BE­YOND THE CLEAR­ANCE RATE

Lastly, we asked our auc­tion­eers for their best tips for agents who are con­sid­er­ing the auc­tion process.

Elite Agent - - NATIONAL AUCTION | SPECIAL -

“The mar­ket will no longer put the deal to­gether. You’ve got to be the deal-maker. Speak to your buy­ers; ask them what they think the re­serve should be, take that in­for­ma­tion and then tell your ven­dors ex­actly that: ‘This is what the buy­ers said the re­serve should be.’ Auc­tion day is the re­ward for you do­ing in­cred­i­ble work for 25 days prior to the auc­tion.” TOM PANOS

“Find out if the buyer’s there with the in­ten­tion to come along on Satur­day to bid, whether it sits in their price range, whether they’ve or­gan­ised a de­posit, and whether they’re clear on how the auc­tion is go­ing to work.” MATTHEW SCAFIDI

“What makes a great auc­tion cam­paign is great mar­ket­ing, pre­sen­ta­tion of the prop­erty; a lot of agents are styling prop­er­ties and pre­sent­ing the prop­erty re­ally well for sale. Hav­ing ex­cel­lent ven­dor com­mu­ni­ca­tion and good buyer com­mu­ni­ca­tion will cul­mi­nate in a good auc­tion on auc­tion day.” WILL HAMP­SON

“Have buyer meet­ings – get your buy­ers in a week be­fore the auc­tion, sit them down, ex­plain the process. The re­sults are fan­tas­tic.” JAMES BELL

“When you’re sit­ting down talk­ing to ven­dors, it’s all about the ven­dors. Don’t just sit down and talk pri­vate treaty be­cause that’s what you know; you need to talk about all the op­tions that are avail­able for the ven­dor.” AJ COL­MAN

“The one thing I wish agents knew about auc­tions was how much in­flu­ence they have over buyer be­hav­iour. A lot of fo­cus gets put into in­form­ing the seller and work­ing with the seller through­out the cam­paign, but agents have a lot of fo­cus over buyer be­hav­iour, par­tic­u­larly in the last 72 hours lead­ing up to the auc­tion.” JUSTIN NICK­ER­SON

“My ad­vice is to em­brace the auc­tion process, be­cause it is a fan­tas­tic plat­form to build your real es­tate ca­reer... [It al­lows you to] sell prop­er­ties in less time, the days on mar­ket are re­duced, you’re typ­i­cally sell­ing on an un­con­di­tional con­tract, and it’s an ex­cel­lent way to build your pro­file.” KARL SE­CONDIS

“The one thing I’d say is for agents to look at it purely as a ne­go­ti­a­tion method. A lot of peo­ple talk about run­ning the process and the re­al­ity is, it’s very sim­i­lar, al­most iden­ti­cal, to a pri­vate treaty. The only dif­fer­ence is you’re mak­ing a de­ci­sion to ne­go­ti­ate on a set date. It’s still a ne­go­ti­a­tion, as you do with pri­vate treaty, but there’s a lot more speed, it’s more dy­namic, and a lot of peo­ple pre­fer to ne­go­ti­ate that way.” GAVIN CROFT

“Com­mu­ni­ca­tion is the key; you’ve got to com­mu­ni­cate with your ven­dor at all times. Work hard with your buy­ers, but your ven­dor is the most im­por­tant per­son when deal­ing with an auc­tion.” PETER GOUR­DOUROS

“There is only one Satur­day at 10am and, be­lieve it or not, that’s not the only auc­tion time dur­ing the week. In fact, I’d ar­gue that some of our best are mid­week, are af­ter hours when there isn’t the dis­trac­tion of sport or the week­end isn’t get­ting in the way. Think Sun­day, think Fri­day night, think Thurs­day night. Re­ally try it and see the en­gage­ment from the neigh­bour­hood and your buy­ers.” ALEC BROWN

“The one thing I wish agents knew about this process is it’s a com­pletely dif­fer­ent skill set from be­ing a great list­ing agent to be­ing a great auc­tion­eer. On auc­tion day there’s so many hats you need to wear in or­der to make it a suc­cess­ful out­ing, so dis­sect the day, dis­sect each role and re­alise that you can’t be ev­ery­where at once.” ANDY REID

“My ad­vice is very much like the ad­vice we give to a prospec­tive ven­dor: not all agents are the same and not all auc­tion­eers are the same. Be wary of who’s rep­re­sent­ing you on auc­tion day, make sure you’ve got their best sup­port and they’ve got your best in­ten­tions in mind, and that the ob­jec­tive on the day is to make your brand look great as well as sell­ing the prop­erty.” STU BEN­SON

“The age-old say­ing ‘Struc­ture sets you free’ is per­fect for auc­tions, both from a ven­dor side but also an agent side. Re­gard­ing your cam­paigns, you want to have method and struc­ture, and auc­tions are able to put that into your whole day and... work­ing week.” JOSH HART

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