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The world of real estate auctions is a dynamic and fast-paced environment, requiring skilled professionals who can navigate the intricacies of this increasingly popular selling method.
During my 15 years as an auctioneer, I have had the privilege of working with some of the best auction agents in the country. As a result, I have been able to identify what I think are the five key attributes that consistently define the success of these high performing agents. In this article, we will delve into these attributes and explore how they contribute to the achievements of these exceptional individuals.
1. Belief in the process: Elite auction agents have an unwavering belief in the auction process. They understand that auctions offer a unique platform for achieving the best possible outcome for their clients. These agents embrace the transparency, competition, and urgency that auctions bring, and they convey this conviction to their owners. By instilling confidence in the process, they inspire trust and create a strong foundation for success.
2. Setting and sticking to a plan: Elite auction agents know the importance of meticulous planning. They develop a comprehensive strategy for each auction campaign, taking into account market conditions, property specifics, and vendor objectives. This plan encompasses target audience identification, tailoring a high-impact marketing campaign and implementing a clear timeline of activities. What sets these agents apart is their unwavering commitment to following the plan they have set. They understand that consistency and discipline are key to achieving optimal results.
3. Effective communication with owners: Communication is the lifeblood of any successful relationship, whether it be business or personal, and auction agents recognise this. They maintain open lines of communication with their owners throughout the entire campaign, providing regular updates, sharing insights, and addressing any concerns. By establishing this transparent and collaborative relationship, these agents build trust, reassure their clients, and ensure that everyone is on the same page.
4. Prompt action in times of need: Even the most carefully crafted plans can encounter unexpected hurdles. Successful auction agents are quick to identify any deviations from the intended course and take immediate action to rectify the situation. Whether it’s adjusting the marketing strategy, refining the auction approach, or re-evaluating the property’s price positioning, these agents remain agile and adaptable. Their proactive nature allows them to effectively navigate challenges and steer the campaign back on track, maximising the chances of a successful outcome.
5. Building trust and rapport with buyers: Beyond their relationship with their owners, elite auction agents understand the importance of fostering trust and rapport with potential buyers. They invest time and effort in understanding the needs and preferences of potential bidders, providing them with accurate and reliable information. By establishing a genuine connection, these agents create a sense of confidence in buyers, increasing their engagement and likelihood of participating in the auction. This approach ultimately generates more competitive bidding and drives up prices.
In conclusion, elite auction agents possess a unique combination of attributes that contribute to their ongoing success. Their belief in the process, dedication to planning, effective communication with owners, prompt action when needed, and investing in building trust with buyers set them apart from the rest. These agents not only deliver exceptional results for their clients but also elevate the auction experience, solidifying their reputation as top professionals in their marketplace.
Edward Riley, Edward Riley Auctions
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