You know what they say, ‘a prepared vendor is a happy vendor’. Ok, so that is not an actual saying but it should be. Throughout the auction campaign it is quite common for an agent to get overwhelmed with a higher than normal workload, inevitably letting vendor communications fall by the wayside. It is important however to keep in mind that your vendor ultimately decides if the property will sell come auction day and that there is no better way to secure a result on auction day than effectively preparing your sellers.
Regular vendor meetings and reports are absolutely essential to equip your sellers with key information such as buyer comments and concerns, price feedback and the possible outcomes to be expected on auction day. Your sellers should be educated well enough about the activity throughout the campaign that they feel comfortable and confident with the process and potential results.
Keeping your sellers informed won’t eliminate the stress and the nerves associated with auction for either yourself or your sellers, however it will give them more understanding and realistic expectations relating to the auction outcome. If you need training or guidance on the appropriate dialogue to use regarding price during your auction campaign, then contact Metro Auctions today!