It’s not only the auctioneer’s skill in calling the action on the day that makes them a valuable ally for agents, but also their detailed knowledge of the local market, the chief auctioneer of a prominent network has said.
Chief auctioneer for Belle Property and head of Belle Property Advisory Andrew Robinson said that this is even more so the case today than it was 12 months ago.
“As market conditions begin to adjust, the role of the auctioneer has become more pronounced,” he told REB.
“But it’s the sales agents who have a strong working relationship with a skilled auctioneer that are best positioned to succeed. Properties that are marketed and priced well are getting buyers at the auction, but we do not see the frenzy we had recently.
“This is where the skill of the auctioneer comes into play. Auctioneers used to be able to get away with just having to count up in increments. Now they need to know how to read a room, what increments to use and when, when to push a buyer and when not to — it’s now more crucial than ever to the success of an auction.”
Mr Robinson said that auctioneers get a unique perspective of the market.
“With auctioneers calling up to 12 auctions on a Saturday, they’re exposed to the market in a way sales agent aren’t.
“They see who the buyers are and their behaviours, making them a valuable resource to sales agents and their vendors.”
He added that for this advantage to be effectively converted, auctioneers should work in a defined area and with select agents.
“This becomes a big point of difference because you get to know the agents you’re working with, the local area and what the expected price of any property should be.
“With fewer buyers around, I tend to see the same buyers at the different auctions. I make a point of treating them well and with respect because if they miss out on one property, I know that I will be able to work with that buyer to commit to buying another property.”
Although clearance rates are not as high as they were a year ago, Mr Robinson said that auctions as a selling method are still as relevant because they create urgency.
“Sales agents have to work harder from day one, they need a strong marketing campaign and they need to use the auction process to their advantage.
“In my area, we still see auctions across all price points, with people seeing the current market as a great opportunity to upsize.”
Mr Robinson calls over 350 auctions a year on Sydney’s Lower North Shore.