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Big opportunities missed at auctions

Big opportunities missed at auctions

by Steven Cross 2 comments

Property managers and sales agents are missing opportunities to source new clients and business from auctions.

Independent auctioneer at Parkers Auctions Robert Parker told Residential Property Manager that including a member of the property management department at auctions would not only help the sales agent's credibility, but can also be a source of new business.

“A sales agent should not advertise a property as an investment property, unless they can talk investment. Having an expert at auction creates an added avenue for both sales and property management to create new customers,” he said.

As a 30-year veteran of the industry, Mr Parker spent a number of years teaming up with ex-BDM and current coach Deniz Yusuf, which he claimed yielded him some of the best results of his career.

“When I had a person there who represented the property management department, it gave me some credibility as far as rental information is concerned, but it also helped him get managements," he said.

“I could tell them who I suspected was buying to invest, and they would be able to talk to them and encourage them to buy it by telling them what sort of quality of returns they could expect.”

While introducing this may yield a new source of leads for the rental department, Mr Parker admits it may be hard to sway the sales side.

“Agents can be very negative to it, but what I say is that every service you can offer is a string to your bow," he said.

“If you’ve got a crowd there, the worst thing you can do is give information that you’re not sure of. You will always be asked in an auction room ‘What rent can I get?’ and a sales agent cannot satisfactorily answer that question.

“But if someone from the rental department was there, then I can direct all those questions to them. Sales agents get to the stage where they realise you’re not pinching their business, you’re actually giving them more qualified buyers.”

Big opportunities missed at auctions
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