Top Tips for Agents to Promote the Auction Method of Sale to Sellers

Wishing our partner agents a very happy and prosperous new year! As we reflect on what an amazing year 2024 was for our expanding partner agent network, we can only look forward to this year with continued optimism and confidence.

You asked, and we listened!

Below we have outlined the top tips and insights for you to promote auction to your customers/clients as one of the best, if not the best, method sale.

Successfully promoting auctions to sellers requires a clear understanding of the process, confidence in addressing concerns, and the ability to highlight the unique benefits. Here, we share practical tips to help estate agents pitch the auction process effectively, ensuring sellers feel confident and informed.

1/ Focus on the Seller’s Goals and Individual Circumstances

Every seller’s situation is unique, so it’s essential to tailor your pitch to their needs, irrespective of the property type. For sellers looking for a fast and secure sale, emphasise how the secure sale auction method offers a defined timeline and reduces the risk of fall-throughs. For those seeking the best price, agents could explain how competitive bidding often drives up offers, sometimes exceeding market expectations.

By aligning the auction process with the seller’s goals, you can demonstrate how it’s an ideal solution tailored to their circumstances, as opposed to the property value or type.

2/ Myth Busting! Address Common Concerns with Confidence

Concern: “Won’t I get less for my property at auction?”
Response: Auctions often result in competitive bidding, driving up the final price. Setting a realistic reserve ensures the property won’t sell for less than your agreed minimum.
Concern: “Isn’t auctioning my property risky?”
Response: No. The auction process is transparent and secure, with buyers committed to completing the sale once their bid is accepted. This reduces the risk of fall-throughs.
Concern: “Will an auction limit the number of buyers?”
Response: Not at all. Online Auctions attract a diverse pool of buyers, including investors, cash buyers, and motivated purchasers looking for a straightforward and transparent transaction.

3/ Educate Sellers on the Auction Process

Initial Valuation: Pattinson Auction’s team collaborates with your estate agency to provide an accurate market valuation.
Marketing: Comprehensive property marketing ensures maximum exposure to potential buyers.
Online Auction: Buyers compete in a transparent bidding environment online which often leads to better-than-expected results.
Completion: Once the hammer falls (so to speak) the sale is legally binding, ensuring a smooth and swift completion.

4/ Demonstrate the Benefits of the Auction Process and Refer to it as the Secure Method of Sale

Speed: The auction process often leads to quicker sales compared to traditional methods of sale.
Security: Once the auction cycle ends, the sale is legally binding, providing certainty for sellers.
Transparency: The open bidding process ensures fair competition and visible demand for the property.
Highlight these benefits alongside examples of successful auction sales to reinforce your points.

5/ Leverage Pattinson Auction’s Support

At Pattinson Auction, we provide our partner agents with comprehensive support, including:

Training: Equip your team with the knowledge and confidence to discuss the auction process with sellers effectively.
Marketing Materials: Access professional brochures, digital content, and property listings to promote auction services.
Dedicated Support Team: Receive expert guidance and in-person assistance throughout the auction process, from our dedicated BDMs located all over the UK.
By emphasising this partnership, you can assure sellers that they are in capable hands.

6/ Use Success Stories and Testimonials

Real-life examples of successful auction sales can be a powerful tool in promoting auctions.

7/ Position Auctions as a Modern Sales Solution

Property auction is no longer seen as a last resort but rather as a proactive and innovative sales method. Be sure to present auction as a modern solution for today’s fast-paced property market, appealing to both sellers and buyers seeking transparency and efficiency.

This Partner Agent portal is full of features to help you refer properties.