, what agent doesn’t want attention? However, they say that the effort involved in handling and marketing properties on The Block is significantly higher and harder than a normal listing.”
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Tom Panos on The Block finale 2024.
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Mr Panos said he “probably won’t be returning” for another season because the lost earnings did not match the “quality and quantity of effort required”.
“You can’t exactly increase your (rate) just because you’ve appeared on The Block.
“If you already have a high profile, it doesn’t really change anything. These past years I’ve mostly done it because the audience has asked me to.”
Auctioneer Andy Reid said parts of the show lacked authenticity.
“The whole thing felt like a staged drama,” said Mr Reid, an award-winning auctioneer.
“From the moment the reserve was presented in a stuffed penguin to the lack of genuine crowd engagement, it was clear we were watching something scripted rather than an authentic auction.”
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Numerous professionals appeared on the show. Pictures: Channel 9
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Mr Reid said buyer advocates seemed more like on-screen props than active participants.
“Buyer advocates should be there to fight for their clients,” he said. “Instead, they were sidelined, which diminishes the professional dynamic you’d expect at a real auction.”
Reflecting on the bidding process, Mr Reid said: “The quote ranges were either absurdly low or pushed way too high. It’s as if they were designed to create drama rather than reflect the true market value.
“In a real auction, pricing consistency is key for transparency — something that was lacking here.”
Mr Reid said there was no real competition at the auctions.
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“There wasn’t the genuine back-end-forth that we see in true auctions. This just isn’t how a legitimate bidding war plays out.”
“Auctioneers typically work the crowd, creating energy and intensity. Here, the crowd was static, staring forward. It was a strange sight and felt out of place for anyone familiar with genuine auctions.
“We need to recognise that this is drama for the sake of entertainment, not a realistic property market transaction.
“It’s a great TV spectacle, but let’s not confuse it with authentic property market processes. This is a soap opera.”
English (US) · 