The following article provides five easy tips that can improve your approach and your under the hammer success rates.
1. Communicate clearly, concisely and accurately.
It is vital within the auction process to facilitate clear, concise and accurate communication. Quality communication essentially begins with the pitch to the vendor in regards to why they should auction their home, continuing through to organising photography, preparing your copywriting through to liaising with prospective purchasers, to interacting with your auctioneer – make every interaction count!
2. Don’t take the easy way out with vendor paid advertising.
It is no secret that property advertising works. The larger the targeted audience you reach, the more likely you are to find the buyer or buyers that are willing to compete for the property. This is an ideal scenario for an auction and a critical aspect in driving the price upward and achieving the best result, so be sure to pitch the best strategy every time – you have to ask the question!
3. Be the expert.
We have all experienced a sales person that when asked a question stares blankly at you, or refers to the product brochure for the answer. What is your reaction when this happens? They instantly lose credibility. In this modern day, where information is literally at our fingertips via the internet and research is much faster and easier than ever before our expectations are also higher than ever before. Buyers and sellers alike expect the sales person to be a product expert, so do your homework!
4. Treat an Open Home like show time.
Open homes are not only an opportunity for interested buyers to view the property but they are also a chance for prospective sellers to interview their potential agent. You never know who is walking through the front door at your open home, so all visitors should be treated as if they are your next client, it is show time!
5. Tell the neighbourhood.
For every auction campaign the neighbourhood should be notified throughout the campaign. The minute you list the property for auction they should know. Whether you make phone calls, doorknock or letter box drop the area, you need to communicate the auction prior to the campaign launch. Throughout the campaign, the neighbours should be invited to the open homes or wine and cheese nights. Neglecting to invite the neighbours can mean you not only miss out on prospective buyers but also prospective sellers and that will hit you in the hip pocket!
By following these tips you will achieved the following;
- Confidently sold the auction process to your vendors
- Implemented the best marketing strategy to drive the highest volume of enquiry
- Gathered local information to essentially make you the expert within the area
- Impressed the sellers, buyers and all other visitors at your open homes
- Interacted with the local neighbours and created a current database of prospective sellers
- Successfully sold the property under the hammer or negotiated a great price post auction
All of which will lead to increased business for you in the future. Congratulations.