{"id":10869,"date":"2018-06-21T01:00:48","date_gmt":"2018-06-20T15:00:48","guid":{"rendered":"https:\/\/reuncut.com.au\/?p=10869"},"modified":"2018-06-21T01:00:48","modified_gmt":"2018-06-20T15:00:48","slug":"where-agents-fail-in-the-lead-up-to-auction-day","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtyuncut\/where-agents-fail-in-the-lead-up-to-auction-day\/","title":{"rendered":"Where agents fail in the lead up to auction day"},"content":{"rendered":"<p>Poor feedback and unrealistic expectations given to the owner based on feedback that has been designed to either back up the agents original appraisal to get the listing or a need to have the owners happy throughout the campaign.<\/p>\n<p><strong>Topic \u2013 Smarter Auctions<\/strong><\/p>\n<p><strong>Mentor \u2013 <a href=\"https:\/\/www.theauctiongroup.com.au\/\" target=\"_blank\" rel=\"noopener noreferrer\">James Bell<\/a><\/strong><\/p>\n<ul>\n<li>Lack of working with buyers and education<\/li>\n<li>Wrapping the sellers in cotton wool<\/li>\n<li>A lack of marketing or working their database<\/li>\n<\/ul>\n<p><strong>Transcript:<\/strong><\/p>\n<p><strong>Kevin: <\/strong>A failed auction. What causes it? How much responsibility do we take ourselves as listing agents if an auction doesn&#8217;t sell? Well, where has James Bell, who&#8217;s my guest this week, seen agents fail in their lead-up to auction day?<\/p>\n<p><strong>Kevin: <\/strong>James, welcome to the show again. Thank you for your time.<\/p>\n<p><strong>James Bell: <\/strong>Thanks, Kevin.<\/p>\n<p><strong>Kevin: <\/strong>I gave you this in advance, I gave you all the topics in advance, &#8217;cause I really wanted you to think about this one. What have you found? Where do agents go wrong?<\/p>\n<p><strong>James Bell: <\/strong>Kevin, I think, linking back to a few comments over the previous three days, is really core feedback. And what that does it provides unrealistic expectations given to the owner, which what I found has just been based or has been designed to, one, either back up their original appraisal on the property, unfortunately-<\/p>\n<p><strong>Kevin: <\/strong>Yeah, which is a problem.<\/p>\n<p><strong>James Bell: <\/strong>&#8230; or really have a need to keep owners happy throughout the campaign. I think, coinciding with that, is a lack of working with buyers and their education, and I think sometimes agents are a bit scared of really pushing the buyer a little bit deeper than what they might be used to.<\/p>\n<p><strong>Kevin: <\/strong>What, for fear of losing them?<\/p>\n<p><strong>James Bell: <\/strong>Well yeah, fear of losing them, but I think one thing I&#8217;ve always experienced, if there&#8217;s a serious buyer out there, and you can build some form of trust with them, they&#8217;re always very happy to talk to you. I think the days of what I would call a service agent where you&#8217;d get a phone call into the office: &#8220;Oh, what are you looking for? Three bedrooms. Okay. What suburbs? What&#8217;s your price limit? Okay. I&#8217;ll add you to the database.&#8221; Whereas I&#8217;ve always tried to teach that, you know, &#8220;What areas&#8217; you looking for?&#8221; all that sort of stuff. &#8220;But have you bid at an auction before? Yes or no? Okay. What offers have you put in on other properties? Have you been to a bank? Have you got finance approval? Do you know if that finance approval allows you to purchase at auction?&#8221;<\/p>\n<p><strong>James Bell: <\/strong>So all I&#8217;m trying to do in that scenario is just understand who my buyer is. If they&#8217;ve bid at another property before, that obviously makes the education process a lot easier, but I think what I find is a lot of agents go into these auctions not actually knowing about their buyers, what&#8217;s their real reason for purchasing, what offers they&#8217;ve made on other properties, because all that sort of information does leave clues.<\/p>\n<p><strong>Kevin: <\/strong>It does. I want to go back to what you said right at the very start, because I think this is a key thing here. It&#8217;s one thing to work with the buyers, and you can get your buyers and get a good understanding about them, but unless you&#8217;ve got your sellers ready to sell, really ready to sell, and ready to meet the market, then it&#8217;s not going to come together for you.<\/p>\n<p><strong>Kevin: <\/strong>You talk there, right at the start, about not wanting to have that hard conversation, I think. But I call it &#8220;wrapping them in cotton wool&#8221;, that fear of upsetting them. That&#8217;s a real bridge for a lot of people.<\/p>\n<p><strong>James Bell: <\/strong>Oh, of course it is, Kevin, because at the end of the day, I think the general feeling that we have as human beings is we want to keep people happy. But, as I remind and have reminded a lot of my team over the years, that we are actually a professional service, and we have to give professional advice. And I think, rightly or wrongly, there&#8217;s some things that happen in our industry whereby yes, we sometimes do get listings when price has been the determining factor in what we&#8217;ve told them, and when the feedback isn&#8217;t coming in at that level, there&#8217;s reluctance to let them know.<\/p>\n<p><strong>James Bell: <\/strong>As you say, there&#8217;s that reluctance to have that conversation, and keep these owners in cotton wool, which serves no one the right purpose, let alone your owner who you&#8217;re meant to be acting for. It serves them no benefit whatsoever.<\/p>\n<p><strong>Kevin: <\/strong>Yeah, none at all.<\/p>\n<p><strong>Kevin: <\/strong>James, thank you so much for your time again today. We&#8217;ll come back tomorrow. I want to find out from you what you found outstanding agents do that other agents don&#8217;t, which is a bit of a continuation from today.<\/p>\n<p><strong>Kevin: <\/strong>Thanks for your time, James. Talk to you in the morning.<\/p>\n<p><strong>James Bell: <\/strong>Pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poor feedback and unrealistic expectations given to the owner based on feedback that has been designed to either back up the agents original appraisal to get the listing or a need to have the owners happy throughout the campaign. Topic \u2013 Smarter Auctions Mentor \u2013&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":10864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[167,170,147,171,174,152,153,154,158,161],"tags":[193],"class_list":["post-10869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-getting-more-listings","category-negotiation-skills","category-one-on-ones-and-kpis","category-personal-and-business-development","category-real-estate-marketing","category-staff-development-and-recruiting","category-staff-recruiting","category-staff-training-and-motivation","category-time-management","category-working-with-real-estate-buyers","tag-podcasts-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Where agents fail in the lead up to auction day - Realty UNCUT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtyuncut\/where-agents-fail-in-the-lead-up-to-auction-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where agents fail in the lead up to auction day - Realty UNCUT\" \/>\n<meta property=\"og:description\" content=\"Poor feedback and unrealistic expectations given to the owner based on feedback that has been designed to either back up the agents original appraisal to get the listing or a need to have the owners happy throughout the campaign. 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