#metroauctiontip Number 6: Implement An Auction Calendar

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One of the fundamental elements that makes an auction successful is time! You are setting a time limit on reaching a result for your sellers, so it is imperative that you manage the campaign and your time within the campaign with the utmost of precision. One of the best ways to do this is to implement an auction calendar.

The beauty of an auction calendar is that it’s multi-faceted. It is a great tool within your listing presentation, it provides your sellers with a clear and tangible promise of what you are going to do throughout the campaign and when you will do it.

Think of the auction calendar as an ‘accountability partnership tool’ that you can utilise to demonstrate your performance and keep your sellers informed. Also a great communication tool, you can simply report back to your sellers based on the milestones within the calendar, making the entire process more transparent, gaining your sellers trust and building their confidence. The auction calendar also adds to your value proposition, within the listing presentation you can itemise the tasks you will complete and their objectives, show your sellers the workload involved with an auction and essentially justifying your commission through demonstrating value. Finally, an auction calendar will keep you accountable to yourself; it will boost your prospecting plan by giving you nowhere to hide and ensuring that you don’t just go through the motions.

There are so many positive benefits associated with the auction calendar and its implementation that you simply shouldn’t run another auction campaign without it! If you need training or guidance regarding the auction process, or how best to strategically handle the setting of the reserve price, then contact Metro Auctions today!

DAVID HOLMES — INDEPENDENT REAL ESTATE AUCTIONEER