Other videos in this series

Would a salaried agent give a more honest appraisal?

Commission is the structure that shapes almost everything about how real estate operates in Australia – who enters, who survives, who earns, and how customers are served. But what if it’s not the only option? In this three-part series, Elite Agent Managing Editor Samantha McLean draws on her own career in salaried tech sales, plus academic research and industry data to ask the question the industry hasn’t properly explored: what would actually change if agents were paid differently?

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TRANSCRIPT

The one thing for me that I wish agents knew about auctions was how much influence they actually have over buyer behaviour. We find that a lot of focus gets put into informing the seller and working with that seller throughout a campaign. We really feel that the agents have a lot of influence over the buyer behaviour, particularly in the last 72 hours leading up to the auction.
 
So, making sure that they follow-up with the buyers and they stay on top of the buyers all the way throughout that last crucial three-day period.
 
What we tend to find is the buyers drop away. The conversations they have with other people, telling them not to bid. A lot of cases, it’s actually the agent’s role to be the antithesis to that and make sure that they’re there on the day, turning up, ready to put their paddle in the air.
 
We really see the good agents who do their jobs to the nth degree are very, very good at making sure people turn up, and also having a preordained bidding strategy, so they’re successful on the day.