Cost: Member: FREE
Date and time: 13 April 2018 2pm-3pm
This is a must for auctioneers, sales agents and buyers’ agents.
In this free member webinar, you will hear from experienced auctioneers Jesse Davidson and Clarence White on the importance of conversations with buyers, vendors and agents before and during the auction. In particular the team will cover:
1. Auction floor negotiations
- When the bidding is flowing, let it flow – don’t consult
- When it stops talk to the buyer first, and then the vendor
2. Framing the situation for the bidders and crowd
- What is the incentive to bid? The highest bidder either buys or gains the exclusive opportunity to negotiate
- Identify there is a gap between the seller and the buyers - the crowd gets it
- Commentate on the back and forth
- Announce increased bids and reinforce the benefit, congratulate the bidder ‘Smart strategy” etc
3. Buyer conversations on the floor
- Ask for more than you want
- Use softer phrases like “the owner is hoping for a little more”
- Counter offers - moving on price - move small first - only move when the buyer moves
- Always take an increase as a “bid on the floor” before you go and consult the vendor about it
- Fear of missing out
- What happens if we advertise it at this price?
- Only disclose reserve as last resort and only when there is a significant gap
- Walk away conversations - be aware of the buyer’s pride
4. Vendor conversations
- Pre-framing vendor expectations before auction
- Bidding stops - no movement required - ask for more from buyer
- Encourage without pressure - Framing the situation for the vendor and empowering them to make a smart decision
- “Crunch” conversations
- Adjusting the reserve - only once a price is agreed
Meet the presenters
Jesse Davidson is the owner of auctionWORKS. He completed his Bachelor Degree in Business in 2009 and then accepted a position with auctionWORKS. Jesse entered the REINSW 2010 Novice Auctioneering Championships and won! Since then he has also been won the REINSW Awards for Excellence in Auctioneering for 2015. He was appointed as the Chair of the REINSW Auctioneers Chapter Committee for 2015 – 2017.
Clarence White began his auctioneering career with McGrath Estate Agents and spent four years there before joining the team at BresicWhitney in 2017. In 2014 he won the REINSW Awards for Excellence in Auctioneering and was a finalist at the Australasian Auctioneering Championships. In 2015 he was again a finalist in the REINSW Awards for Excellence in Auctioneering.