If you are a top luxury real estate agent, you should be familiar with auctions as an added method to sell high-end homes. Wealthy sellers of premier properties are increasingly turning to auction as a way to activate buyers and produce the highest price within their timeframe. They have valuable time and may be frustrated… likely even more than you think. They use auctions to buy and sell other fine assets. Why not their homes? They expect you to know their options when it comes to real estate.
In a luxury property auction, the seller’s agent is crucial to the process. As the listing broker, you are the market expert, so the real estate auction company should appreciate your guidance and advice.
Luxury real estate agents working with an auction company should give input as to the marketing plan, and the auction firm should be open to your expertise. What works in your market? Is it an exclusive community where direct mail to local homeowners would help spread the word of a unique auction opportunity? Or is it a one-of-a-kind ranch in which online outreach may be the best opportunity to identify a buyer?
Once the plan is in action, it is time to sell the property. And you as the seller’s agent will be one of the main points of contact for possible buyers. Know the talking points. Every auction is unique, so make sure you are able to describe the general questions accurately if asked. However, always remember that you are the expert on the property and the local market, while the auction team members are experts on all things auction. Defer to each other when prospective buyers need more detailed answers.
In addition to evangelizing the auction opportunity to anyone interested, you should know your role in regards to following up with buyers. While you are certainly the first point of contact in face-to-face leads or direct phone calls that come to you, discuss who is in charge of online leads or leads coming from advertisements with the real estate auction company. Also, team with the sales manager from the auction company and decide who will be in charge of property tours and open houses.
The best luxury real estate auction companies know how to utilize your expertise as a top local agent and understand you are a true asset to the auction process. A top luxury real estate agent and a top auction firm is a match made in heaven and sure to bring the best price for a high-end property on auction day!
Have a luxury property that could be right for auction? Request a complimentary property evaluation. Or click below for more on the auction process for luxury real estate agents and brokers.
Laura BradyAs the President of Concierge Auctions, Laura oversees the firm’s strategic brand direction and image, including marketing, public relations and events.mailto:laura.brady@conciergeauctions.com" target="">laura.brady@conciergeauctions.com888.966.4759 X 701FacebookGoogle+TwitterInstagram