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Agent training devoting ‘very little time’ to auctions

24 June 2015 Staff Reporter
Agent training devoting ‘very little time’ to auctions

Lack of education is holding some agents back from recommending auction campaigns, according to one auctioneer.

Auction Services WA director Ryan Thompson said auctions represent a minuscule share of property sales in Perth, partly due to lack of knowledge among agents.

“When you do your training to be a salesperson very little time is spent on auctions – and if agents don't fully understand the process and its benefits, how can they confidently explain it to their clients? As a result, private treaty becomes the default sales method,” Mr Thompson said.

“A lack of knowledge and confidence among buyers and sellers is also an issue, but this can be improved when more agents understand the auction process.”

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Mr Thompson and New Zealand auctioneer Phil McGoldrick plan to educate agents about the auction process at an Auction Services WA seminar on 19 August.

The seminar will show agents how to list an auction and conduct an auction campaign, while also teaching them about negotiation and having critical conversations with clients.

“Phil and I are passionate about auctions and we want to see more agents using them, both for their benefit and for their clients,” Mr Thompson said.

“Statistics show they sell properties in a shorter timeframe than private treaty, create multiple selling environments, give you the opportunity to get the best price the market will pay, offer buyers a fair and transparent environment in which to buy – and agents who offer auctions have an edge over agents who can only offer private treaty."

[Related: Investor lending crackdown fails to cool auction fever]

Agent training devoting ‘very little time’ to auctions
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