Agents who embrace auctions get better results: Cooley

Agents who embrace auctions get better results: Cooley

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Australia’s top auctioneer is investing in education as part of his plan to raise the popularity and effectiveness of the auction process.

Cooley Auctions director Damien Cooley, who was named Auctioneer of the Year at the Real Estate Business Awards, said the reason some agents can’t convince clients to use auctions is because they don’t sincerely believe they’re the best way to sell real estate.

“Running a successful auction is about the belief that auction is the best way to sell real estate,” Mr Cooley told REB.

“Ultimately, an auction campaign creates urgency around the sale, it reduces days on market, gives a seller an opportunity to sell for a premium, removes price as a barrier for buyers and gives all parties involved a structured selling plan.”

Mr Cooley said education is the only way to convert more agents to the benefits of using auctions, which is why the Sydney business has free training programs for agents as well as clients.

“Auctioneers educating the public on auctions is difficult and expensive, but we do make an effort to be active in this space,” he said. “You will be seeing more of this from Cooley Auctions.

“We feel the agents are in prime position to best educate sellers on auctions, as they are the ones who are in the living rooms of mums and dads every day.

“We understand our role to better educate agents so they can pass on their knowledge to the seller.”

Mr Cooley said the best auction agents pay close attention to price, presentation and marketing.

“Recent comparable sales are the catalyst for pricing. Professional property styling attracts buyers and vendor-paid advertising gives the property a broader reach in the market.”

[Related: Top auctioneer sells his own home under the hammer]

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