Fabian Sanelli
speaker
229 appearances
4 recordings
1 series
first heard Jul 2022
last heard Oct 2022
Fabian Sanelli’s voice in public audio — every appearance, attributed to the second.
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Appearances
And going back to that apartment result, of course, I mean, that wouldn't have happened in a private sale, clearly.
And that's a perfect example you've brought up.
I had a chat with a very good friend of mine last week who's an elite agent, and we were dissecting this exact topic.
Sellers, unfortunately, who hate auction, they've either had a bad experience at auction or measuring its success purely on a knockdown.
That's not auction success.
And some agents they may be speaking with, unfortunately, aren't selling the auction method correctly.
They're more concerned about losing the listing than trying to pitch something to the vendors that they aren't on board with.
Well, they need to explain to their vendors that the auction gives the seller three opportunities to sell before, at and after the auction.
A private sale, as you know, only gives you one chance.
Now, I know for a fact because I survey agents weekly, they fail to mention this exact point about the three versus one method of rule.
The process of the auction gets the best outcome, not necessarily the knockdown.
It can even force a buyer to make an auction-stopping offer prior.
Should it pass in, the highest bidder is already highly emotional and is prepared then and there to buy it.
Getting them up is easier than not.
And with post-auction negotiations, Craig, creating urgency that it goes back to the underbidders can start a silent bidding frenzy.
On top of this, agents aren't
showing their sellers the private sale versus auction clearance rate comparison.
This agent that I had lunch with specifically shows his sellers their office auction clearance rates versus private sale clearance rates within a timeframe of 30 days, and it was 85% versus 40% in favor of auction.
Now, which clearance rate spectrum do you want your home to be in, Mr. and Mrs. Seller?
And that's how he closes more auction business.
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