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For the vendor, the sale of their home is the next big step in their lives. For the buyer, the first page of a new chapter in life. For the agent, well, it’s a magic mirror into their success, both immediately via the direct success of the call but also in the medium term, depending on how they leverage the platform they’ve granted for themselves to broadcast to the masses publicly.
But what about the rest of the attendees? The unsuccessful buyers, the neighbours, the stickybeaks, and the passive viewers — what is in an auction for them?
The reality is that, for these auxiliary purveyors of your handy work, an auction changes in significance to them depending on how we can share the story of the sale as it happens and take them on the journey with us.
So how can we do that to a greater extent, without taking our eyes off the priority, which is clearly the auction you’re working on at the time? This is where a little bit of effort can go a long way, because the potential benefits of making improvements here could have your auctions improve drastically in value to the business and the agent.
- The matchday program
Why do you think they distribute program at events? The program for any type of event is made available in order to set the scene for what’s about to happen. Whether it’s a rock concert, West End show, or footy game, the premise is to give the viewer greater context around whatever’s about to unfold in front of them.
What do you currently give passive viewers — a brochure? If they’re lucky, they’ll get one of those, but even if they did, how is it going to provide any context beyond the house specifications?
Having an “Auction Day Program” might sound like a lot of effort, but it’s very easy once you set up the initial formatting, which will allow you to swap in and out the relevant information for each property.
Information that you could include:
- Welcome note from the director
- Features of the property — take the extended ad from online and add the campaign stats
- Listing Agent Feature — literally one paragraph, which the agent could even do a voice to text for. Or just a profile! (Hint — a personalised unlisted YouTube clip saying “Welcome to the auction of 123 Smith St, thanks for joining us!” attached to a QR is a nice touch too.)
- Auction Day Team sheet identifying the crew members, making it easier for viewers to see who to keep an eye on
- General Information — Rules of the auction, tips for bidders, market stats, recent results etc.
- FAQs — What happens if it sells, if it passes in, the processes involved etc.
Put this together either as a mini booklet or even a two-sided A4, or better still, offer a QR to a PDF, and hand them out to the auction attendees, which is more likely to result in them moving from passive to half-interested!
- Appoint a ‘spectator liaison officer’
This can be a great role for an assistant or a team member that hasn’t got a hand in the deal.
Their responsibility is to effectively “host” the crowd by working the area, engaging with spectators and providing commentary as the action unfolds. This person needs to understand that the first impression that they give could be the only impression that potential vendors in the crowd take in, so it needs to be warm, friendly and purposeful!
They need to be armed with “matchday program” and an intention of being the ones that can explain the situation as it unfolds in a manner that leaves the crowd engrossed in the action. It isn’t a play to take business away from the listing agent, more so an extension of the agent so that the brand impression is powerful irrespective of the outcome.
- Have a team ‘pass-in’ strategy
THIS IS VITAL, not just for an inclement market but also for any market!
The way that your team carries itself on a passed-in auction will have such a resounding impact on the taste it leaves in the mouths of the crowd, so there needs to be greater purpose around the commentary and the actions from the listing agent, the crew, and the auctioneer. Tips for this include:
- Talk about “setting the bar for future offers”, not just “passing in”
- Show excitement that the next stage is an opportunity, not a burden!
- Have a clear, practised dialogue within the team regarding the next steps for the property if it doesn’t work out on the day
There are more, but if you can nail just these three alone, then the outcome will be rather irrelevant for the onlookers who didn’t realise that they’re about to pick their next agent! And with the increased stress on the market, you’re going to want to be the one who creates an educational story that sets you apart as the authority in a market.
Andy Reid is an auctioneer and the director of Apollo Auctions Victoria.
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